VN-Index shoots up with money poured in

By Dat Nguyen   August 16, 2021 | 12:47 am PT
VN-Index shoots up with money poured in
An investor looks at stock prices on a smartphone at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam’s benchmark VN-Index rose 1.03 percent to 1,370.96 points Monday, a five-week high, with trading value highest in over a month.

The index started rising in the beginning of the day and stayed in the green before closing with a near 14-point gain.

This is its largest gain in a day in the last five sessions. The index is now at the highest since July 8.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, surged 12 percent to VND27.5 trillion ($1.2 billion), highest since July 12.

Analysts at Vietcombank Securities said in a recent note that rising trading value shows investors have become more optimistic in VN-Index’s recovery.

The VN30 basket, comprising the 30 largest capped stocks, saw 18 tickers in the green, led by GVR of Vietnam Rubber Group with a 6.9 percent increase to a new peak.

SSI of leading brokerage SSI Securities Corporation rose 5.3 percent, also to a new peak.

MBB of lender MB went up 4.7 percent to the highest since July 9.

Other banks that gained include TCB of the largest private lender Techcombank, up 3.4 percent, VPB of private lender VPBank, up 3.1 percent, and HDB of HDBank, up 2.9 percent.

On the losing side, VHM of real estate giant Vinhomes fell 3.3 percent and brought VN-Index down by 3.6 points.

Foreign investors were net sellers for the fifth session in a row to the tune of VND955 billion, with strongest pressure on VHM and VIC of biggest private conglomerate Vingroup.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, gained 1.95 percent while the UPCoM-Index for the Unlisted Public Companies Market rose 2.03 percent.

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