VN-Index reverses 4-session downturn

By Hung Le   November 26, 2019 | 03:30 am PT
VN-Index reverses 4-session downturn
An investor is seen behind a stock market screen at a securities company in Hanoi. Photo by Reuters/Kham.
The VN-Index closed at 976.79 points Tuesday afternoon, up 0.44 points and 0.05 percent, reversing a 4-session losing streak.

Vietnam’s benchmark index gained slightly as 191 stocks rose and 123 fell this session.

Market liquidity rose 10 percent compared to the previous session, and the market fluctuated upwards within a band of 6 points, never falling below its opening 976.79 points.

The VN-30, which represents Vietnam’s 30 biggest market cap stocks, grew 0.3 percent as 18 stocks gained and only eight stocks lost.

In this group of blue-chips, MWG stocks of electronics retail giant Mobile World gained 1.5 percent, while other gaining stocks rose 0.5 percent or less.

FPT of IT giant FPT, HPG of steelmaker Hoa Phat Group, and PNJ of Phu Nhuan Jewelry were the next best gaining stocks, having risen 0.5 percent, 0.4 percent, and 0.4 percent respectively.

Stocks of Vietnam’s three biggest state-owned banks by assets, BID of BIDV, VCB of Vietcombank, and CTG of VietinBank also gained slightly this session.

SAB shares of Sabeco, Vietnam’s biggest brewery, fell 3 percent, and was the biggest loser followed by GAS shares of state-owned energy giant PV Gas, down 1.1 percent.

Foreign investors were net sellers this session, offloading shares worth VND210 billion ($9.06 million), mostly in VCB of Vietcombank and SSI of securities company Saigon Securities Inc.

The HNX-Index for shares on the Hanoi Stock Exchange, Vietnam’s second main bourse, rose 0.51 percent, while the UPCoM-Index for the Unlisted Public Companies Market fell 0.15 percent.

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