VN-Index breaks into 1,400 range

The index stayed in the green throughout the day and closed with a near 16-point gain, the highest of the past six sessions. It has ended in the green for three consecutive sessions.

The 1,400 range is the third major milestone of VN-Index this year, having surpassed the 1,200 and 1,300 levels in March and May respectively. The index has gained 27 percent in the past six months.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, surged 21 percent to VND23.19 trillion ($1 billion), the highest during the past six sessions. The bourse saw 228 tickers win and 157 lose.

VHM of real estate giant Vinhomes contributed most to VN-Index’s gain this session, pushing it up by 3 points.

The ticker closed with a 3 percent gain to a new peak, having risen 29 percent this year.

HPG of steelmaker Hoa Phat Group pushed the index up by 2 points with a 3.4 percent gain, bringing it to the highest since June 15.

TCB of largest private lender Techcombank contributed a 1.9-point increase to VN-Index with a 3.9 percent rise. It is now at its highest level since June 4.

Other strong blue-chip gainers include TPB of private TPBank, up 4.9 percent, BID of state-owned lender BIDV, up 3 percent and BVH of insurance company Bao Viet Holdings, up 2.9 percent.

However, five tickers bucked the trend, led by VIC of biggest private conglomerate Vingroup with a 0.7 percent drop, followed by VNM of dairy giant Vinamilk, down 0.6 percent.

Foreign investors ended four sessions of net buying with a net sale of VND217 billion, with strongest pressure on VPB of private lender VPBank and HPG.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 1.53 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 0.36 percent.