Wednesday , February 28 2024

VN-Index goes sideways near key threshold

Vietnam’s benchmark VN-Index rose 0.11 percent to 1492.15 points Thursday, with trading value falling to an 11-session low.

The index mostly stayed in the green throughout the day and closed 1.64 points higher after slipping 7 points in Wednesday’s session.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, dropped 30 percent to VND21.8 trillion ($955 million), the lowest since March 17.

The VN-30 basket, comprising the 30 largest capped stocks, saw 19 tickers gaining, with VNM of dairy giant Vinamilk rising 6.2 percent to its 5-week high.

The ticker hit its near two-year low Monday, but has been closing in the green for three sessions in a row, gaining over 9 percent.

Its trading volume hit the all-time second highest of 9.65 million shares, tripling its daily average.

VRE of Vingroup’s mall operator arm, Vincom Retail, rose 2.9 percent, and PNJ of Phu Nhuan Jewelry gained 2 percent to its near all-time high.

Eight out of ten banking stocks also closed in the green Thursday, led by ACB of Asia Commercial Bank, up 1.4 percent, and CTG of VietinBank, up 1.2 percent.

Nine blue chip tickers fell, with STB of private lender Sacombank losing 1.7 percent.

GAS of Petrovietnam Gas dropped 1.6 percent, and PDR of real estate developer Phat Dat closed 1.3 percent lower.

Foreign investors were net buyers to the tune of VND338 billion, focusing on VNM, VRE and DGC of Duc Giang Chemicals Group.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.35 percent while the UPCoM-Index for the Unlisted Public Companies Market dipped 0.13 percent.

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