VN-Index up in fifth straight session

By Hung Le   July 9, 2020 | 01:01 am PT
VN-Index up in fifth 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 surged 1.38 percent to 876.46 points Thursday, with gains led by Vietnam’s top brewer Sabeco and private banks.

The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, was a sea of green with 288 stocks gaining and 92 losing.

Total trading volume was VND5.24 trillion ($227.06 million) this session, up 22 percent over the previous, but much lower than last month's average of VND6.67 trillion ($289.02 million) a session. Over half of trading was attributed to stocks on the VN30, a basket of HoSE’s biggest caps.

The VN30-Index for these stocks climbed 1.49 percent, with 28 tickers gaining and only one losing.

Topping gains for the second consecutive session was SAB of Vietnam’s largest brewer Sabeco, surging 6.2 percent.

SAB has been rising for seven consecutive sessions, gaining a total 30.6 percent, since July 1 when the government published plans to sell off its 36 percent stake in the brewer this year.

Next were stocks of three private banks. HDB of HDBank rose 4.4 percent, VPB of VPBank 4.3 percent, and TCB of Techcombank 4.2 percent. Of the remaining two, STB of Sacombank added 2.6 percent, while EIB of Eximbank retained its opening price.

Vietnam’s three biggest state-owned lenders by assets, BID of BIDV, CTG of VietinBank and VCB of Vietcombank gained 2.6 percent, 1.9 percent, and 0.7 percent respectively. MBB of mid-sized Military Bank climbed 1.7 percent.

Other major gainers this session were GAS of energy giant PetroVietnam Gas, up 3.2 percent, PNJ of jewelry retailer Phu Nhuan Jewelry, up 2.4 percent, FPT of IT services giant FPT, up 1.4 percent, and BVH of insurance firm Bao Viet Group, with 1.2 percent.

VIC of private conglomerate Vingroup, the market’s largest cap, added 0.2 percent, while VHM of its real estate Vinhomes gained 0.5 percent, and VRE of retail arm Vincom Retail rose 0.4 percent.

The only stock in the red this session was CTD of Coteccons, which fell 0.9 percent.

Meanwhile, the HNX-Index for stocks on Hanoi Stock Exchange, home to mid and small caps, rose 1.57 percent, while the UPCoM-Index for stocks on the Unlisted Public Companies Market added 0.67 percent.

Foreign investors turned net sellers to the tune of VND160 billion ($6.93 million) on all three bourses, with buying pressure mostly on HPG of Hoa Phat Group and VCB of Vietcombank.

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