Wednesday , February 28 2024

VN-Index posts marginal recovery

Vietnam’s benchmark VN-Index continued its recovery with a 0.42 percent gain Wednesday as most blue chips closed in the green.

The index fluctuated in the 1,450 range throughout the day and closed six points higher after shooting up 33 points Tuesday, driven by a record-high number of new retail investors in November.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, marginally dropped to VND21.6 trillion ($941 million).

The VN30 basket, comprising the 30 largest capped stocks, saw 19 tickers in the green, led by TPB of private TPBank with a ceiling increase of 6.9 percent.

The ticker is now at a new peak, having risen nearly 91 percent this year.

It was followed by PNJ of Phu Nhuan Jewelry with a 3 percent rise after hitting a 10-week low Monday.

STB of Ho Chi Minh City-based lender Sacombank gained 2 percent but with trading volume plunging by half from the average of the last 10 sessions.

Other gainers included GAS of state-owned Petrovietnam Gas, up 1.8 percent, and POW of electricity producer Petrovietnam Power Corporation, up 1.7 percent.

Ten blue chip tickers ended in the red, with VJC of budget airline Vietjet losing 1.3 percent, and BVH of insurance company Bao Viet Holdings falling 1.2 percent.

Foreign investors were net sellers to the tune of VND117 billion, with focus on TCH of real estate company Hoang Huy Investment Financial Services and HPG of steelmaker Hoa Phat Group.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, gained 0.75 percent while the UPCoM-Index for the Unlisted Public Companies Market rose 0.4 percent.

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