VN-Index rises to new peak

The index dipped to around 1,402 points in the morning, but quickly shot up, and remained in the green throughout the rest of the day before closing on a near 9-point gain.

VN-Index has closed in the green in seven out of the last 10 sessions. It has gained 28 percent this year, second highest behind the Abu Dhabi General Index, according to market data provider StockQ.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, surged 24 percent to VND26.12 trillion ($1.13 billion), highest since June 9. The bourse saw 224 tickers gain and 165 lose.

The VN30 basket, comprising the 30 largest capped stocks, saw 22 tickers ending in the green, led by SSI of leading brokerage SSI Securities Corporation with a 4.5 percent gain.

The ticker has ended in the green eight sessions in a row. It has risen 77 percent this year.

It was followed by two banks, with VPB of private lender VPBank rising 4 percent and HDB of HDBank gaining 2.7 percent.

VPB is now at its highest level in over two weeks, while HDB is on a new peak.

MSN of conglomerate Masan Group rose to a new peak with a 2.7 percent gain after announcing it had bought an additional 4.7 percent stake in its retail subsidiary The CrownX.

Other gainers include HPG of steelmaker Hoa Phat Group, up 2.5 percent, and GAS of state-owned Petrovietnam Gas, up 1.3 percent.

On the losing side NVL of real estate developer Novaland Group fell 0.8 percent, while VHM of real estate giant dropped 0.7 percent.

After two net buying sessions, foreign investors turned net sellers to the tune of VND234 billion, with strongest pressure on VPB and CTG.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.74 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 0.21 percent.