VN-Index posts a modest gaining session

By Hung Le   December 9, 2019 | 02:30 am PT
VN-Index posts a modest gaining session
An investor sits in front of stock market screens at a securities company in Hanoi. Photo by Reuters/Kham.
The VN-Index rose 2.5 points or 0.26 percent to 966.06 points Monday with lower liquidity than the average trading day last month.

On the Ho Chi Minh Stock Exchange, on which the VN-Index is based, 187 stocks gained and 154 lost. Liquidity of order-matched transactions had risen to VND3.04 trillion($103.85 million) from VND2.78 trillion ($119.66 million) on Friday, but still well below last months’ average of around VND3.5 trillion ($150.65 million).

However, the VN30 -Index, which represents Vietnam’s 30 biggest market cap stocks, fell 0.06 percent despite having 15 stocks gain and only 11 lose.

MSN shares of food giant Masan Group lost the most this session, having fallen 3.2 percent, followed by ROS of real estate developer FLC Faros, down 2 percent, and MBB of mid-sized lender Military Bank, down 1.8 percent.

All private banking stocks on the VN30 fell this session, including TCB of Techcombank, down 1.5 percent, VPB of VPBank, down 1 percent, EIB of Eximbank, down 0.9 percent, and CTG of state-owned giant Vietinbank, down 0.7 percent.

The biggest gainers this session were DPM of PetroVietnam Fertilizer & Chemicals Corporation, up 2.3 percent, GAS of energy giant PetroVietnam Gas, up 1.8 percent, and VRE of Vincom Retail, the retail arm of Vietnam’s biggest private conglomerate Vingroup, which added 1.7 percent.

Foreign investors were net buyers to the tune of VND57.47 billion ($2.47 million) after five consecutive net selling sessions, with buying pressure mostly on ROS shares of FLC Faros and HPG of steelmaking giant Hoa Phat Group.

Meanwhile, the HNX-Index for stocks on the Hanoi Stock Exchange, Vietnam’s second main bourse for small and mid-cap stocks, added 0.06 percent, while the UPCoM-Index for Unlisted Public Companies shed 0.14 percent.

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