VN-Index ends fourth session in the green

The index fluctuated around 1,340 points throughout the day and closed with a 3-point gain to a new peak. This is its fourth consecutive session in the green.

Ho Chi Minh Stock Exchange (HoSE) once again showed signs of overload with investors having trouble placing orders and price boards showing delayed data. Many brokerages have advised investors to limit modifying or cancelling orders as this will cause system strain.

Trading value surged 20 percent to a new peak this year at VND26.14 trillion ($1.13 billion). The bourse saw 228 tickers gaining and 187 losing.

The VN30 basket, comprising the 30 largest capped stocks, saw 13 tickers in the green, led by SSI of leading brokerage SSI Securities Corporation with a 5.3 percent gain to a new peak.

It was followed by GAS of state-owned Petrovietnam Gas with a 4.4 percent gain to the highest since April 20. This was its fourth consecutive session ending in the green.

NVL of real estate developer Novaland Group rose 2.7 percent to a near two-week high.

VCB of state-owned lender Vietcombank was the top banking gainer this session with a 2.2 percent increase. It contributed most to the VN-Index gain with 2.3 points.

Trading volume of the ticker rose 179 percent from the average of the last 10 sessions, showing high demand.

Other gainers include MWG of electronics retail chain Mobile World and PDR of Phat Dat Real Estate Development, both up 1.7 percent.

On the losing side, HPG of steelmaker Hoa Phat Group led with a 2.7 percent drop, followed by VIC of biggest private conglomerate Vingroup, down 2.1 percent.

Foreign investors were net sellers for the third session in a row to the tune of VND1.2 trillion, with strongest pressure on HPG and VIC.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 1.12 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 0.59 percent.