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VN-Index posts biggest gain in four weeks

By Dat Nguyen   September 28, 2021 | 01:51 am PT
VN-Index posts biggest gain in four weeks
An investor looks at stock prices on a smartphone at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam’s benchmark VN-Index rose 1.08 percent to 1,339.31 points Tuesday, its biggest single gain in four weeks, as investors expect positive signals for an economic reopening.

The index started off in the red but gradually climbed throughout the day and closed 14-points higher after dipping to a one-month low Monday.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell nearly 16 percent to VND18.37 trillion ($805 million).

Hanoi relaxed its restrictions Tuesday by letting outdoor activities resume for groups of 10 people or less after imposing the ban on July 8.

World Bank maintained its economic growth forecast for Vietnam at 4.8 percent Tuesday, expecting a rebound in the last quarter.

The VN30 basket, comprising the 30 largest capped stocks, was a sea of green Tuesday with 24 gainers led by GAS of state-owned Petrovietnam Gas with a 5.7 percent increase.

The surge brought the ticker to a near seven-week high as it bounces back from last-month’s plunge.

BVH of insurance company Bao Viet Holdings rose 3.9 percent, making up for the same loss Monday.

HPG of steelmaker Hoa Phat Group rose 3.5 percent to a near three-month high. The ticker has been slowly climbing back from the earlier stumble in mid-July.

PNJ of Phu Nhuan Jewelry gained 2.2 percent, continuing to go sideways.

Fourth blue chip tickers ended in the red, with SAB of brewer Sabeco falling 1.2 percent and VPB of private lender VPBank down 0.3 percent.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.86 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 0.26 percent.

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