VN-Index hits 12-day high
VN-Index hits 12-day high
Vietnam’s benchmark VN-Index started off the week with a 0.25 percent gain to 1,184.56 points, the highest since March 3, amid an ongoing foreign investor selling spree.
An investor looks at stock prices on a screen at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
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The index mostly stayed in the green throughout the day and ended with a 3-point gain. This is the third consecutive session it has closed in the 1,180 range.
Foreign investors were net sellers on the Ho Chi Minh Stock Exchange (HoSE) for the 17th session with net selling value surging 72 percent to VND410 billion ($17.8 million).
Selling pressure was strongest on NVL of Novaland Group, ACB of Asia Commercial Bank and HPG of steelmaker Hoa Phat Group.
Trading value on the HoSE rose 3.6 percent to VND15.1 trillion ($655.6 million). The bourse saw 270 stocks gain and 195 lose.
The VN30 basket, comprising the 30 largest capped stocks on the HoSE, saw 14 stocks gain, led by PLX of fuel distributor Petrolimex, up 2.7 percent.
This is PLX’s first gaining session after four consecutive losses. It is now 3.3 percent away from this year’s March 1 peak.
It was followed by MBB of Military Bank, rising 2.3 percent to a new all-time peak of VND28,900.
PNJ of Phu Nhuan Jewelry rose 1.6 percent, its biggest daily gain since Feb. 17. The ticker has been struggling to return to this year’s February peak and is still 3 percent shy.
Other gainers included MSN of conglomerate Masan Group, up 1.4 percent, and MWG of electronics retail chain Mobile World, up 1.2 percent.
The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.47 percent, while the UPCoM-Index for the Unlisted Public Companies Market scored 0.61 percent.
