VN-Index misses 1,380-point range

The index shot up to 1,385 points in the morning but quickly fell to close with a 3-point drop. It has been stuck in the 1,370-point range for the past four sessions.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell nearly 6 percent to VND21.12 trillion ($921 million). The bourse saw 298 tickers lose and 94 gain.

The VN30 basket, comprising the 30 largest capped stocks, saw 20 tickers in the red, led by SBT of sugar producer Thanh Thanh Cong – Bien Hoa with a 2.7 percent drop.

The ticker has fallen for three consecutive sessions, losing a total 5.3 percent.

Two real estate tickers followed, with PDR of Phat Dat Real Estate Development and TCH of real estate company Hoang Huy Investment Financial Services both falling 2.6 percent.

POW of electricity producer Petrovietnam Power Corporation fell 2 percent, while BVH of insurance company Bao Viet Holdings lost 1.8 percent.

Both tickers have lost more than 16 percent since their January peaks.

On the winning side, nine blue-chips ended in the green, led by VPB of private lender VPBank with a 4.5 percent gain after the bank requested its shareholders permission to pay dividends by shares and issue more shares to increase its charter capital.

Other gainers include VCB of state-owned lender Vietcombank, up 2 percent, and CTG of state-owned lender VietinBank, up 1.5 percent.

Foreign investors were again net buyers to the tune of VND164 billion with strongest pressure on VHM of real estate giant Vinhomes and VCB.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.41 percent while the UPCoM-Index for the Unlisted Public Companies Market dropped 0.07 percent.