Blue chips push VN-Index to 0.8-pct gaining session

By Hung Le January 21, 2020 | 03:00 am PT

The VN30 for the stock market's 30 biggest cap stocks gains 1.02 percent on January 21, 2019. Photo by Shutterstock/Pavel Ignatov.

The benchmark VN-index rose 7.74 points, or 0.79 percent, to 986.37 points Tuesday, with most blue chips closing in the green.

199 stocks gained while 117 stocks lost on the Ho Chi Minh Stock Exchange (HoSE), on which the benchmark VN-Index is based.

Order-matched transactions rose to VND2.6 trillion ($112.27 million) from VND2.1 trillion ($90.68 million) last session, a busier trading day than most sessions so far in January.

The VN30-Index for Vietnam’s 30 biggest market caps gained even further with a 1.02 percent increase. 18 stocks rose and 6 stocks fell in this basket.

The five strongest gainers this session were mid-sized bank stocks led by VPB of VPBank, up 4.7 percent, followed by TCB of Techcombank, up 3 percent. HDB of HDBank and MBB of state-owned Military Bank both added 2.5 percent, while STB of Sacombank rose 1.9 percent.

In the group of Vietnam’s three biggest state-owned lenders by assets, BID of BIDV and VCB of Vietcombank added 1.3 percent and 0.8 percent respectively, while CTG of VietinBank remained at its opening price.

Among the trio of stocks related to Vingroup, Vietnam’s largest private conglomerate, VIC shares of parent corporation Vingroup and HoSE’s biggest market cap stock, stayed at their opening price.

VRE shares of Vincom Retail, Vingroup’s retail arm, and VHM of Vinhomes, the conglomerate’s real estate arm, added 1.9 percent and 1.7 percent respectively.

In the other direction, FPT of IT services giant FPT was the biggest losing stock, having fallen 3.3 percent. It was followed by EIB of private Eximbank, down 1.7 percent, and SAB of Vietnam’s biggest brewer Sabeco, down 1.3 percent.

Meanwhile, the HNX-Index for stocks on the Hanoi Stock Exchange, Vietnam’s second main bourse for small and midcap stocks, surged 1.39 percent, while the UPCoM-Index for unlisted public companies rose 0.89 percent.

Foreign investors were net buyers for the fourth consecutive session on all three bourses to the tune of VND55.34 billion ($2.39 million). Buying pressure was focused on HPG shares of leading steelmaker Hoa Phat Group, and E1VFVN30, an exchange-traded-fund that possesses stocks in all companies in the VN30 basket.