VN-Index inches up with falling trade value

The index mostly stayed in the red in the morning before regaining growth in the afternoon.

It closed 6.49 points higher, but still stayed near the seven-week low after dropping nearly 53 points in the last five sessions.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, dipped 25 percent to VND21.8 trillion ($953 million).

The VN30 basket, comprising the 30 largest capped stocks, saw 18 tickers in the green, led by POW of state-owned Petrovietnam Power with a 4.8 percent increase after losing for four sessions in a row.

PNJ of Phu Nhuan Jewelry rose 4.5 percent, and MSN of conglomerate Masan Group increased 3.7 percent.

Other gainers included VPB of private lender VPBank, up 2.5 percent, and VJC of budget airline Vietjet, up 2.1 percent.

Eight blue chip tickers fell, with VCB of largest state-owned lender Vietcombank losing 3.7 percent to its two-month low.

SAB of brewer Sabeco dropped 1.8 percent, and PDR of property developer Phat Dat Group closed 1.4 percent lower.

Foreign investors were net sellers for the seventh session in a row to the tune of VND433 billion with focus on HPG of steelmaker Hoa Phat and SSI of leading brokerage SSI Securities.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 1.59 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 0.44 percent.