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VN-Index starts week with another new peak

By Dat Nguyen   November 8, 2021 | 02:53 am PT
VN-Index starts week with another new peak
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 0.76 percent to 1,467.57 points Monday, another new peak, as the number of new securities accounts in October hit its second highest level in history.

The index stayed in the green throughout the day and closed 11 points higher in its third straight gaining session. It has been surging in the last two weeks, having risen by 82 points.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, surged 20 percent to VND31.44 trillion ($1.39 billion).

Recent data from Vietnam Securities Depository showed over 129,200 new securities accounts were opened in October, the second highest monthly figure in history behind June, showing rising interests in stock amid low deposit rates.

Analysts of brokerage Yuanta Vietnam forecast the index is heading toward the resistance of 1,500 points this week.

The VN30 basket, comprising the 30 largest capped stocks, saw 17 tickers in the green, led by SSI of leading brokerage SSI Securities Corporation, up 3.7 percent to a new peak.

MSN of conglomerate Masan Group also rose to a new peak with a 2.8 percent gain. VNM of dairy giant Vinamilk gained 1.8 percent, continuing its sideways trend. GVR of Vietnam Rubber Group and PLX of fuel distributor Petrolimex both rose 1.5 percent.

Twelve blue chip tickers fell, with PDR of Phat Dat Real Estate Development losing 1.9 percent and VPB of private lender VPBank dropping 1.1 percent.

Foreign investors were net buyers to the tune of VND504 billion, with strongest demand on HPG of steelmaker Hoa Phat Group and VNM.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 1.04 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 0.77 percent.

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