VN-Index surges to new peak

Vietnam’s benchmark VN-Index surged 1.31 percent to 1,377.77 points Friday, a new peak, with foreign investors’ net buying value highest in 10 weeks.

The index gradually climbed throughout the day to close with a near 18-point gain, the highest of the past five sessions. It has risen nearly 25 percent this year.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, rose 5.4 percent to VND23.7 trillion ($1.03 billion). The bourse saw 249 tickers gain and 138 lose.

Foreign investors turned net buyers on the main bourse to the tune of VND646 billion, the highest since April 9. Strongest buying pressure was seen in PDR of Phat Dat Real Estate Development and HSG of steelmaker Hoa Sen Group.

The VN30 basket, comprising the 30 largest capped stocks, saw 22 tickers in the green, led by TCH of real estate company Hoang Huy Investment Financial Services with 5.9 percent.

It was followed by VCB of state-owned lender Vietcombank, up 4.1 percent to a new peak. The ticker contributed most to VN-Index’s gain this session, pushing it up by 4.4 points.

MSN of conglomerate Masan Group rose 3.4 percent. It is still struggling to return to its previous peak on May 26.

Other strong gainers include VHM of real estate giant Vinhomes, up 3.2 percent, and PNJ of Phu Nhuan Jewelry, up 2.6 percent.

On the losing side BVH of insurance company Bao Viet Holdings led with a 1.6 percent drop, followed by GAS of state-owned Petrovietnam Gas, down 1.3 percent.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.52 percent while the UPCoM-Index for the Unlisted Public Companies Market added 0.75 percent.

This article was originally published in Vnexpress

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