VN-Index recovers from four-session plunge

By Hung Le   December 19, 2019 | 09:33 pm GMT+7
VN-Index recovers from four-session plunge
Investors watch price boards at a securities company in Ho Chi Minh City. Photo by VnExpress/Huu Khoa.
The VN-Index clawed back 1.13 points Thursday after four consecutive losing sessions, gaining 0.12 percent to reach 952.26 points.

Vietnam’s benchmark index gained despite 163 stocks losing compared to 147 gaining on the Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based.

Order matched transactions reached VND3.03 trillion ($131 million), a relatively cautious trading day compared to the December average of VND3.17 trillion ($137 million) so far.

The VN30-Index for Vietnam’s 30 biggest market cap stocks shed 0.11 percent, with 15 stocks losing and 10 gaining. Ten blue chips lost at least 1 percent this session, while only four gained above 1 percent.

DPM of state-owned Petrovietnam Fertilizer & Chemicals Corporation led losses with 2.3 percent, followed by BVH of insurance giant Bao Viet and EIB of private lender Eximbank with 2.1 percent each.

Private banking stocks all lost this session, while those of Vietnam’s three biggest state-owned lenders by assets did not. VCB of Vietcombank and BID of BIDV rose 1.5 and 0.5 percent respectively, and CTG of VietinBank kept its opening price.

VIC of Vietnam’s biggest private conglomerate Vingroup, and VHM of its real estate arm Vinhomes, two of the biggest market cap stocks on HoSE, retained their opening prices this session, while VRE of Vingroup’s retail arm Vincom Retail gained 1.4 percent.

The strongest gainers this session also included HPG of steelmaking giant Hoa Phat Group, which added 1.1 percent, and GMD of sea freight transportation firm Gemadept, up 1.1 percent.

Foreign investors were net buyers to the tune of VND190 billion ($8.2 million), the biggest net buying session for them in the past month. Buying pressure was focused on VNM of dairy giant Vinamilk and VCB of Vietcombank.

Meanwhile, the HNX-Index for stocks on Hanoi Stock Exchange, Vietnam’s second main bourse for small and mid-cap stocks, added 0.19 percent, while the UPCoM-Index for Unlisted Public Companies rose 0.27 percent.

 
 
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