VN-Index ends losing streak on blue chips gains

The index stayed mostly in the green throughout the day and ended 21.95 points higher at 1,477.2 points, marking a sharp rebound from a nearly 68 point-plunge in three previous sessions.

Trading on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, gained by 3.7 percent to VND22.06 trillion ($964 million).

The VN30 basket, comprising the 30 largest capped stocks, saw 27 tickers in the green, with BVH of insurance company Bao Viet Holdings bouncing back 5.5 percent from its ten-session low.

TPB of private lender TPBank posted a 5.1 percent gain, its highest jump in 11 weeks, and FPT of IT giant FPT Corporation scaled another peak with a 4.8 percent rise.

The ticker has gained by 35 percent since falling at the end of January.

Other gainers included GVR of Vietnam Rubber Group, up 4.5 percent, PNJ of Phu Nhuan Jewelry, up 3.2 percent, and VRE of Vingroup’s retail property arm Vincom Retail, up 2.4 percent.

Three blue chip tickers stayed unchanged, including VCB of largest state-owned lender Vietcombank, and two largest private players, TCB of Techcombank and VPB of VPBank.

Foreign investors turned net buyers after three selling sessions to the tune of VND1.42 trillion, focusing on MWG of Mobile World and GEX of Gelex Group.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 1.53 percent while the UPCoM-Index for the Unlisted Public Companies Market dropped 0.68 percent.