Thursday , September 29 2022

VN-Index climbs to near new peak


Vietnam’s benchmark VN-Index rose 0.54 percent to 1,524.7 points Monday, inches away from a new peak, with several blue chips signaling signs of strong recovery from the January-end slump.

The index stayed in the green throughout the day and surpassed the January-6 peak at some time in the morning before dropping to close eight points lower.

VN-Index is now nearly four points away from scaling to a new height after recording two major drops in January and March.

Trading on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, remained at around VND26.7 trillion ($1.17 billion).

The VN30 basket, comprising the 30 largest capped stocks, saw 17 tickers gaining, led by GVR of Vietnam Rubber Group with a 5.6 percent rise to the highest in nearly a month.

The ticker has risen 21 percent from fall in January.

SSI of leading brokerage SSI Securities Corporation hit the highest in three weeks with a 4.9 percent rise.

NVL of real estate developer Novaland Group rose to a three-month high by climbing up 4.7 percent.

Other gainers included GAS of state-owned Petrovietnam Gas and MSN of conglomerate Masan Group, up 2.5 percent and 2.4 percent respectively.

Ten blue chips fell, with FPT of IT giant FPT Corporation dipping 1.5 percent after a five-session gaining streak.

Other losers included KDH of real estate firm Khang Dien House and TCB of the largest private lender Techcombank, down 1.5 percent and 1.3 percent respectively.

Foreign investors ended a chain of five net buying sessions with a net sale of VND4.1 billion, mainly selling HPG of steelmaker Hoa Phat Group and NLG of real estate developer Nam Long Investment Corp.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, gained 1.01 percent while the UPCoM-Index for the Unlisted Public Companies Market rose 0.41 percent.

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