VN-Index surges to new peak

By Dat Nguyen   April 19, 2021 | 01:06 am PT
VN-Index surges to 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 hit another historic peak with a 1.77 percent gain to 1,260.58 points Monday, driven by Masan and Hoa Phat tickers.

The index was in the green mostly throughout the day, with strong buying pressure beginning at around 1.30 p.m., seeing it end with a near 22-point gain, the biggest increase in a day during the past 12 sessions.

The Ho Chi Minh Stock Exchange (HoSE), on which the index is based, saw 297 tickers in the green and 126 lose. Its trading value fell 9 percent to VND19.8 trillion.

The VN30 basket, comprising the 30 largest capped stocks, was a sea of green with 25 tickers gaining, led by MSN of conglomerate Masan Group with a ceiling increase of 7 percent.

MSN has gained nearly 17 percent since April 12, and is nearly 6 percent away from breaking its previous peak in 2018.

HPG once again climbed to another historic peak with a 5.9 percent gain, its fourth session in the green. The ticker has increased by 37 percent this year.

Several real estate companies ended in the green, with PDR of Phat Dat Real Estate Development rising 6.9 percent to a new historic peak, followed by KDH of real estate firm Khang Dien House, up 5.4 percent.

VHM of real estate giant Vinhomes rose 3.5 percent. It contributed most to the gain of VN-Index this session, bringing it up by 3 points. The ticker’s trading volume hit a new all-time record of 9.1 million shares.

Foreign investors were net sellers for the fourth session in a row to the tune of VND743 billion, up 66 percent, with strongest pressure on MSN of conglomerate Masan Group and DXG of real estate developer Dat Xanh Group.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.9 percent, while the UPCoM-Index for the Unlisted Public Companies Market added 0.24 percent.

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