Stocks reach 2-week high

By Dat Nguyen   May 2, 2024 | 12:40 am PT
Stocks reach 2-week high
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 rose 0.57% to 1,216.36 points Thursday, highest since April 15.

The index closed with a 6.8-point gain after increasing 4.6 points last Friday.

Trading on the Ho Chi Minh Stock Exchange, on which the index is based, dropped 7% to VND14.40 trillion ($567 million).

The VN30 basket, comprising the 30 largest capped stocks, saw 19 tickers in the green.

POW of electricity producer Petrovietnam Power Corporation led with a 5.7% surge, followed by SAB of brewer Sabeco, up 4%.

FPT of IT giant FPT Corporation gained 3.3% and BCM of Becamex Investment and Industrial Development closed 3.1% higher.

Nine blue chips fell. STB of Ho Chi Minh City-based lender Sacombank dropped 2.1% and CTG of state-owned lender VietinBank closed with a 1.4% decline.

Foreign investors were net sellers to the tune of VND911 billion, mainly selling BWE of Binh Duong Water – Environment Corp and SSI of leading brokerage SSI Securities Corporation.

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