Monday , October 3 2022

Foreign investors end net-selling spree


Vietnam’s benchmark VN-Index rose 0.1 percent to 1,478.74 points Tuesday with foreign investors net buying for the first time after seven sessions.

The index climbed up to 1,485 points in the early afternoon but selling pressure dragged it down quickly to close one point higher.

This was its seventh session in the 1,470 range as the lack of supporting information prevented the index from returning to the 1,500-point peak secured last month.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell marginally to VND28.67 trillion ($1.25 billion).

Foreign investors ended a chain of seven net selling sessions with a net purchase of VND51 billion, with focus on VHM of real estate giant Vinhomes and CTG of state-owned lender VietinBank.

The VN30 basket, comprising the 30 largest capped stocks, saw 12 tickers in the green, led by VHM of real estate giant Vinhomes with a 3 percent rise.

The ticker is now at a four-month high and is 5.9 percent away from its previous peak in August.

MSN of conglomerate Masan Group rose to another new peak with a 2.8 percent gain as trading volume rose 482 percent from the average of the last 10 sessions.

POW of electricity producer Petrovietnam Power Corporation hit another new peak with a 2.5 percent increase, having risen nearly 40 percent this year.

Other gainers included NVL of real estate developer Novaland Group and VRE of retail real estate arm Vincom Retail, both up 1.1 percent.

Fifteen blue chip tickers dropped, with GAS of state-owned Petrovietnam Gas falling 2.8 percent to a two-week low.

TPB of private TPBank dropped 2.5 percent and SSI of leading brokerage SSI Securities Corporation lost 1.9 percent.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.09 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 0.32 percent.

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