VN-Index gains with plunging trading value

By Dat Nguyen April 27, 2022 | 01:27 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 0.93 percent to 1,353.77 points Wednesday but with trading value lowest in nine months as investors sentiment remain low after recent plunges.

The index stayed in the red throughout the day but strong buying pressure in the last hour of trading pushed it up over 12 points.

Together with the Tuesday session, VN-Index has risen nearly 43 points after losing 68 points on Monday in one of the worst trading sessions in Vietnam’s stock market history.

Trading on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell nearly 31 percent to VND14.54 trillion ($633.09 million), lowest since the end of July.

The VN30 basket, comprising the 30 largest capped stocks, saw 14 tickers gained, led by HPG of steelmaker Hoa Phat Group with a 3.2 percent rise.

It was followed by STB of Ho Chi Minh City-based lender Sacombank, up 2.9 percent, and MSN of conglomerate Masan Group, up 2.6 percent.

CTG of state-owned lender VietinBank rose 2.4 percent, and GVR of Vietnam Rubber Group gained 2.1 percent.

Eleven blue chips fell, with VRE of retail real estate arm Vincom Retail falling 1.8 percent.

FPT of IT giant FPT Corporation, VNM of dairy giant Vinamilk and VPB of private lender VPBank all fell 1.2 percent.

Foreign investors were net sellers to the tune of VND261 billion, mainly selling VND of brokerage VNDirect and DXG of real estate developer Dat Xanh Group.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 3.45 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 0.22 percent.