VN-Index moves sideways with plunging trade value

The index started off with a 19-point plunge and gradually climbed to close with a 0.03-point fall. VN-Index closed the week with four sessions in the red.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell 26 percent to VND22.87 trillion ($1 billion), lowest in 10 weeks, as investors chose to observe the market after deep plunges.

The VN30 basket, comprising the 30 largest capped stocks, saw 14 tickers in the green, led by POW of electricity producer Petrovietnam Power Corporation with a 4.7 percent gain after four sessions falling.

STB of Ho Chi Minh City-based lender Sacombank rose 2 percent to a new peak.

VNM of dairy giant Vinamilk rose 1.9 percent to a 10-day high.

VCB of state-owned lender Vietcombank closed 1.8 percent higher in its third session in the green. The ticker is now at a six-month high.

Other gainers included VRE of retail real estate arm Vincom Retail, up 1.8 percent, and PLX of fuel distributor Petrolimex, up 1.5 percent.

Twelve blue chip stocks fell, with NVL of real estate developer Novaland Group dropping 1.8 percent to a seven-week low.

TCB of the largest private lender Techcombank lost 1.5 percent.

Foreign investors were net buyers to the tune of VND770 billion with focus on STB and VNM.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 1.31 percent while the UPCoM-Index for the Unlisted Public Companies Market fell 0.4 percent.