VN-Index rises amid trading value surge

By Dat Nguyen   March 10, 2021 | 06:31 pm GMT+7
VN-Index rises amid trading value surge
An investor looks at stock prices on a screen at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
Vietnam’s benchmark VN-Index rose 0.7 percent to 1,170 points Wednesday with trading value hitting a seven-week high.

The index started off in the red but gradually climbed throughout the session before ending with an 8.11-point gain. The increase ended four consecutive sessions stuck in the 1,160 range.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, surged 18.5 percent to VND17.93 trillion ($776 million), the highest since Jan. 19. The bourse saw 279 stocks gain and 177 lose.

The VN30 basket, comprising the 30 largest capped stocks on the HoSE, saw 25 stocks gain, with four real estate companies among the top 10 gainers.

KDH of real estate firm Khang Dien House led the basket with a 2.9 percent gain, ending a chain of four losing sessions.

It was followed by MBB of Military Bank, up 2.4 percent, and MWG of electronics retail chain Mobile World, up 1.9 percent.

Other real estate gainers include VHM of real estate giant Vinhomes, up 1.7 percent, and TCH of real estate company Hoang Huy Investment Financial Services JSC, up 1.6 percent.

VIC of biggest conglomerate Vingroup gained 1.6 percent after seven losing and unchanging sessions.

Foreign investors net sold for the 14th session in a row but with net selling value narrowed by 58 percent from Tuesday. Selling pressures were strongest on VNM of dairy giant Vinamilk, CTG of state-owned lender VietinBank and HPG of steelmaker Hoa Phat Group.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, gained 0.86 percent, while the Unlisted Public Companies Market rose 0.88 percent.

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