VN-Index soars to another new peak

By Dat Nguyen October 28, 2021 | 02:30 am PT

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 surged 1.05 percent to 1,438.01 points Thursday, another historic peak, as growing market sentiment urges investors to pour more money into stock.

The index gradually climbed throughout the day and closed 15 points higher after surging 31 points Wednesday. This is its third gain in a row.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell 7.7 percent to VND26.19 trillion ($1.15 billion).

The VN30 basket, comprising the 30 largest capped stocks, saw 20 tickers end in the green, led by NVL of real estate developer Novaland Group, up 3.8 percent.

The ticker is now at a 12-week high after going sideways since early August.

MSN of conglomerate Masan Group rose 3.3 percent to a new peak.

KDH of real estate firm Khang Dien House gained 3.1 percent, continuing its upward trend, having gained 86 percent this year.

Some tickers with surging trading volume included POW of electricity producer Petrovietnam Power Corporation, up 119 percent from the average of the past 10 sessions, and VCB of state-owned lender Vietcombank, up 69 percent.

Seven blue chip tickers ended in the red, with PDR of Phat Dat Real Estate Development falling 1.9 percent, and PLX of fuel distributor Petrolimex losing 0.9 percent.

Foreign investors were net buyers for the second session to the tune of VND622 billion, with focus on HPG of steelmaker Hoa Phat Group and GAS of state-owned Petrovietnam Gas.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 1.66 percent, while the UPCoM-Index for the Unlisted Public Companies Market gained 1.67 percent.