Wednesday , February 8 2023

VN-Index hits five-week high


Vietnam’s benchmark VN-Index rose 1.06 percent to 1,507.99 points Thursday, highest since January 12, with surging investment in blue chip stocks.

The index stayed in the green throughout the day and shot up in the last minutes to close nearly 16 points higher.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell 2 percent to VND19.46 trillion ($853.88 million).

The VN30 basket, comprising the 30 largest capped stocks, saw 29 tickers in the green, led by GAS of state-owned Petrovietnam Gas with a 3.7 percent gain.

The ticker is now at a three-month high as crude oil prices continue to increase.

Other energy stocks that rose included POW of electricity producer Petrovietnam Power Corporation, up 2.2 percent, and PLX of fuel distributor Petrolimex, up 1.7 percent.

MSN of conglomerate Masan Group went up 3.1 percent to the highest in over six weeks.

KDH of real estate firm Khang Dien House and PDR of Phat Dat Real Estate Development both gained 2 percent.

BVH of insurance company Bao Viet Holdings was the only blue chip ticker that bucked the trend as it fell 0.9 percent.

Foreign investors were net buyers to the tune of VND760 billion with focus on KBC of industrial real estate developer Kinh Bac City.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.26 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 0.55 percent.

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