VN-Index up despite overload shutdown

By Thuy Tien   June 1, 2021 | 02:41 am PT
VN-Index up despite overload shutdown
An investor looks at stock prices on a laptop at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
Vietnam’s benchmark VN-Index rose 0.73 percent to 1,337.78 points Tuesday with a system overload forcing the bourse to shut down after the morning session.

The index had shot up 18 points at around 11 a.m. before falling and closing the morning session with a gain of almost 10 points. It has gained for the last three consecutive sessions, hitting a new peak each time.

The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, saw 169 stocks gain and 244 lose, with trading value falling 14.5 percent to VND21.76 trillion ($946.2 million) because of the truncated session.

The VN30 basket, comprising the index’s 30 largest capped stocks, saw 14 tickers gain and 16 lose.

The gainers were led by HPG of steel giant Hoa Phat Group, which rose 5.3 percent to a new historic peak, pushing the index up by 2.5 points. It has been the top blue-chip gainer for two consecutive sessions, and has risen 82 percent this year.

VCB of state-owned lender Vietcombank was the biggest contributor to the growth of the index this session, driving it up by 5.1 percent as the ticker itself rose 5.2 percent.

VRE of mall operator Vincom Retail ended three straight sessions in the red with a rise of 4.4 percent, while FPT of IT giant FPT Corporation stayed in the green for its third consecutive session, rising 3.3 percent.

On the losing side, STB of Ho Chi Minh City-based lender Sacombank dropped 4.1 percent, going into the red after six gaining sessions. It was followed by VJC of budget carrier Vietjet, down 3.5 percent, and MSN of conglomerate Masan Group, down 2.8 percent.

Foreign investors turned net sellers this session to the tune of VND588 billion, with strongest selling pressure on HPG, STB and VCB tickers.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.12 percent while the UPCoM-Index for the Unlisted Public Companies Market rose 0.11 percent.

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