VN-Index inches up, but most stocks in the red

By Hung Le   January 15, 2020 | 01:33 am PT
VN-Index inches up, but most stocks in the red
An investor looks at stock boards at a securities firm in HCMC. Photo by VnExpress/Huu Khoa.
Strong gains by several blue chips drove the VN-Index up 0.06 percent to 967.56 points Wednesday, even as most stocks fell.

188 stocks lost while 125 gained on the Ho Chi Minh Stock Exchange (HoSE), on which VN-Index is based.

Order-matched transactions fell slightly over the previous session, reaching VND1.98 trillion ($85.40 million), but nowhere near last month’s average trading of VND2.8 trillion ($120.79 million) worth of shares per session.

The VN30-Index for Vietnam’s 30 biggest market caps edged up 0.07 percent, with 14 losing tickers and eight gaining, but most losing stocks shed below 0.5 percent this session.

VPB of private mid-sized lender VPBank led gains this session with 2.4 percent, followed by BID of BIDV, one of the three largest state-owned banks in Vietnam, up 1.8 percent.

The other two, CTG of VietinBank, rose 0.4 percent, while VCB of Vietcombank shed 0.1 percent.

Other gainers included PNJ of Phu Nhuan Jewelry, up 1.2 percent, HPG of leading steelmaker Hoa Phat Group, 0.6 percent, and SAB of Vietnam’s biggest brewer Sabeco, 0.4 percent.

The two largest market cap stocks on the VN30, VIC of Vietnam’s biggest private conglomerate Vingroup, and VHM of the former’s real estate arm Vinhomes, both kept their opening price this session.

In the other direction, ROS shares of real estate developer FLC Faros was again the biggest losing stock on HoSE, having fallen 6.6 percent, its floor price.

This is the tenth session in the past three weeks that ROS has been the biggest losing stock on the market, having seen its value plummet over 45 percent since Christmas.

Other big losers this session included VRE of Vincom Retail, Vingroup’s retail arm, which fell 1.6 percent, followed by HDB of private lender HDBank and GAS of state-owned energy giant PetroVietnam Gas which both fell 0.9 percent.

Meanwhile, HNX-Index for stocks on Hanoi Stock Exchange, Vietnam’s second main bourse for small and mid-cap stocks, fell 0.17 percent, while UPCoM-Index for unlisted public companies also lost 0.61 percent.

Foreign investors were net sellers after four consecutive net buying sessions, with a net sell value of VND33.1 billion ($1.43 million) on HoSE. Selling pressure was mostly focused on HPG of Hoa Phat Group and VNM of Vietnam’s biggest dairy firm Vinamilk.

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