VN-Index ends three-session losing streak

By Hung Le   February 19, 2020 | 05:31 pm GMT+7
VN-Index ends three-session losing streak
An investor is seen behind a stock market screen at a securities company in Hanoi. Photo by Reuters/Kham.

VN-Index edged up 0.09 percent to 928.76 points Wednesday after three consecutive losing sessions.

Ho Chi Minh Stock Exchange (HoSE), Vietnam’s main bourse on which VN-Index is based, saw 202 stocks rise and 152 fall. Order matched transactions were VND2.5 trillion ($107.39 million), slightly below last month’s average of VND2.6 trillion ($111.68 million).

VN30-Index for the bourse’s 30 biggest market caps rose further with 0.25 percent, on which 16 gained and 11 lost.

ROS of real estate developer FLC Faros topped gains this session with a 6.9 percent rise, the highest it could go in a trading session. The blue chip is currently one of the most volatile on the VN30, either hitting its price floor or ceiling for most sessions in the past month.

It was followed by PNJ of Phu Nhuan Jewelry, up 2.2 percent, SBT of agricultural firm TTC Sugar, up 2.2 percent, and MWG of electronics retail giant Mobile World, 1.5 percent.

VIC of Vingroup, Vietnam’s biggest private conglomerate, also ended three straight losing sessions, having risen 0.5 percent.

In these three sessions, VIC lost between 1.8 percent and 3.2 percent, but before had been one of the most stable stocks on VN30, seldom gaining or losing over 0.3 percent per session in the past quarter.

Banking sector and oil and gas sector stocks saw split results this session. In the group of Vietnam’s three biggest state-owned lenders by assets, CTG of VietinBank and VCB of Vietcombank added 1.1 percent and 0.1 percent, respectively, while BID of BIDV shed 1.3 percent.

VPB of VPBank was the only stock of a private mid-sized lender to have gained this session, up 1.5 percent, while the rest fell. Major losing stocks included STB of Sacombank and EIB of Eximbank, which fell 1.3 percent and 0.6 percent.

POW of Vietnam’s second-biggest electricity generator PetroVietnam Power gained 1 percent, PLX of petroleum distributor Petrolimex added 0.2 percent, while GAS of energy firm PetroVietnam Gas dropped 0.8 percent.

The biggest losing stock this session was VRE of Vingroup’s retail arm Vincom Retail, down 1.3 percent.

Meanwhile, HNX-Index for stocks on Hanoi Stock Exchange, Vietnam’s second main bourse for small and midcap stocks, shed 0.7 percent, while UPCoM-Index for unlisted public companies added 0.27 percent.

Foreign investors were net sellers for the seventh consecutive session on all three bourses, with a net sell of VND220 billion ($9.45 million). Selling pressure was mostly focused on VIC of Vingroup and MSN of food conglomerate Masan Group (up 1.4 percent).

 
 
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