VN-Index posts biggest increase in two months

By Thuy Tien   June 3, 2021 | 03:18 am PT
VN-Index posts biggest increase in two months
An investor looks at stock prices at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
Vietnam’s benchmark VN-Index Thursday closed at 1,364.28 points, up 23.5 points, its biggest spike since April 1.

The session stayed green throughout, starting off with a 5-point rise and going to a high of 1,366 points in the afternoon session before closing with a 1.75 percent increase.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, was up 12 percent from the previous session to VND29.31 trillion ($1.27 billion), the highest figure so far this year.

The bourse was a sea of green with 339 gainers and 75 losers.

The VN30 basket, comprising the 30 largest capped stocks, saw 28 tickers gain.

The top blue-chip gainer was MBB of lender Military Bank, rising 6.9 percent to a new peak at its fifth session in the green. The ticker was also the top contributor to the growth of VN-Index, pushing it up by 2 points.

POW of electricity producer Petrovietnam Power Corporation was up 6.7 percent, its highest growth since March 5.

Other big blue-chip gainers included SBT of sugar producer Thanh Thanh Cong – Bien Hoa, up 6.5 percent, SSI of brokerage SSI Securities Corporation, up 6.3 percent, and HDB of private lender HDBank, up 5.3 percent.

Only two blue chips stayed in the red – MSN of conglomerate Masan Group, down 0.7 percent and FPT of IT giant FPT corporation, down 0.4 percent.

Foreign investors were net sellers for the fourth straight session to the tune of VND1.04 trillion, with strongest selling pressure on HPG of steelmaker Hoa Phat Group, MBB, and VIC of biggest private conglomerate Vingroup.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 2.45 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 1.43 percent.

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