VN-Index hits three-week high

By Dat Nguyen   July 30, 2021 | 03:41 pm GMT+7
VN-Index hits three-week high
An investor looks at stock prices on a laptop at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
Vietnam’s benchmark VN-Index gained 1.27 percent to 1,310.05 points Friday, a three-week high, with trading value highest in nine sessions.

The index was in the green throughout the day and closed with a 16-point gain. This fifth straight session in the green brough it back to the 1,300 range for the first time since July 9.

Trading value surged 33 percent to VND21.7 trillion ($947 million), the highest since July 19, showing investors are willing to pour more cash into the market after a period of observation.

The VN30 basket, comprising the 30 largest capped stocks, was a sea of green with 27 tickers gaining, led by VPB of private lender VPBank with a 5.7 percent increase.

The bank on Thursday announced it would pay dividends of over 62 percent and issue new shares to existing shareholders.

REE of industrial appliance maker Refrigeration Electrical Engineering Corporation rose 5 percent, while MSN of conglomerate Masan Group added 4.9 percent.

PNJ of Phu Nhuan Jewelry rose 3 percent while KDH of real estate firm Khang Dien House gained 2.3 percent.

Other banking tickers that gained included STB of Ho Chi Minh City-based lender Sacombank, up 2 percent, MBB of MBBank, up 1.8 percent and CTG of state-owned lender VietinBank, up 1.5 percent.

Only two blue chip tickers ended in the red: VJC of budget airline Vietjet, down 1.2 percent, and VNM of dairy giant Vinamilk, down 0.8 percent.

Foreign investors were net buyers to the tune of VND449 billion with strongest pressure on SSI of leading brokerage SSI Securities Corporation and MSN.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, gained 1.25 percent while the UPCoM-Index for the Unlisted Public Companies Market rose 0.92 percent.

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