VN-Index moves closer to January peak

The session started off with a 11-point rise in the first 21 minutes of trading and remained in the green throughout the day before closing with a 17.7-point gain, the first double-digit point increase recorded in the last seven sessions.

Trading volume on the Ho Chi Minh City Stock Exchange (HoSE), on which the index is based, rose 7.7 percent to VND16.02 trillion ($693.4 million), highest in the last 10 sessions. The bourse saw 358 stocks gain and 85 lose.

VN-Index now needs another 0.67-percent gain to reach the 1,194-point peak it reached on January 15 before falling to the 1,020 range.

The VN30 basket, comprising the 30 largest capped stocks on the HoSE, saw 27 tickers gain, leading with SBT of sugar producer Thanh Thanh Cong – Bien Hoa Jsc, up 5.5 percent. This is the first gain of the ticker after six consecutive losing sessions.

It was followed by SSI of leading brokerage SSI Securities Corporation, up 5.4 percent, and BVH of insurance company Bao Viet Holdings, up 4.6 percent.

Two real estate companies were in the top 10 blue chip gainers, with TCH of Hoang Huy Investment Financial Services Jsc up 3.7 percent and VRE of retail real estate arm Vincom Retail up 3.2 percent.

All banking blue chip were in the green, led by STB of Ho Chi Minh City-based lender Sacombank, up 4.1 percent, HDB of HDBank, up 2.6 percent, and MBB of Military Bank, up 2.5 percent to the new all-time high of VND28,350.

Bucking the trend, three tickers ended in the red, led by VIC of biggest conglomerate Vingroup, down 0.5 precent, followed by PNJ of Phu Nhuan Jewelry, down 0.2 percent and MWG of electronics retail chain Mobile World, down 0.1 percent.

Foreign investors remained net sellers for the seventh session in a row to the tune of VND209 billion, with strongest pressures on TCB of largest private lender Techcombank, HPG of steelmaker Hoa Phat Group and CTG of state-owned lender VietinBank.