VN-Index closes in the green for eighth straight session

The index dipped to around 1,232 points at 10 a.m. but quickly recovered to the 1,240 range and ended with a 2-point increase. It has gained nearly 6.9 percent in the last eight sessions.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell 2 percent to VND16.5 trillion ($718 million). The bourse saw 267 tickers gain and 155 lose.

The VN30 basket, comprising the 30 largest capped stocks, saw 17 tickers in the green, led by POW of electricity distributor Petrovietnam Power Corporation with a 3.7 percent increase to a three-week high.

It was followed by BVH of insurance company Bao Viet Holdings, up 2.9 percent, and TPB of private TPBank, up 2.3 percent to a two-week high.

MSN of conglomerate Masan Group also hit a two-week high with a 2.1 percent increase, while TCH of real estate company Hoang Huy Investment Financial Services returned to this year’s peak with a 1.9 percent gain.

On the losing side, STB of Ho Chi Minh City-based lender Sacombank closed with a 2 percent drop after hitting this year’s peak Monday.

VNM of dairy giant Vinamilk fell 1.4 percent, its third straight session in the red. It has fallen 14 percent from this year’s peak on January 12.

Foreign investors were net sellers to the tune of VND60 billion, with the strongest pressure on CTG of state-owned lender VietinBank, VNM and GAS of state-owned Petrovietnam Gas.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.4 percent, while the UPCoM-Index for the Unlisted Public Companies Market fell 0.05 percent.