VN-Index surges in second straight gaining session

By Hung Le   May 26, 2020 | 03:04 am PT
VN-Index surges in second straight gaining session
An investor looks at stock prices on a smartphone at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
The VN-Index rose 1.17 percent to 869.13 points Tuesday, with financial and industrial real estate stocks strong performers this session.

The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, saw 277 stocks gain and 105 lose. Total transaction volume remained at an above-average level, but fell slightly from the previous session to VND5.55 trillion ($239.51 million).

The VN30-Index for the stock market’s 30 largest caps added 0.96 percent, with 24 tickers gaining and only four losing.

BID of state-owned banking giant BIDV, one of Vietnam’s three biggest lenders by assets, topped gains surging 5.9 percent. It was followed by SSI of brokerage Saigon Securities Inc., up 5.5 percent, and BVH of insurance giant Bao Viet Group, with 5.1 percent.

Next were REE of appliances maker Refrigerated Electrical Engineering, which rose 4.2 percent, HPG of leading steelmaker Hoa Phat Group, with 4 percent, and POW of electricity generator PetroVietnam Power, up 3.9 percent.

Among the state-owned banking blue chips, VCB of giant Vietcombank and MBB of mid-sized Military Bank both gained 1.7 percent, while CTG of giant VietinBank rose 0.4 percent.

Stocks of private banks were among the more modest gainers this session, with HDB of HDBank rising 1 percent, VPB of VPBank 0.6 percent, TCB of Techcombank 0.5 percent, and EIB of Eximbank keeping its opening price.

In the opposite direction, VIC of private conglomerate Vingroup and VHM of its real estate arm Vinhomes, the first and third biggest capped stocks on the VN30, fell 0.2 percent and 0.5 percent respectively.

VJC of budget carrier Vietjet Air edged down 0.1 percent, while ROS of real estate developer FLC Faros, the VN30’s smallest cap, topped losses again with 0.9 percent.

Outside the VN30, stocks of industrial real estate businesses were some of the best performers. ITA of Tan Tao Investment and Industry Corporation and TIP of Tin Nghia Industrial Park Development JSC jumped 6.8 percent and 6.9 percent, both hitting their ceiling prices.

SZC of SONADEZI Chau Duc Company surged 4.2 percent, KBC of Kinh Bac City Development Company rose 4 percent, and LHG of Long Hau Corporation added 2.25 percent. Some smaller capped industrial real estate stocks listed on the Hanoi Stock Exchange (HNX), home to mid- and small-caps, soared over 10 percent this session. 

The HNX-Index for stocks on Hanoi Stock Exchange rose 1.23 percent, while the UPCoM-Index for stocks on Unlisted Public Companies Market added 0.73 percent.

Foreign investors continued to be net sellers on all three bourses to the tune of VND60 billion ($2.59 million), with selling pressure mostly on stocks outside the VN30, including VSC of Vietnam Container Shipping JSC, which rose 4.85 percent, and DBC of food processing firm Dabaco, which added 1.88 percent.

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