VN-Index sees month’s biggest gaining session

By Hung Le   January 9, 2020 | 06:12 am PT
VN-Index sees month’s biggest gaining session
An investor looks at the price boards at a local securities firm. Photo by VnExpress/Huu Khoa.
The VN-Index surged 11.17 points, or 1.18 percent, to 960.15 points Thursday, its biggest gaining session this month.

On the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, 224 stocks gained and 113 lost. Order-matched transactions fell to VND2.3 trillion ($99.34 million) from VND2.8 trillion ($121 million) last session.

The VN30-Index for Vietnam’s 30 biggest market cap stocks also surged 1.45 percent, with 24 tickers gaining and five losing. Twenty one of the blue chips rose at least 1 percent this session.

BID of BIDV, one of Vietnam’s three biggest state-owned lenders by assets, led gains with 5.4 percent, followed by DPM of state-owned Petrovietnam Fertilizer & Chemicals Corporation and VRE of retail corporation Vincom Retail, which both rose 4 percent.

CTG of VietinBank and VCB of Vietcombank, the other two of Vietnam’s three biggest state-owned banks, gained 3.7 percent and 2 percent respectively.

All stocks in the banking sector rose this session, with two other major gainers being VPB of VPBank, up 3.2 percent, and HDB HDBank, up 3 percent. Both banks are private mid-sized lenders.

VIC of Vietnam’s biggest private conglomerate Vingroup and VHM of its real estate subsidiary Vinhomes, the two biggest market cap stocks on HoSE, fell 0.3 percent and 1 percent, respectively.

ROS shares of real estate developer FLC Faros was again the stock that lost most, falling 6.8 percent, the seventh time it had hit its floor price in the previous nine sessions.

It was followed by GAS of state energy giant PetroVietnam Gas, down 1.9 percent, BVH of insurance giant Bao Viet, down 1.4 percent, and CTD of construction giant Coteccons, which shed 0.4 percent.

Meanwhile, the HNX-Index for stocks on Hanoi Stock Exchange, Vietnam’s second main bourse for small and mid-cap stocks, added 0.92 percent, while that of the UPCoM-Index for unlisted public companies rose 0.29 percent.

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