VN-Index recovers slightly after historic losing session

By Hung Le   March 10, 2020 | 04:30 am PT
VN-Index recovers slightly after historic losing session
An investor looks at stock boards at a securities firm in HCMC. Photo by VnExpress/Huu Khoa.
The VN-Index added 0.24 percent to 837.5 points Tuesday, after plunging over 6 percent the previous session, its biggest single-day drop since 2001. 

204 tickers gained and 164 lost on the Ho Chi Minh Stock Exchange (HoSE), home to large caps, and on which the benchmark VN-Index is based.

Liquidity remained high, with order-matched transactions reaching VND3.66 trillion ($157.11 million), compared to the average of VND2.77 trillion ($118.91 million) last month.

The VN30-Index for the bourse’s 30 biggest market caps rose 0.85 percent, with 12 gaining and 13 losing.

VNM of Vietnam’s biggest dairy firm Vinamilk topped gainers with 4.8 percent, followed by HPG of leading steelmaker Hoa Phat Group, 3.8 percent, and FPT of IT services giant FPT, 2.8 percent.

CTG of VietinBank and VCB of Vietcombank, two of Vietnam’s three biggest state-owned lenders by assets, were also among the bigger gainers, rising 2.1 percent and 1.7 percent respectively. BID of BIDV, the third, shed 2.8 percent.

Other blue chips in the green this session included VHM of real estate developer Vinhomes, the market’s second highest-capped stock, up 1.6 percent, VJC of budget carrier VietJet Air, 0.9 pecent, and MSN of food conglomerate Masan Group, 0.8 percent.

In the opposite direction, ROS was the biggest losing ticker with a 5. percent drop. The blue chip is currently one of the most volatile VN30 stocks, swinging from floor to ceiling prices for most sessions in the past month.

The top four losers also included two tickers in the oil and gas industry. PLX of state-owned petroleum distributor Petrolimex shed 5.3 percent, and GAS of state-owned energy giant PetroVietnam Gas dropped 5 percent.

Other major losing stocks included BVH of insurance giant Bao Viet Group, down 5.1 percent, MWG of electronics retailer chain Mobile Worlds, 2.1 percent and PNJ of PhuNhuan Jewelry, down 1.9 percent.

Meanwhile, the HNX-Index for stocks on the Hanoi Stock Exchange, Vietnam’s second main bourse for small and midcap stocks, tumbled 1.69 percent, while the UPCoM-Index for unlisted public companies shot up 1.85 percent.

Foreign investors were net sellers for the 20th consecutive session on all three bourses, with a net sell value of VND385 billion ($16.56 million). Selling pressure was mostly focused on MSN of Masan Group, and HPG of Hoa Phat Group.

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