VN-Index edges up in quiet session

By Hung Le   June 18, 2020 | 07:06 pm GMT+7
VN-Index edges up in quiet session
An investor looks at stock prices on a laptop at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.

The VN-Index rose 0.1 percent to 855.27 points Thursday, with liquidity falling to levels when the Covid-19 pandemic was raging in Vietnam.

The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, saw 186 stocks gain and 176 lose.

Total trading volume fell to yet another low this month at VND4.27 trillion ($184.17 million), just slightly above daily trading averages between February and April, when the Covid-19 pandemic scared investors off the stock market.

The slowdown in cash flow followed some of the most lively weeks of trading this year at the HoSE, when liquidity hovered around VND6-7 trillion ($257-300 million) a session and the VN-Index going on a recovery streak from 760 points to as high as 900 last week.

The VN30-Index for the stock market’s 30 largest caps added 0.08 percent, with 11 stocks gaining and 13 losing.

HPG of leading steelmaker Hoa Phat Group, NVL of real estate developer Novaland and PLX of state-owned petroleum distributor Petrolimex were the leading gainers at 2.1 percent each.

They were followed by VJC of budget carrier Vietjet Air, up 1.1 percent, VCB of state-owned banking giant Vietcombank, up 1 percent, and REE of appliances maker Refrigerated Electrical Engineering, up 0.8 percent.

VHM of real estate developer Vinhomes and BID of state-owned lender BIDV, two of the VN30’s ten biggest caps, rose 0.7 percent and 0.5 percent respectively.

In the opposite direction, ROS of real estate developer FLC Faros topped losses with 2.2 percent, something the ticker regularly does as the smallest cap on the VN30.

Four private banks were in the red this session, with STB of Sacombank falling 1.7 percent, HDB of HDBank, 1.1 percent, TCB of Techcombank, 0.5 percent, and VPB of VPBank, 0.2 percent.

Other losing stocks this session included POW of electricity generator PetroVietnam Power, down 1.4 percent, VIC of private conglomerate Vingroup, down 1.1 percent, GAS of energy giant PetroVietnam Gas, down 1 percent, and MSN of food conglomerate Masan Group, down 0.9 percent.

The remaining tickers fell less than 0.5 percent each.

Meanwhile, the HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.47 percent, and the UPCoM-Index for stocks on the Unlisted Public Companies Market shed 0.2 percent.

Foreign investors turned net sellers to the tune of VND15 billion ($646,950) on all three bourses, with buying pressure mostly on VIC of Vingroup and MSN of Masan Group.

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