VN-Index rebounds on blue chip stocks' gain

By Quang Tue   March 29, 2022 | 02:00 am PT
VN-Index rebounds on blue chip stocks' gain
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 surged 0.98 percent to 1,497.76 points Tuesday, its biggest gain in six sessions, with most blue chip tickers closing in the green.

The index stayed in the green throughout the day and closed 14.58 points higher, after plunging over 15 points Monday as speculative stocks bottomed.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, declined by nearly a third to VND23.49 trillion ($1.03 billion).

FLC of real estate giant FLC and related stocks, such as AMD of FLC Stone Mining and Investment and ROS of FLC Faros Construction, continued to trade at floor prices after FLC was fined for violating information disclosure laws.

The VN30 basket, comprising the 30 largest capped stocks, saw 24 tickers in the green, led by FPT of tech giant FPT Corporation with a 6.9 percent gain to a new peak.

The ticker has been on the upward trend since January 25, and has gained 24 percent since.

BVH of insurance firm Baoviet rose 5 percent to a near four-month high, and VNM of dairy giant Vinamilk rallied 2.9 percent after hitting a near two-year low in the last session.

Other winners included TPB of private lender TPBank, up 2.2 percent, and PNJ of Phu Nhuan Jewelry, up 2.1 percent.

PNJ is set to see its 2022 revenues rise 32 percent to VND25.8 trillion, and profits top 1.32 trillion, up 28.2 percent.

Four blue chip tickers fell, with PDR of Phat Dat Real Estate Development and MSN of conglomerate Masan Group both losing 1.1 percent.

VCB of largest state-owned lender Vietcombank closed 0.6 percent lower, and HPG of steelmaker Hoa Phat dipped 0.1 percent.

Foreign investors turned net buyers after three consecutive selling sessions to the tune of VND22.03 billion, focusing on FTS of FPT Securities and DGC of Duc Giang Chemicals Group.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 1.4 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 1.17 percent.

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