VN-Index returns to 1,300 points

By Dat Nguyen   August 25, 2021 | 12:59 am PT
VN-Index returns to 1,300 points
An investor points at stock prices on a screen at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam’s benchmark VN-Index climbed 0.83 percent to 1309.55 points Wednesday but with trading value plunging as investors remain pessimistic about a quick recovery.

The index fluctuated around 1,300 points throughout the day and closed with a near 11-point gain, ending a chain of three losing sessions.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell 28 percent to VND16.78 trillion ($736.63 million), the lowest in nearly four weeks.

The VN30 basket, comprising the 30 largest capped stocks, saw 25 tickers in the green led by POW of electricity producer Petrovietnam Power Corporation with a 6.6 percent gain.

It was followed by MSN of conglomerate Masan Group, up 5.1 percent, and GVR of Vietnam Rubber Group, up 3.5 percent.

SAB of brewer Sabeco and VJC of budget airline Vietjet both rose 3.4 percent. VJC has gained three sessions in a row.

Other gainers included TPB of private TPBank, up 2.5 percent, and GAS of state-owned Petrovietnam Gas, up 1.5 percent.

Three blue chip tickers ended in the red, led by CTG of state-owned lender VietinBank, down 1.8 percent.

VIC of biggest private conglomerate Vingroup fell 0.8 percent, its fourth losing session in a row.

Foreign investors were net sellers to the tune of VND12 billion with strongest pressure on VHM of real estate giant Vinhomes and HPG of steelmaker Hoa Phat Group.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 1.27 percent, while the UPCoM-Index for the Unlisted Public Companies Market gained 0.44 percent.

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