Intellasia East Asia News – VN Index slightly rebounds in the last session of 3rd quarter

Shares closed higher on Thursday, but the market’s trading value hit a 2-month low and foreign investors net sold nearly VND180 billion (US$7.86 million) on the southern bourse.

The market benchmark VN Index on the Ho Chi Minh Stock Exchange (HoSE) gained 2.85 points, or 0.21 per cent, to 1,342.06 points.

The market’s breadth remained positive, while the liquidity on HoSE was lower. Of which the trading value on the southern market dropped 13.2 per cent to VND13.2 trillion, which was the lowest in two months.

The benchmark was backed by real estate sector and other pillar stocks. The VN30-Index, tracking 30 biggest stocks on HoSE, rose 3.24 points, or 0.22 per cent, to 1,453.76 points. Thirteen of the VN30 basket climbed yesterday, while eleven declined and six ended flat.

Real estate stocks dominated the market’s gain. Of which Vingroup (VIC) led the trend with an increase of 1.5 per cent. It was followed by Vincome Retail (VRE), up 2.83 per cent.

Other stocks supporting the market were Masan Group (MSN), Duc Giang Chemicals Group (DGC) and Phu Nhuan Jewellery JSC (PNJ). These stocks all posted gains of more than 1 per cent.

Energy stocks still witnessed good performance with PetroVietnam Gas (PVGas, GAS) up 0.21 per cent, and PetroVietnam Drilling & Well Services Corporation (PVD) up 2.7 per cent.

However, lingering selling pressure still cast a shadow on the market sentiment, with bank stocks losing the most.

Data compiled by vietstock.vn showed that Vietcombank (VCB) posted the biggest loss yesterday, down 1.32 per cent. BIDV (BID) and Vietnam International Commercial Joint Stock Bank (VIB) also fell more than 1 per cent.

Yesterday was the last trading session of the third quarter, which was also the time for many investment funds to close net asset value (NAV).

But unlike expectations from analysts, it went quietly at the end of the session and the trading volume in the market was moderate.

On the Hanoi Stock Exchange (HNX), the HNX-Index finished yesterday at 357.33 points, down 3.04 points, or 0.86 per cent.

During the session, investors poured more than VND2.5 trillion into the market, equivalent to a trading volume of nearly 115.3 million shares.

On the other hand, foreign investors were net sellers on the market. Of which, they net sold a value of VND179.82 billion on HoSE, while net bought a value of VND11.92 billion on HNX.

bizhub.vn/markets/vn-index-slightly-rebounds-in-the-last-session-of-3rd-quarter_327751.html

 

Category: Stocks, Vietnam


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