VN-Index up for third straight session

By Hung Le   April 15, 2020 | 03:37 am PT
VN-Index up for third straight session
Investors look at stock prices on the screens at a brokerage in Ho Chi Minh City. Photo by VnExpress/Huu Khoa.
The VN-Index closed up 1.28 percent at 777.22 points Wednesday with most blue chips gaining alongside a dominant majority of HoSE stocks.

263 stocks gained and just 100 lost on the Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based. Total transaction volume rose 10 percent over the previous session, to VND4.64 trillion ($197.58 million) of which 73 percent was order-matched.

The VN-Index climbed steadily over the course of day, peaking at 779.5 points before falling back at the end of the session.

Foreign selling pressure showed no signs of abating with overseas investors offloading a net VND160 billion ($6.81 million) worth of HoSE-listed stocks, the 12th consecutive session they have been net sellers. Since mid-February, only one session recorded a net buy from foreign investors.

The VN30-Index for HoSE’s 30 biggest market caps added 1.26 percent, with 22 stocks in the green and five in the red.

CTD of construction giant Coteccons topped gains this session with 7 percent, its ceiling price. It was followed by SAB of Vietnam’s biggest brewer Sabeco, up 6.7 percent, and STB of private lender Sacombank with 5.9 percent.

SAB in particular, seems to be having a resurgence, gaining in 14 out of its last 16 sessions, having risen from VND115,500 ($4.92) on March 25 to VND143,400 ($6.11) Wednesday, a 24 percent gain.

The stock had continuously tumbled since early January, when a new regulation imposed by the government doubling drink driving fines came into effect. SAB was trading at VND223,830 ($9.53) per share when the stock market re-opened on January 2 after the New Year break.    

All banking sector stocks but one gained this session, with the best performing tickers being CTG of major state-owned lender VietinBank, up 3.4 percent, HDB of private HDBank, up 3.2 percent, and MBB of state-owned mid-sized lender Military Bank, up 2.8 percent.

Other major gainers included BVH of insurance giant Bao Viet Group, which added 5.2 percent, ROS of real estate developer FLC Faros, with 4.2 percent, and PNJ of jewelry retailer Phu Nhuan Jewelry with 3 percent.

In the opposite direction, VJC of budget carrier VietJet Air topped losses with 1.8 percent, followed by GAS of state-owned energy giant PetroVietnam Gas, with 0.6 percent.

VHM of real estate developer Vinhomes and VRE of mall operator Vincom Retail lost 0.3 percent and 0.4 percent, respectively. Both are subsidiaries of Vietnam’s biggest private conglomerate Vingroup, whose VIC stocks added 0.4 percent this session.

Meanwhile, the HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 1.1 percent, and the UPCoM-Index for stocks on the Unlisted Public Companies Market added 1.44 percent. 

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