VN Index starts new week in the green

27-May-2020 Intellasia | Vnexpress | 6:02 AM Print This Post

The VN Index rose 0.74 percent to 859.04 points Monday, with retailers posting some of the strongest gains of the session.

The Ho Chi Minh Stock Exchange (HoSE), on which the VN Index is based, saw 218 tickers gain and 145 lose.

Total transaction volume rose 10 percent over the previous session, reaching VND5.87 trillion ($252.24 million), staying far above last month’s average liquidity of VND4.2 trillion ($180.48 million) per session.

The VN30-Index for the market’s 30 largest caps added 0.51 percent, with 17 rising and 8 falling. Gains of most blue chips this session were relatively more modest compared to last week, with only one ticker gaining more than 2 percent.

VNM of dairy giant Vinamilk topped gains with 2.8 percent, followed by SSI of brokerage Saigon Securities Inc., with 1.7 percent.

Next were stocks of three retailers. VRE of Vincom Retail, the mall operator subsidiary of Vietnam’s largest private conglomerate Vingroup, added 1.6 percent, while MWG of electronics retailer Mobile World and PNJ of jewellery retailer Phu Nhuan Jewellery both added 1.3 percent.

Of Vietnam’s three largest state-owned banks by assets, CTG of VietinBank added 1.1 percent, BID of BIDV 0.9 percent, and VCB of Vietcombank, 0.1 percent.

VIC of Vingroup, the largest capped stock on the market, rose 0.7 percent this session, while VHM of its subsidiary real estate developer Vinhomes gained 0.4 percent.

Other gainers included POW of electricity firm PetroVietnam Power, up 1 percent, HDB of private HDBank, up 0.8 percent, and BVH of insurance giant Bao Viet, up 0.7 percent.

In the opposite direction, ROS of real estate developer FLC Faros led losses with 1.4 percent. As the smallest capped stock on the VN30, this ticker usually sees higher percentage changes each session.

VJC of budget carrier VietJet Air dropped 0.8 percent, SBT of agricultural firm TTC-Sugar slumped 0.7 percent, and VPB of private VPBank lost 0.6 percent.

In oil and gas, GAS of energy giant PetroVietnam Gas and PLX of national petroleum distributor Petrolimex edged down 0.3 percent and 0.1 percent respectively.

Meanwhile, the HNX-Index for stocks on Hanoi Stock Exchange, home to mid and small caps, rose 0.5 percent this session, while the UPCoM-Index for stocks on Unlisted Public Companies Market fell 0.13 percent.

Foreign investors turned net sellers on all three bourses to the tune of VND130 billion ($5.59 million). The selling pressure was mostly on HPG of leading steelmaker Hoa Phat Group, which added 0.2 percent, and the E1VFVN30, an exchange-traded-fund which imitates the composition, and in turn the performance of the VN30.

According to the latest report by securities firm Vietcombank Securities (VCBS), the VN Index has successfully passed the 850-point psychological threshold, thanks to strong cash flow into the equity market, as well as positive sentiment resulting from Vietnam’s effective management of the Covid-19 situation.

However, with many major corporations starting to hold their annual general meetings, it is likely that the VN Index could see strong fluctuations in the coming sessions, the report said.

https://e.vnexpress.net/news/business/economy/vn-index-starts-new-week-in-the-green-4104873.html

 


Category: Stocks, Vietnam

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