Vietnam stocks tiptoe up as investors stay watchful

By Dat Nguyen   July 8, 2022 | 12:52 am PT
Vietnam stocks tiptoe up as investors stay watchful
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 0.41 percent to 1,171.31 points Friday as investors showed caution in “buying the dip” after the Wednesday plunge.

The index closed nearly five points higher after gaining 17 points on Thursday. It fell to a 16-month low on Wednesday as inflation and geopolitical concerns continue to plague global markets.

Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 15 percent to VND10.42 trillion ($446 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 12 tickers gained.

SSI of leading brokerage SSI Securities Corporation hit the ceiling with a 6.8 percent rise to a three-week high.

HPG of steelmaker Hoa Phat Group gained 3.2 percent, and GVR of Vietnam Rubber Group rose 2.2 percent.

Fourteen blue chips dropped, with the top losers being five banks, including BID of BIDV, VCB of Vietcombank and CTG of VietinBank.

Foreign investors were net sellers to the tune of VND400 billion, mainly selling DXG of real estate developer Dat Xanh Group and SSI.

The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was up 2.18 percent while the UPCoM-Index at the Unlisted Public Companies Market was up by 0.67 percent.

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