VN-Index gaining streak extends to sixth straight session

By Hung Le   April 20, 2020 | 02:11 am PT
VN-Index gaining streak extends to sixth straight 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 0.68 percent to 794.97 points Monday, with oil and gas sector stocks proving some of the best performers.

212 stocks gained and 154 lost on the Ho Chi Minh Stock Exchange (HoSE), Vietnam’s main bourse on which the VN-Index is based.

Total trading volume, which includes order-matched and put-through transactions, fell slightly over the previous session to VND5.19 trillion ($222.76 million) but was still at a high level compared to previous weeks.

The VN30-Index for HoSE’s 30 biggest caps edged up 0.18 percent, with 13 gaining and as many losing.

SAB of major brewer Sabeco continued to lead gains on Monday, rising 7 percent, its ceiling price. The stock seems to be enjoying a resurgence, gaining in 17 of the last 19 sessions. It rose from VND115,500 ($4.95) on March 25 to VND176,900 ($7.59) Monday, a 52 percent gain.

The stock had continuously tumbled since early January, when a new regulation doubling drink driving fines took effect. SAB was trading at VND223,830 ($9.6) per share when the stock market re-opened on January 2 after the New Year break.

PLX of petroleum distributor Petrolimex and POW of electricity generator PetroVietnam power were some of the biggest gainers this session, rising 6 percent and 4 percent respectively. The third blue chip in oil and gas, GAS of energy giant PetroVietnam Gas, also added 1.6 percent this session.

Other major gainers this session included SBT of agricultural firm TTC-Sugar, up 3 percent, MWG of electronics retail chain Mobile World, up 2.8 percent, and HPG of leading steelmaker Hoa Phat Group, up 2.4 percent.

VCB of state-owned banking giant Vietcombank was the only ticker in the banking sector to have gained this session, adding 0.7 percent.

In the opposite direction, tickers of mid-sized banks were some of the big losers, led by VPB of private VPBank and MBB of state-owned Military Bank, both shedding 2.1 percent, and STB of private Sacombank, down 1.8 percent.

CTG of VietinBank and BID of BIDV, two of Vietnam’s biggest state-owned lenders by assets, dropped 1.2 percent and 0.8 percent respectively.

Other major losing stocks included MSN of food conglomerate Masan Group, down 2 percent, ROS of real estate developer FLC Faros, 1.5 percent and BVH of insurance giant Bao Viet Group, 1.2 percent.

Meanwhile, the HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, dropped 0.71 percent, and the UPCoM-Index for stocks on the Unlisted Public Companies Market added 0.92 percent.

Foreign investors were net sellers for the 15th consecutive session on all three bourses for a total of VND407 billion ($17.45 million). Selling pressure for the third consecutive session was mostly focused on VIC of private conglomerate Vingroup, which inched up 0.1 percent, and VNM of dairy giant Vinamilk, which added 0.7 percent this session.

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