One-third main bourse stocks hit ceiling price

By Quang Tue May 17, 2022 | 02:36 am PT

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 rose 4.81 percent to 1,228.37 points Tuesday, its biggest single-day growth in over two years, with 30 percent of tickers hitting the ceiling.

The index stayed in the red for the first trading hour but started climbing to close 56.42 points higher.

But it has fallen by 9 percent compared to the beginning of May after closing in the red for six out of ten sessions since.

Trading value on the Ho Chi Minh Stock Exchange, on which the index is based, fell marginally to VND14.3 trillion ($618.6 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw all tickers gaining with 13 of them closing at ceiling price.

BID of state-owned lender BIDV, FPT of IT giant FPT group, MSN of conglomerate Masan Group and MWG of electronics retailer Mobile World all rose by 7 percent.

BVH of insurance company Bao Viet Holdings, CTG of VietinBank, and GVR of Vietnam Rubber Group gained 6.9 percent.

Foreign investors turned net sellers after two straight buying sessions, to the tune of VND27.76 billion. They mainly sold HPG of steelmaker Hoa Phat, SSI of leading brokerage SSI Securities and STB of HCMC-based lender Sacombank.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, gained 2.73 percent, while the UPCoM-Index for the Unlisted Public Companies Market closed 2.84 percent higher.