VN-Index hits new peak as Masan, Hoa Phat shares rise

The index continued Tuesday’s dip in the morning, falling to the 1,230 range, before gradually climbing throughout the day and ending with a near 8-point gain. The index has surpassed the 2018 level by 4.3 percent.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, plunged 17.6 percent to VND19.34 trillion ($844 million). The bourse saw 263 tickers gain and 153 lose.

The VN30 basket, comprising the 30 largest capped stocks, saw 20 in the green, led by MSN of conglomerate Masan Group with a ceiling rise of 6.9 percent, hitting a new peak this year.

MSN, however, has only gained 13 percent this year, roughly the same as VN-Index, while many blue chips have recorded a 30 percent increase or higher thanks to the bull market.

HPG of steelmaker Hoa Phat Group rose to a new historic peak with a 5.8 percent gain, as news of the group set to begin building its container plant in June amid a global shortage of the metal box stirs investor hopes.

NVL of real estate developer Novaland Group rose for the 10th consecutive session to a new all-time peak, up 3.6 percent.

Other blue-chip gainers include CTG of state-owned lender VietinBank, up 1.7 percent, and VCB of state-owned lender Vietcombank, up 1.2 percent.

On the losing side, VHM of real estate giant Vinhomes fell 2 percent, and VRE of retail real estate arm Vincom Retail dropped 0.8 percent.

Foreign investors turned net sellers to the tune of VND1 trillion, the highest in the last 18 sessions. Selling pressure was strongest on VHM and VNM of dairy giant Vinamilk.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.9 percent, while the UPCoM-Index for the Unlisted Public Companies Market added 0.32 percent.