VN-Index rises for third straight session

By Hung Le   February 13, 2020 | 04:00 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.
Edging up 0.06 percent to 938.24 points Thursday, VN-Index experienced its third consecutive gaining session.

The value of order-matched transactions on Ho Chi Minh Stock Exchange (HoSE) fell sharply by 25 percent over the previous session to VND2.4 trillion ($103.09 million), lower than last month’s average liquidity of VND2.6 trillion ($111.68 million) per session.

HoSE, on which VN-Index is based, saw 146 stocks rise and 185 stocks fall, though 22 stocks on the exchange hit ceiling prices compared to nine that floored.

VN30-Index for Vietnam’s 30 biggest market caps also added 0.11 percent, with 11 gaining tickers and 13 losers.

ROS of real estate developer FLC Faros led gains for the fifth straight session, rising 6.9 percent, and was one of two stocks to hit their price ceiling on Thursday.

The stock seems to be recovering strongly after being the biggest loser on VN30-Index over consecutive sessions during the past month. In fact, it fell to its floor price (6.7-7 percent) in about half of the sessions in this period.

SBT of TTC Sugar, a leading sugar producer in Vietnam, was the second, rising 6.8 percent this session. It is a subsidiary of private conglomerate TTC Group, which invests in real estate, agriculture, energy and education.

VPB of private lender VPBank and CTG of state-owned giant Vietcombank was the only two banking sector stocks that gained this session, having risen 2.9 percent and 0.2 percent respectively.

State-owned oil and gas blue chips also did relatively well, with GAS of energy giant PetroVietnam Gas and PLX of petroleum distributor Petrolimex gaining 1.9 percent and 1.7 percent, with POW of Vietnam’s second biggest electricity producer PetroVietnam Power retaining its opening price.

In the other direction, MBB of state-owned mid-sized lender Military Bank recorded the biggest loss at 1.2 percent. CTD of construction firm Coteccons and SSI of financial services firm Saigon Securities Inc. both shed 1.1 percent.

BID of BIDV and VCB of Vietcombank, two of Vietnam’s three largest state-owned lenders by assets, lost 0.8 percent and 0.1 percent, respectively.

Other major losers included MWG of electronics retailer Mobile World, down 0.9 percent, and MSN of food conglomerate Masan Group, down 0.6 percent. 

Meanwhile, HNX-Index for stocks on Hanoi Stock Exchange, Vietnam’s second main bourse for small and midcap stocks, fell 0.3 percent, while UPCoM-Index for unlisted public companies added 0.46 percent.

Foreign investors were again net sellers to the tune of VND13 billion ($558,400) worth of shares across all three bourses. Selling pressure was focused most on MSN of Masan Group and CTG of Vietinbank.

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