VN-Index surges for second straight session

By Hung Le   February 3, 2021 | 05:45 pm GMT+7
VN-Index surges for second straight session
An investor looks at stock prices on a laptop at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
The VN-Index soared 3.32 percent, or 35.76 points, to 1,111.29 points Wednesday, with blue chips once again driving market growth.

The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, was a sea of green with 414 stocks gaining and 56 losing. Total trading volume rose over 10 percent compared to the previous session, to VND15.89 trillion ($690.61 million).

The VN30-Index for the stock market’s largest caps rose even further with 3.55 percent, accounting for 57 percent of trading volume, and saw 29 of its tickers gain compared to only one that lost.

Six stocks on the VN30 hit their ceiling prices this session, with rises of between 6.8 percent and 7 percent.

They included SBT of agricultural exporter TTC-Sugar, BVH of insurance giant Bao Viet, POW of electricity generator PetroVietnam Power, TCH of real estate developer Hoang Huy Group, VPB of private VPBank, and SSI of top brokerage SSI Securities Corporation.

Other major gainers included FPT of IT services giant FPT, up 6.1 percent, MSN of food conglomerate Masan Group, 5.8 percent, and GAS of energy giant PetroVietnam Gas, up 4.6 percent.

In the private banking sector, TPB of TPBank grew 5.09 percent, STB of Sacombank 5 percent, HDB of HDBank 3.4 percent, and TCB of Techcombank 2.9 percent.

As for state-owned banks, BID of BIDV was up 5.1 percent, CTG of VietinBank 2.9 percent, VCB of Vietcombank 2.5 percent, and MBB of mid-sized Military Bank, 3.9 percent.

Stocks in the Vingroup family, which led gains the previous session, saw their gains slow down. VIC of private conglomerate and parent Vingroup, HoSE’s largest cap, added 1.5 percent, while VHM of real estate arm Vinhomes and VRE of retail division Vincom Retail rose three percent and 3.6 percent respectively.

The most modest gainers were REE of appliances maker Refrigeration Electrical Engineering, up 0.9 percent, and VJC of budget carrier Vietjet Air, up 1 percent. MWG of electronics retailer Mobile World was the only ticker in the red, down by 0.4 percent.

Indices for the Hanoi Stock Exchange (HNX), home to mid- and smaller-caps, and the Unlisted Public Companies Market (UPCoM) rose 3.84 percent and 2.29 percent respectively.

Foreign investors net bought VND1.16 trillion on all three bourses, with net buying primarily on VIC of Vingroup, MSN of Masan Group, and the FUEVFVND, an exchange traded fund replicating performance of stocks on the VN Diamond Index.

The VN Diamond Index is a group of 14 stocks, which includes blue chips such as TCB, VPB, MBB, MWG, PNJ, CTG and FPT. The basket of stocks, selected based on their free-float capitalization, was introduced by HoSE in November 2019, and the FUEVFVND began trading on May 12 last year.

 
 
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