VN-Index posts gains in cautious session

On Ho Chi Minh Stock Exchange (HoSE) represented by the VN-Index, 202 stocks gained while 127 stocks lost. HoSE accounts for 90 percent of the market cap of all Vietnam’s listed companies.

Liquidity of order-matched transactions plunged to VND2.79 trillion ($120.4 million) from VND2.9 trillion ($125.15 million) the previous session, well below last month’s average of VND3.5 trillion ($151.79 million).

The VN30-Index for Vietnam’s 30 biggest market cap companies also added 0.74 percent, with 20 stocks gaining and 5 losing. MSN shares of food giant Masan Group led gains this session, clawing back 5 percent after losing a total 20.85 percent between Wednesday and last Tuesday.

Stocks had plummeted last Tuesday when Masan announced a merger deal with Vingroup, Vietnam’s biggest conglomerate, the biggest losing stock on the VN30 for five sessions since.

Vietnam’s three biggest state-owned lenders by assets all posted positive results, with BID of BIDV rising 2.2 percent, VCB of Vietcombank 1.9 percent, and CTG of Vietinbank 1.5 percent.

Stocks of private banks, including VPB of VPBank, TCB of Techcombank, and STB of Sacombank rose 2.1 percent, 2 percent and 0.5 percent respectively.

VIC of Vietnam’s biggest private conglomerate Vingroup and VHM of Vinhomes, its real estate arm, both rose one percent. The two stocks are currently first and second in terms of market cap on HoSE.

HPG of steelmaker Hoa Phat Group lost 0.8 percent, followed by VRE, Vingroup’s retail arm Vincom Retail, which lost 0.7 percent. PNJ of Phu Nhuan Jewelry lost 0.1 percent, ending a three session gaining streak.

Foreign investors continued to be net sellers to the tune of VND171.58 billion ($7.44 million), with selling pressure mostly on VHM of Vinhomes and HPG of Hoa Phat Group.

Meanwhile, the HNX-Index for stocks on Hanoi Stock Exchange, Vietnam’s second main bourse for small and mid-cap stocks, added 0.32 percent, while the UPCoM-Index for Unlisted Public Companies rose 0.21 percent.