Monday , July 15 2024

Bank stocks lead VN-Index recovery

Vietnam’s benchmark VN-Index rose 1.27 percent to 1,218.10 points Tuesday, continuing its recovery with rising trade, supported by bank stocks.

The index closed 15 points higher after gaining 17 points on Monday.

Trading on the Ho Chi Minh Stock Exchange increased by 17 percent to VND14.43 trillion ($621 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 23 tickers gain, led by five bank tickers.

BID of state-owned lender BIDV rose 6 percent to the highest in two weeks.

STB of Ho Chi Minh City-based lender Sacombank gained 4.9 percent to a four-week high.

CTG of state-owned lender VietinBank rose 4.3 percent, HDB of HDBank rose 3.9 percent, and VPB of private lender VPBank gained 3.8 percent.

Five blue chips dropped, with NVL of real estate developer Novaland Group losing 4.7 percent.

HPG of steelmaker Hoa Phat Group fell 1.7 percent and SSI of leading brokerage SSI Securities Corporation lost 1.3 percent.

Foreign investors were net buyers to the tune of VND155 billion, mainly buying CG and MSN of conglomerate Masan Group.

The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was up 1.23 percent while the UPCoM-Index at the Unlisted Public Companies Market rose 0.99 percent.

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