VN-Index jumps from bottom

By Dat Nguyen   October 12, 2022 | 01:04 am PT
VN-Index jumps from bottom
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 surged 2.84% to 1,034.81 points Wednesday, bouncing back from this year’s bottom, with foreign investors pouring big bucks to buy the dip.

The index closed 28.6 points higher after losing 36.3 points Tuesday.

Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 10.9% to VND11.47 trillion ($479.06 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 27 tickers gain, seven of them hit ceiling.

KDH of real estate firm Khang Dien House, ACB of Asia Commercial Bank and HPG of steelmaker Hoa Phat Group led with a 6.9-7% rise.

They were followed by four banks: MBB of lender MB, STB of Ho Chi Minh City-based lender Sacombank, BID of state-owned lender BIDV and CTG of state-owned lender VietinBank.

Other strong gainers included SSI of leading brokerage SSI Securities Corporation, up 6.5%, TPB of private TPBank, up 5.9% and VPB of private lender VPBank, up 4.2%.

PDR of Phat Dat Real Estate Development was the only blue chip that fell by 0.3%.

Foreign investors were net buyers to the tune of VND1.23 trillion, mainly buying HPG, KBC of industrial real estate developer Kinh Bac City and DGC of Duc Giang Chemicals Group.

The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was up 2.13% while the UPCoM-Index at the Unlisted Public Companies Market rose 1.27%.

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