VN-Index rebounds, approaching peak

The index stayed mostly in the green throughout the day and closed over nine points higher after dropping 10 points Tuesday.

VN-Index is now 0.72 points away from reaching its previous historic peak Monday.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, dropped 25 percent to VND26.07 trillion ($1.15 billion), the lowest in three weeks.

The VN30 basket, comprising the 30 largest capped stocks, saw 16 tickers in the green, led by PLX of fuel distributor Petrolimex with a 5.6 percent gain to the highest in three years.

SSI of leading brokerage SSI Securities Corporation rose 2.5 percent to a new peak.

BID of state-owned lender BIDV gained 1.9 percent to a one-week high.

GVR of Vietnam Rubber Group added 1.7 percent after three straight sessions in the red.

VIC of biggest private conglomerate Vingroup rose 1.6 percent.

The ticker was the biggest contributor to VN-Index’s gain this session after announcing the establishment of a U.S. headquarter for its auto unit VinFast.

Foreign investors ended a chain of three net buying session with a net sale of VND213 billion. They focused on selling VPB of private lender VPBank and HPG of steelmaker Hoa Phat Group.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.53 percent, while the UPCoM-Index for the Unlisted Public Companies Market gained 0.65 percent.