VN-Index continues moving sideways

By Dat Nguyen   September 24, 2021 | 02:55 am PT
VN-Index continues moving sideways
An investor points at stock prices on a screen at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam’s benchmark VN-Index dropped 0.12 percent to 1,351.17 points Friday, continuing its sideways movement as investors remain reluctant about new purchases.

The index struggled to break out of the 1,350-range and closed the day and the week nearly two and 1.5 points lower, respectively.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, plunged 21 percent to VND18.33 trillion ($806.55 million), lowest in the last six sessions.

The VN30 basket, comprising the 30 largest capped stocks, saw 13 tickers in the red.

MSN of conglomerate Masan Group fell 1.8 percent to its lowest level September 14. VRE of retail real estate arm Vincom Retail dropped 1.4 percent after two gaining sessions.

POW of electricity producer Petrovietnam Power Corporation fell 1.3 percent, and MWG of electronics retail chain Mobile World fell 1.1 percent.

Of the blue chip gainers, MBB of lender MB led with a 2.9 percent increase. It is now at its highest in five weeks.

BVH of insurance company Bao Viet Holdings went up 1.7 percent, and ACB of Asia Commercial Bank gained 1.3 percent.

Foreign investors snapped a streak of three consecutive net selling sessions with net purchases of VND157 billion. The purchases were focused on HPG of steelmaker Hoa Phat Group and MSN.

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