Blue chips lead as VN-Index edges up

By Hung Le   February 27, 2020 | 06:19 am PT
Blue chips lead as VN-Index edges up
An investor looks at stock boards at a securities company in HCMC. Photo by VnExpress/Huu Khoa.
The VN-Index rose 0.28 percent to 898.44 points Thursday, with the stock markets biggest caps closing in green.

251 stocks rose and 104 fell on the Ho Chi Minh Stock Exchange (HoSE), Vietnam’s main bourse on which the VN-Index is based.

Order matched transactions was at around VND2.6 trillion ($111.87 million), the same level as the previous session, and equivalent to an average trading day on the stock market last month.

The VN30-Index for the bourse’s 30 biggest market caps added 0.79 percent, with 21 gaining and eight losing. Eight stocks gained more than 2 percent this session, two of them in the construction sector.

STB of private-midsized lender Sacombank led gains this session with 4 percent, followed by CTD of construction giant Coteccons, and ROS of real estate FLC Faros, which rose 3.8 percent and 3.7 percent respectively.

Next were SSI of securities firm Saigon Securities Inc, up 2.5 percent, VNM of dairy giant Vinamilk, 2.3 percent, and PLX of state-owned petroleum distributor Petrolimex, 2.2 percent.

All other stocks in the banking sector gained this session, save for VCB of state-owned lender Vietcombank, which shed 1.2 percent. The biggest gainers were all private bank tickers, including TCB of Techcombank, up 1.8 percent, and HDB of HDBank, up 1.1 percent.

In the opposite direction, SAB of Vietnam’s biggest brewer Sabeco topped losses with 2.1 percent, followed by VJC of budget carrier VietJet Air with 1.8 percent.

Two tickers related to state-owned oil and gas group PetroVietnam, GAS of energy giant PetroVietnam Gas, and POW of PetroVietnam Power, the country’s second biggest electricity generator, lost 1.1 percent and 1 percent respectively.

The two biggest market cap stocks on HoSE, VIC of of private conglomerate Vingroup, and VHM of its real estate subsidiary Vinhomes, edged down 0.3 percent and 0.1 percent respectively.

The HNX-Index for stocks on Hanoi Stock Exchange, Vietnam’s second main bourse for small and midcap stocks, surged 2.49 percent, and the UPCoM-Index for unlisted public companies shed 0.33 percent.

Foreign investors were net sellers again on all three bourses, with a net sell value of VND250 billion ($10.82 million). Selling pressure was mostly focused on MSN of food conglomerate Masan Group, which fell 0.1 percent, and SVC of Savico, a leading car dealer, which added 0.2 percent.

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