Stocks recover after four-session plunge

By Dat Nguyen April 9, 2024 | 01:40 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% to 1,262.82 points Tuesday afternoon, bouncing back from a four-day decline.

The index closed 12.5 points higher after losing 4.8 points Monday.

Trading on the Ho Chi Minh Stock Exchange, on which the index is based, dropped 16% to VND20.4 trillion ($817 million).

The VN30 basket, comprising the 30 largest capped stocks, saw 22 tickers went up.

MWG of electronics retail chain Mobile World led with a 5.6% surge, followed by BID of state-owned lender BIDV, up 3.7%.

VRE of retail real estate arm Vincom Retail gained 2.5% and CTG of state-owned lender VietinBank closed 2.2% higher.

Four blue chips fell, including VCB of state-owned lender Vietcombank with a 0.6% decline.

Foreign investors were net buyers to the tune of VND271 billion, mainly buying MWG and SBT of sugar producer Thanh Thanh Cong – Bien Hoa Jsc.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.96% while the UPCoM-Index for the Unlisted Public Companies Market went up 0.05%.