Vietnam stock market hits a one-month high

By Hung Le   July 4, 2019 | 02:31 am PT
Vietnam stock market hits a one-month high
The market recorded 372 gainers against 237 losers. Photo by Shutterstock/Pavel Ignatov.
Vietnam’s benchmark VN-Index closed at 973.04 points, the highest since May 23, with growth seen in most large-cap and banking stocks.

By the end of Thursday’s afternoon session, the VN-Index, which represents roughly 90 percent market capitalization of all listed companies in Vietnam, was up 12.65 points or 1.32 percent.

Liquidity on the Ho Chi Minh Stock Exchange (HoSE) reached VND4.4 trillion ($189 million), higher than most trading sessions in the last two weeks.

The market recorded 372 gainers against 237 losers. In particular, the basket of the highest market cap stocks, the VN30-Index, saw a 1.17 percent increase this session, with most stocks gaining and just two in the red.

The VCB stock of Vietcombank, Vietnam’s third biggest lender by assets, recorded the most impressive growth across the market this session with a rise of 4.2 percent, up VND2,900 ($12 cents) to VND72,500 ($3.11).

It was followed by VHM of Vinhomes, Vingroup’s real estate arm and second highest market cap stock on the HoSE, which went up 3.7 percent. Other major gainers were TCB shares of Techcombank, Vietnams biggest private bank in assets, up 2.9 percent; and DHG shares of pharma giant HauGiang Pharmaceutical JSC, up 2.3 percent.

Positive sentiment among buyers, along with the upcoming semi-annual business results, will help the market return to a positive trading trend, analysts say.

At the end of the session, the HNX-Index for stocks on the Hanoi Stock Exchange increased by 0.64 percent to 104.34 points, and the Upcom-Index for Vietnam’s unlisted public companies exchange rose by 0.53 percent to 55.58 points.

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