VN-Index soars on foreigner buying value gain

By Dat Nguyen   April 2, 2021 | 02:50 am PT
VN-Index soars on foreigner buying value gain
An investor looks at stock prices on a screen at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
Vietnam’s benchmark VN-Index hit a new historic peak Thursday with a 0.69 percent gain to 1,224.45 points as foreign investor net buying value skyrocketed to a six-week high.

The benchmark shot up in the beginning of the session and stayed in the 1,220 range throughout the day before closing with an 8-point gain.

This is its fifth consecutive session closing in the green, climbing a total 62 points, or 5.3 percent, this week.

Foreign investors were net buyers to the tune of VND693 billion ($30.2 million), the highest since Feb. 17. They focused on purchasing PMG of oil distributor Petro Center Corporation, HPG of steelmaker Hoa Phat Group, and STB of Ho Chi Minh City-based lender Sacombank.

The VN30 basket, comprising the 30 largest capped stocks, saw 22 tickers in the green led by STB. This is its seventh gaining session in a row, up by a total of 23 percent.

It was followed by PNJ of Phu Nhuan Jewelry, up 3.7 percent to this year’s new peak. This is its biggest daily gain in two months.

BID of state-owned lender BIDV rose 2.4 percent, its fifth gaining session in a row. The ticker, however, is still 15 percent shy from this year’s peak in early January.

Other strong gainers included PDR of Phat Dat Real Estate Development, up 2.2 percent, and HDB of HDBank, up 1.7 percent.

On the losing side, five blue chips fell, led by REE of industrial appliance maker Refrigeration Electrical Engineering Corporation, down 0.4 percent. The ticker has experienced a downward trend since Feb. 18, losing nearly 10 percent.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.85 percent, while the UPCoM-Index for the Unlisted Public Companies Market added 0.69 percent.

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