VN-Index posts strongest gain in 6 weeks

By Dat Nguyen September 9, 2022 | 12:54 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 1.15% to 1,248.78 points Friday, its biggest since August 1.

The index closed 14.18 points higher after losing 8.57 points on Thursday.

Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 4.27% to VND13.8 trillion ($586.61 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 21 tickers gain. HPG of steelmaker Hoa Phat Group led with a 3% rise. It was followed by POW of electricity producer Petrovietnam Power Corporation and VJC of budget airline Vietjet, both went up 2.6%.

VIC of biggest private conglomerate Vingroup rose 2.4% and was the biggest contributor to VN-Index’s gain this session.

Four blue chips fell, with PDR of Phat Dat Real Estate Development losing 0.9%.

STB of Ho Chi Minh City-based lender Sacombank, MBB of lender MB and NVL of real estate developer Novaland Group fell by 0.4-0.6%.

Foreign investors were net buyers to the tune of VND178.09 billion, mainly buying HPG and VIC.

The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was up 0.88% while the UPCoM-Index at the Unlisted Public Companies Market was up by 0.37%.