​VN-Index rises for third straight session

By Hung Le   December 23, 2019 | 02:41 am PT
​VN-Index rises for third straight session
An investor looks at stock boards at a securities company in Ho Chi Minh City. Photo by VnExpress/Huu Khoa.
The VN-Index gained 3.02 points, or 0.32 percent, to reach 959.43 points Monday, its third consecutive gaining session.

141 stocks gained and 162 lost on the Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based.

The VN30-Index for Vietnam’s 30 biggest market cap stocks fell 0.02 percent, with 17 stocks gaining and 12 losing. In this basket, eight stocks gained at least 1 percent, with four of them posting gains of more than 2 percent.

BID of BIDV and VCB of Vietcombank, two of Vietnam’s three biggest state-owned lenders by assets, led gains this session with 4.7 percent and 2.9 percent respectively.

CTG of VietinBank, the third major state-owned bank, rose 1 percent. All stocks of private banks gained this session, with the exception of VPB of VPBank, which fell 1.3 percent.

Other strong gainers included PNJ of Phu Nhuan Jewellery, STB of private lender Sacombank, and GMD of logistics and sea freight firm Gemadept, which posted gains of 2.3 percent, 2 percent and 1.9 percent respectively.

The biggest losing stock this session was MSN of food giant Masan Group, down 6.2 percent, followed by CTD of construction giant Coteccons, which fell 4 percent.

This is the sixth consecutive losing session for CTD, continuing a downward streak that has lost the stock nearly 40 percent since the beginning of October, after the company announced a third consecutive quarter of declining profits.

Stocks connected to Vietnam’s biggest private conglomerate Vingroup all lost this session. VIC of parent Vingroup slipped 0.1 percent, while VHM of its real estate arm Vinhomes and VRE of Vingroup’s retail arm Vincom Retail lost 0.5 and 0.2 percent respectively.

Foreign investors were net buyers to the tune of VND40 billion ($1.72 million), with buying pressure mostly on VCB of Vietcombank and BID of BIDV, the two biggest gaining stocks this session.

Meanwhile, the HNX-Index for stocks on Hanoi Stock Exchange, Vietnam’s second main bourse for small and mid-cap stocks, lost 0.07 percent, while the UPCoM-Index for Unlisted Public Companies fell 0.35 percent.

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