VN-Index nears 1,200 points before holiday begins

By Dat Nguyen February 7, 2024 | 02:03 am PT

An investor looks at stock prices on a screen at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran

Vietnam's benchmark VN-Index rose 0.85% to 1,198.53 points Wednesday ahead of the seven-day Lunar New Year holiday, driven by banking stocks.

The index closed 10.05 points higher after gaining 2.42 points in the previous session.

Trading on the Ho Chi Minh Stock Exchange increased by 6% to VND15.51 trillion ($635 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 26 tickers gained.

TCB of private lender Techcombank led with a 4.6% rise, followed by CTG of state-owned lender VietinBank, up 3.2%.

HDB of HDBank rose 2.4% and TPB of private TPBank closed 2.2% higher.

Only one ticker fell. MWG of electronics retail chain Mobile World closed 0.9% lower.

Foreign investors were net sellers to the tune of VND8 billion, mainly selling NVL of property developer Novaland Group and VNM of dairy giant Vinamilk.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.18%, while the UPCoM-Index for the Unlisted Public Companies Market went up 0.53%.