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VN-Index skyrockets to two-month high

Created 12 October 2021
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Vietnam’s benchmark VN-Index surged 1.56 percent to 1,394.09 points Monday, highest in over two months, led by banking tickers.

VN-Index skyrockets to two-month high

The index was on a steady climb throughout the day and closed 21 points higher in its sixth gaining session in a row.

VN-Index has shot up 59 points in the last six sessions and is 1.9 percent shy from its previous peak in early July.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, rose nearly 27 percent to VND22.79 trillion ($1 billion), highest in the last five sessions.

The VN30 basket, comprising the 30 largest capped stocks, saw 28 tickers in the green, led by three banks.

CTG of state-owned lender VietinBank rose 5.3 percent to a two-week high in its third consecutive gaining session.

Trading volume of the ticker shot up 80 percent from the average of the last 10 sessions, showing rising demand.

HDB of HDBank also rose 5.3 percent to a three-week high.

TCB of largest private lender Techcombank gained 4.5 percent to a seven-week high.

Other gainers included VRE of retail real estate arm Vincom Retail, up 4.5 percent, and MBB of lender MB, up 4 percent.

Two blue chip tickers fell: NVL of real estate developer Novaland Group lost 0.5 percent, and POW of electricity producer Petrovietnam Power Corporation ended 0.4 percent lower.

Foreign investors ended a chain of three net selling sessions with a net purchase of VND424 billion, focusing on MML of Masan MeatLife, and SBT of sugar producer Thanh Thanh Cong – Bien Hoa JSC.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.65 percent, while the UPCoM-Index for the Unlisted Public Companies Market gained 0.51 percent.

 

Source: VNE

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