Tuesday , December 12 2023

VN-Index hits new record

Vietnam’s benchmark VN-Index rose 0.4 percent Thursday to a new peak of 1,528.57 points, boosted by three Vingroup stocks.

The index rose six points after mostly staying in the green throughout the day. This was its fourth session in the green in the past five sessions.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, rose 7 percent to VND35.39 trillion ($1.56 billion), the highest of nine sessions.

The VN30 basket, comprising the 30 largest capped stocks, saw 12 tickers in the green, with VRE of retail real estate arm Vincom Retail hitting a ceiling increase of 6.9 percent for the second session in a row.

The ticker is now at a nine-month high.

VIC of biggest private conglomerate Vingroup rose 4.5 percent as its automaker VinFast launched three new electric cars at an exhibition in the U.S., pledging to stop making gas-powered cars by the end of this year.

Another Vingroup subsidiary, Vinhomes, saw its ticker VHM rising 1.5 percent to a two-week high.

Several banking stocks gained, with BID of state-owned lender BIDV rising 2.6 percent to a seven-month high and VCB of state-owned lender Vietcombank gaining 1.4 percent.

Fifteen blue chip tickers fell, led by MSN of conglomerate Masan Group with a 4.5 percent drop in its fifth consecutive losing session.

CTG of state-owned lender VietinBank fell 2.2 percent, and SAB of brewer Sabeco lost 1.7 percent.

Foreign investors were net sellers for the second session to the tune of VND270 billion with focus on MSN and VNM of dairy giant Vinamilk.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.94 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 0.11 percent.

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