VN-Index sees biggest single-day gain in 10 months

By Hung Le   February 2, 2021 | 08:04 pm GMT+7
VN-Index sees biggest single-day gain in 10 months
An investor looks at stock prices on a smartphone at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
The VN-Index bounced back 3.86 percent, or 40.02 points, to 1,075.53 points Tuesday, with all blue chips in the green.

The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, saw 331 stocks gaining and 130 losing. Total trading volume remained at a monthly low of VND13.16 trillion ($571.08 million).

This was the index’s biggest gaining session since March 25 last year, when it surged 4.71 percent on news of U.S. approval of a $2 trillion stimulus bill to respond to the coronavirus pandemic at the time.

The VN30-Index for the stock market’s largest caps soared 4.84 percent, with all of its 30 stocks having gained. Of these, four tickers were at their upper circuits, the highest they could go in a trading day.

Topping gains were stocks in the Vingroup family, in which parent corporation Vingroup, Vietnam’s largest conglomerate and HoSE’s largest cap, hit the ceiling price with 7 percent. VHM of real estate arm Vinhomes surged 6.9 percent, and VRE of retail arm Vincom Retail, 6.5 percent.

Altogether, these three tickers contributed over 12.5 points to the VN-Index, according to data from brokerage VNDIRECT.

VPB of private VPBank, REE of appliances maker Refrigeration Electrical Engineering, SBT of agricultural exporter TTC-Sguar, STB of private Sacombank and MBB of state-owned mid-sized Military Bank either hit or came close to their upper circuits, with rises of between 6.9 and 6.1 percent.

Of Vietnam’s three biggest state-owned lenders by assets, CTG of VietinBank and VCB of Vietcombank both rose 5.9 percent, while BID of BIDV added 0.6 percent.

Other major gainers included HPG of steelmaker Hoa Phat Group and TCB of private Techcombank, both up 5.6 percent, HDB of private HDBank, up 4.5 percent, and FPT of IT services group FPT along with TPB of private TPBank, a new addition to the VN30 in the latest review, with gains of 3.9 percent each.

Oil and gas were some of the most modest gainers on the VN30 this session, with POW of electricity generator PetroVietnam Power up 1.3 percent, GAS of energy giant PetroVietnam Gas 1.7 percent, and PLX of gasoline distributor Petrolimex, up 2.5 percent.

The HNX-Index for the Hanoi Stock Exchange, home to mid- and smaller-caps, and the UPCoM-Index for the Unlisted Public Companies Market rose 3.12 percent and 0.82 percent respectively.

Foreign investors continued to be net buyers, to the tune of nearly VND85 billion on all three bourses, with buying pressure mostly on HPG of Hoa Phat Group, VNM of dairy firm Vinamilk, which rose 3.6 percent, and VHM of Vinhomes.

 
 
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