VN-Index edges up in third consecutive gaining session

By Hung Le   December 22, 2020 | 06:16 am PT
VN-Index edges up in third consecutive gaining session
An investor looks at stock prices on a smartphone at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
The VN-Index added 0.22 percent to 1,083 points Tuesday in a session where corrective pressure slowed the gaining momentum of the previous session.

The benchmark VN-Index had fluctuated in and out of the red for most of the trading day as a proportion of investors tried to cash in on gains from the day before, when the index surged 1.28 percent.

The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, was still predominantly green with 269 stocks gaining and 167 losing. Total trading volume remained on par with the previous session, at VND14.6 trillion ($633.76 million).

The VN30-Index this session rose 0.24 percent, with 14 stocks rising and 15 falling. The stocks in this basket accounted for less than 45 percent of total trading volume.

EIB of private lender Eximbank and ROS of construction firm FLC Faros hit their ceiling prices with gains of 6.8 percent each.

They were followed by SBT of agricultural exporter TTC-Sugar, up 3.4 percent, SSI of brokerage SSI Securities Corporation, 3.3 percent, MWG of electronics retailer Mobile World, 3.2 percent, and REE of appliances maker Refrigeration Electrical Engineering, also up 3.2 percent.

Stocks in real estate and construction performed mostly positively this session, with KDH of Khang Dien House rising 2.5 percent, TCH of Hoang Huy Group 1.3 percent, and NVL of Novaland with 0.6 percent. VHM of Vinhomes was the only one that fell, edging down 0.2 percent.

In the opposite direction, VJC of budget carrier Vietjet Air was the biggest loser with 1.7 percent, followed by PLX of gasoline distributor Petrolimex, 1.5 percent, and GAS of energy giant PetroVietnam Gas with 1.2 percent.

Most of the remaining losers were tickers in the banking sector, unlike the previous session where most of them gained.

Of Vietnam’s three largest state-owned lenders by assets, BID of BIDV, VCB of Vietcombank and CTG of VietinBank shed 1.3 percent, 1 percent and 0.1 percent respectively. MBB of mid-sized Military Bank was also down by 0.2 percent.

In the private banking sector, HDB of HDBank lost 1.4 percent, TCB of Techcombank fell 0.7 percent and VPB of VPBank kept its opening price. STB of Sacombank added 0.9 percent.

VIC of private conglomerate Vingroup, HoSE’s largest cap, was down 0.7 percent, and VRE of its retail arm Vincom Retail shed 0.3 percent.

The HNX-Index for the Hanoi Stock Exchange, home to mid- and small-caps, and the UPCoM-Index for the Unlisted Companies Market soared this session by 3.15 percent and 1.65 percent, respectively.

Foreign investors turned net sellers this session to the tune of nearly VND75 billion on all three bourses, with selling pressure mostly on stocks outside the VN30.


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