VN-Index rebounds after large losing session

By Hung Le   November 17, 2020 | 03:45 am PT
VN-Index rebounds after large losing session
An investor looks at stock prices on a screen at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
The VN-Index soared 1.90 percent to 968.90 points Tuesday, after opening the new week with its biggest single-session loss in a fortnight.

The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, saw 320 stocks gain and 104 lose. Of these, 16 stocks rose to their ceiling prices and three did the exact opposite, hitting their floor prices.

Total trading volume was VND7.9 trillion ($342 million), on par with last month’s average trading per session.

The VN30-Index for the stock market’s 30 largest caps rose even higher, by 2.04 percent, with 29 stocks gaining and one keeping its opening price.

The best performers this session were GAS of energy giant PetroVietnam Gas, up 4.1 percent, VIC of private conglomerate Vingroup, 3.9 percent, and TCH of truck dealer Hoang Huy Group, 3.6 percent.

Other major gainers included HPG of steelmaker Hoa Phat Group, up 3.4 percent, SSI of brokerage Saigon Securities Inc., 3.1 percent, PNJ of jewelry retailer Phu Nhuan Jewelry, 2.6 percent, and VHM of real estate developer Vinhomes, up 2.2 percent.

Private banks performed relatively better than their state-owned counterparts in percentage gains, but because of their smaller market caps, had less impact on the VN-Index. VPB of VPBank climbed 3.5 percent, HDB of HDBank and TCB of Techcombank, both up 2 percent, STB of Sacombank 1.5 percent, and EIB of Eximbank, 0.9 percent.

Of Vietnam’s three largest state-owned lenders by assets, VCB of Vietcombank was up 2.1 percent, CTG of VietinBank, 1.9 percent, and BID of BIDV, 1 percent. MBB of mid-sized Military Bank rose 2.6 percent.

Tickers that gained the least this session included ROS of construction firm FLC Faros, which kept its opening price, followed by SAB of major brewer Sabeco, up 0.2 percent, SBT of agricultural firm TTC-Sugar, up 0.3 percent, and KDH real estate developer Khang Dien House, up 0.4 percent.

The HNX-Index for the Hanoi Stock Exchange, home to mid- and small-caps, was up 2.25 percent, and the UPCoM-Index for the Unlisted Companies Market gained 2 percent.

Foreign investors were net sellers again to the tune of over VND110 billion on all three bourses, with selling pressure mostly on HDB of HDBank and VPB of VPBank.

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