VN-Index hits 10-month peak

By Hung Le   November 19, 2020 | 04:55 am PT
VN-Index hits 10-month peak
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 climbed 1 percent to 983.26 points Thursday, its highest level since January 22, on its third straight gaining session.

The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, saw 254 stocks gaining and 176 losing, with 18 hitting their ceiling prices and none hitting the floor.

Total trading volume rose marginally over the previous session, reaching VND10.7 trillion ($460.19 million). Liquidity on the HoSE in the past two weeks have been at their highest levels historically, as daily trading volume even before Covid-19 rocked Vietnam’s equity markets in early January seldom surpassed VND5 trillion.

The VN-Index climbed steadily throughout the day, and saw little change at-the-close session, when trading is expected to surge as investors finalize their positions on the futures contracts.

The VN30-Index for the stock market’s 30 largest caps rose 0.77 percent, with 21 rising and six falling. The VN30 stocks accounted for nearly 60 percent of total trading volume.

Topping gains were SBT of agricultural exporter TTC-Sugar, up 6.5 percent, followed by SAB of major brewer Sabeco, with 5.5 percent.

Oil and gas were some of the best performers, with PLX of petroleum distributor Petrolimex surging 4.8 percent, GAS of energy giant PetroVietnam Gas, 2.6 percent, and POW of electricity generator PetroVietnam Power, 1.2 percent.

Of Vietnam’s three largest state-owned lenders by assets, VCB of Vietcombank led gains with 3 percent, followed by CTG of VietinBank, up 1.7 percent, and BID of BIDV, up 0.9 percent.

Results were mixed in the private banking sector, with VPB of VPBank rising 2.4 percent and TCB of Techcombank up 0.2 percent. STB of Sacombank kept its opening price, while HDB of HDBank and EIB of Eximbank shed 0.8 percent and 0.3 percent respectively.

Other major gainers included FPT of IT services giant FPT, up 2 percent, HPG of steelmaker Hoa Phat Group, 1.7 percent, and VRE of mall operator Vincom Retail, up 1.5 percent.

In the opposite direction, MSN of food conglomerate Masan Group led losses with 1.1 percent, followed by VIC of private conglomerate Vingroup, down 0.9 percent, and MBB of state-owned mid-sized Military Bank, down 0.8 percent.

The HNX-Index for the Hanoi Stock Exchange, home to mid- and small-caps, was up 0.03 percent, and the UPCoM-Index for the Unlisted Companies Market added 0.26 percent.

Foreign investors continued to be net buyers to the tune of over VND285 billion on all three bourses, with buying pressure mostly on VJC shares of budget carrier Vietjet Air, which was up 0.2 percent, and VNM of Vinamilk.

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