VN-Index kicks off new week in the green

By Hung Le   September 14, 2020 | 04:00 am PT
VN-Index kicks off new week in the green
An investor looks at stock prices on a laptop at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
The VN-Index climbed 0.63 percent to 894.57 points Monday, with mid-sized banking blue chips some of the best performers.

The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, saw 270 tickers gain and 140 lose. Total trading volume rose slightly over the previous session to VND6.38 trillion ($275.16 million), far higher than last month’s daily average of VND5 trillion.

Analysts expect the stock market to see stronger fluctuations this week as some companies publish their August business results.

The VN30-Index for the market’s largest caps rose 0.81 percent, with 21 stocks gaining and six losing. This group accounted for only 34 percent of total trading volume this session, indicating that investors are still paying more attention to non-blue chip stocks.

Some of the best performers this session were EIB of Eximbank, up 2.4 percent, MBB of state-owned Military Bank, up 1.77 percent, VPB of VPBank, up 1.5 percent and STB of Sacombank, with 1.3 percent. In Vietnam, these are considered mid-sized banks in terms of total assets.

VIC of private conglomerate Vingroup, HoSE’s largest cap, added 2.2 percent. VRE of its retail arm Vincom Retail rose 0.9 percent, while VHM of real estate arm Vinhomes shed 0.3 percent.

Other major gainers included REE of appliances maker Refrigeration Electrical Engineering, up 1.6 percent, VJC of budget carrier Vietjet Air, up 1.5 percent, and NVL of real estate developer Novaland, up 1.3 percent.

Vietnam’s three largest public lenders by assets were modest gainers this session, with VCB of Vietcombank rising 0.9 percent, BID of BIDV edging up 0.1 percent, and CTG of VietinBank keeping its opening price.

In the opposite direction, TCH of truck dealer Hoang Huy Group led losses with 1.2 percent, followed by GAS of energy giant PetroVietnam Gas, with 0.6 percent, and SBT of agricultural firm TTC-Sugar, with 0.4 percent.

HDB of mid-sized HDBank was the only banking blue chip to lose this session, down 0.3 percent.

Meanwhile, the HNX-Index for the Hanoi Stock Exchange, home to mid- and small-capped stocks, added 0.97 percent, and the UPCoM-Index for the Unlisted Public Companies Market rose 0.54 percent.

Foreign investors continued to be net sellers to the tune of over VND450 billion on all three bourses, with selling pressure mainly on VHM of Vinhomes and HPG of steelmaker Hoa Phat Group, which rose 0.6 percent this session.

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