VN-Index shoots up after plunge

The index started off in the green and shot up in the afternoon to close 20 points higher after falling 21 points Thursday.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell 44 percent to VND25.44 trillion ($1.11 billion).

The VN30 basket, comprising the 30 largest capped stocks, saw 25 tickers in the green, led by HDB of HDBank and TPB of private TPBank, both with a 6.9 percent rise.

VPB of private lender VPBank hit a one-week high with a 5.7 percent gain.

TCB of the largest private lender Techcombank rose 3.3 percent from a seven-month low Thursday.

Other gainers included MBB of lender MB and NVL of real estate developer Novaland Group.

Three blue chip tickers fell, with POW of electricity producer Petrovietnam Power Corporation falling 6.8 percent from its peak.

Foreign investors were net buyers to the tune of VND18 billion, with strongest pressure on CEO of real estate developer CEO Group and HPG of steelmaker Hoa Phat Group.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.68 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 0.61 percent.