VN-Index inches up as investors stay neutral

By Dat Nguyen   September 10, 2021 | 02:25 am PT
VN-Index inches up as investors stay neutral
An investor looks at stock prices on the screens at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam’s benchmark VN-Index rose 0.1 percent to 1,345.31 points Friday with trading value sidestepping as investors tread carefully amid uncertainties over economic reopening.

The index struggled to break off the 1,340-range and closed only one point higher. It is still a long way from returning to the 1,375-point mark achieved on Aug. 19.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, hit VND19 trillion ($846.42 million) for the third session in a row.

The possibility of reopening the economy as mentioned by government officials seems to have not inflamed investors who are waiting for a more specific plan and timeframe.

Uncertainty is reflected in the 30 largest capped stocks with 15 tickers closing in the red, with five unchanged.

Several banking stocks fell, led by HDB of HDBank with a 1.9 percent drop, followed by TPB of private TPBank, down 1.1 percent, and MBB of lender MB, down 0.7 percent.

HPG of steelmaker Hoa Phat Group and MSN of conglomerate Masan Group both fell 0.8 percent.

Ten blue chip tickers gained, led by PNJ of Phu Nhuan Jewelry with a 3.9 percent increase to a three-week high.

BVH of insurance company Bao Viet Holdings and VRE of retail real estate arm Vincom Retail both gained 2 percent.

Foreign investors were net sellers for the 11th session in a row to the tune of VND734 billion with strongest pressure on VHM of real estate giant Vinhomes and VNM of dairy giant Vinamilk.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.11 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 0.61 percent.

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