Friday , September 29 2023

VN-Index moves up as trading value spikes

Vietnam’s benchmark VN-Index rose 0.87 percent to 1,476.21 points Monday, with trading value rising double-digit.

The index stayed in the green throughout the day and closed nearly 13 points higher. It has gained in four of the last five sessions.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, rose 12 percent to VND25.9 trillion ($1.13 billion), the highest in five sessions.

The VN30 basket, comprising the 30 largest capped stocks, saw 19 tickers in the green, led by KDH of real estate firm Khang Dien House with a 3.8 percent gain.

GVR of Vietnam Rubber Group rose 2.7 percent in its fifth session in the green.

BID of state-owned lender BIDV gained 2 percent, having gained 8 percent in the past five sessions.

MSN of conglomerate Masan Group went up 1.5 percent as its subsidiary The CrownX raised $350 million from a consortium of investors.

Other gainers included VHM of real estate giant Vinhomes and GAS of state-owned Petrovietnam Gas.

Nine blue chip tickers ended in the red, with TPB of private TPBank losing 2.9 percent and HDB of HDBank dropping 2.1 percent.

Foreign investors were net sellers to the tune of VND45.9 billion, with focus on HPG of steelmaker Hoa Phat Group and GEX of electrical equipment maker Gelex Group.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 1.51 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 0.44 percent.

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