VN-Index up for second straight session

By Hung Le   November 18, 2020 | 02:24 am PT
VN-Index up 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 gained 0.48 percent to 973.53 points Wednesday, with liquidity again at this year's highest levels.

The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, was predominantly green with 224 tickers rising and 176 falling. Of these, 20 stocks hit their ceiling prices, the highest they could go in a trading session.

Total trading volume surged 25 percent over the previous session, to VND10 trillion ($431.9 million), more than double average trading, which was around VND3-4 trillion per session, on the bourse before January 2019, when Covid-19 began to rock equity markets in Vietnam.

According to the latest report by securities firm BVSC, the market is partly reacting to positive macro news that Vietnam’s total import and export value in October improved 0.4 percent over the previous month, to VND51.58 billion, as reported by the General Department of Customs.

The VN30-Index for the stock market’s largest caps climbed 0.32 percent, with 13 stocks gaining and 12 losing..

Topping gains was GAS of energy giant PetroVietnam Gas, up 6 percent. In the same sector, POW of electricity generator PetroVietnam Power added 0.8 percent, while PLX of petroleum distributor Petrolimex kept its opening price.

Manufacturing stocks were some of the best performers, with HPG of steelmaker Hoa Phat Group rising 3.7 percent, SBT of agricultural exporter TTC-Sugar 2.2 percent, and VNM of dairy giant Vinamilk, with 1.7 percent.

Other major gainers included STB of private Sacombank, up 2.5 percent, VRE of mall operator Vincom Retail, 1.1 percent, and CTG of state-owned banking giant VietinBank, with 0.8 percent.

In the opposite direction, MSN of food conglomerate led losses with 2.5 percent, followed by VHM of real estate developer Vinhomes and MWG of electronics retailer Mobile World, both down 1.3 percent.

Other major losing stocks included VIC of private conglomerate Vingroup, down 1 percent, PNJ of jewelry retailer Phu Nhuan Jewelry, with 0.7 percent, and BID of state-owned lender BIDV, down 0.6 percent.

The HNX-Index for the Hanoi Stock Exchange, home to mid- and small-caps, was up 0.15 percent, and the UPCoM-Index for the Unlisted Companies Market lost 0.41 percent.

Foreign investors turned net buyers to the tune of over VND440 billion on all three bourses, scooping up mostly VIC shares of Vingroup and VNM of Vinamilk.

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