Blue chips nudge VN-Index up

By Hung Le   January 7, 2020 | 03:58 am PT
Blue chips nudge VN-Index up
The VN30 Index for Vietnam's biggest market cap companies sees 21 gainers on January 7, 2020. Photo by Shutterstock/Pavel Ignatov.
Most blue chips gained on Tuesday, helping raise VN-Index 3.09 points, or 0.32 percent, to 958.88 points.

Ho Chi Minh Stock Exchange (HoSE), on which VN-Index is based, saw a fairly balanced session with 169 stocks gaining and 161 losing.

Investors remained cautious with order-matched transactions at VND2 trillion ($86.31 million), one of the lowest liquidity sessions in the past month.

VN30-Index for Vietnam’s 30 biggest market caps rose 0.5 percent, with 21 tickers gaining and 9 losing. Seven stocks in this basket gained at least one percent.

ROS shares of real estate developer FLC Faros skyrocketed 6.7 percent, it’s ceiling price, ending a streak of seven straight sessions to become the biggest losing stock on the market.

It was followed by BID of BIDV, one of the three largest state-owned banks in Vietnam, which added two percent. CTG of VietinBank and VCB of Vietcombank, the other two, added 1.6 percent and 0.3 percent, respectively.

Other big gainers included VPB of private VPBank, up 2 percent, FPT of IT services giant FPT, up 1.9 percent, and PNJ of leading jewellery company Phu Nhuan Jewelry, up 1.3 percent.

Shares related to Vietnam’s biggest private conglomerate Vingroup all rose this session. VIC of Vingroup, the biggest market cap stock on HoSE, gained 0.2 percent, while VRE of retail arm Vincom Retail and VHM of real estate arm Vinhomes rose 0.9 and 0.5 percent respectively.

In the opposite direction, GMD of sea freight and port services firm Gemadept fell the hardest with 2.2 percent, followed by CTD of construction giant Coteccons, down 2.1 percent.

The only two bank stocks that lost this session were of mid-sized private lenders, HDB of HDBank, and EIB of Eximbank, which slipped 1.1 and 0.3 percent, respectively.

Meanwhile, HNX-Index for stocks on Hanoi Stock Exchange, Vietnam’s second main bourse for small and mid-cap stocks, rose 0.18 percent, while UPCoM-Index for unlisted public companies shed 0.25 percent.

After two net buying sessions, foreign investors net sold VND60 billion ($2.59 million) worth of shares on all three bourses this session, with selling power focused on HPG of Hoa Phat Group, and VCB of Vietcombank.

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