VN-Index tops 1,200 points

By Dat Nguyen   March 18, 2021 | 03:15 am PT
VN-Index tops 1,200 points
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 1.25 percent to 1,200.94 points Thursday, exceeding the psychological threshold that had the index going sideways for over a month.

The index stayed in the 1,190 range throughout the day with a surge in at-the-close buying orders helping it end the day with a near 15-point gain, a new peak this year.

VN-Index is now over three points away from its previous historic peak of 1,204.33 on April 9, 2018.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell 2.5 percent to VND15.4 trillion ($671 million). The bourse saw 250 stocks gain and 178 lose.

The VN30 basket, which comprises the 30 largest capped stocks, was a sea of green with 24 gainers led by four banks.

TCB of the largest private lender Techcombank rose 4.1 percent to a new all-time high.

The ticker has enjoyed an upward trend since the end of January when the market plunged, gaining over 34 percent.

BID of state-owned lender BIDV followed with a 3.9 percent increase to the highest level since Jan. 22.

VPB of private lender VPBank gained 2.8 percent and CTG of state-owned lender VietinBank rose 2.4 percent, both to a new all-time high.

Foreign investors continued to be net sellers for the 19th session to the tune of VND350 billion, down 65.5 percent.

Selling pressure was strongest on CTG of state-owned lender VietinBank, MSB of Vietnam Maritime Commercial Bank and VNM of dairy giant Vinamilk.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.34 percent, while the UPCoM-Index for the Unlisted Public Companies Market fell 0.02 percent.

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