VN-Index rises to new peak

By Dat Nguyen   May 12, 2021 | 01:24 am PT
VN-Index rises to new peak
An investor looks at stock prices on the screens at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
Vietnam’s benchmark VN-Index surged 1.04 percent to a new peak of 1,269.09 points Wednesday, led by finance and consumer goods stocks.

The index fluctuated around 1,255 points in the morning before strong buying demand in the last hour of trading pushed it up by over 13 points. The index has gained nearly 15 percent this year.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell nearly 8 percent to VND20.92 trillion. The bourse saw 309 tickers gain and 102 lose.

The VN30 basket, comprising the 30 largest capped stocks, was a sea of green with 26 gainers led by STB of Ho Chi Minh City-based lender Sacombank with a ceiling increase of 6.9 percent to a new peak.

The ticker has experienced an upward trend since early February and has gained 56 percent this year.

Other banking tickers that gained include TCB of the largest private lender Techcombank, up 4.8 percent to a new peak, and TPB of private TPBank, up 3.1 percent.

These tickers helped push the finance sector up 2.45 percent this session, the highest of all sectors.

The consumer goods sector followed with a 1.57 percent rise, with SBT of sugar producer Thanh Thanh Cong – Bien Hoa JSC rising 6.5 percent to a new peak.

The rise broke the downward trend of the ticker that began mid-March.

MSN of consumer goods producer Masan Group rose 2.5 percent and is now 3 percent away from surpassing its previous peak on April 19.

Foreign investors were net sellers for the second session in a row to the tune of VND566 billion with strongest pressure on HPG of steelmaker Hoa Phat Group and NVL of real estate developer Novaland Group.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.92 percent, while the UPCoM-Index for the Unlisted Public Companies Market upped 0.49 percent.

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