Foreign investors turn net buyers after 4-session net selling streak

Foreign investors were net purchasers on the Ho Chi Minh Stock Exchange (HoSE) after four consecutive sessions of net selling to the tune of about VND70 billion ($2.97 million) on Wednesday.

HPG of steel giant Hoa Phat was the most net bought by foreign investors with VND240 billion ($10.18 million).

The VN-Index, which represents the HoSE, gained for the seventh session in a row, earning 4.02 points (0.35%) to close at 1,138.35.

The major bourse saw 201 tickers rising, 51 going flat, and 228 losing. Its trading value increased by nearly 22% from the previous session to VND17.9 trillion ($759.68 million) with 892 million shares changing hands.

Blue chips were the main support for the VN-Index expansion as their VN30 index increased 6.71 points to 1,141.12, with 16 gainers.

The VN30 group posted a total trading value of VND8 trillion ($339.5 million), with NVL of Novaland taking the lead with VND1.1 trillion ($46.68 million). It was followed by HPG, VND of VNDirect Securities, and SSI of Saigon Securities with VND440-800 billion each.

Banking stocks, including BID of BIDV, VCB of Vietcombank, CTG of VietinBank, TCB of Techcombank, VPB of VPBank, and STB of Sacombank, showed positive performance.

Meanwhile, the real estate group was in the red. All three tickers in the Vingroup ecosystem namely VIC of Vingroup, VHM of Vinhomes, and VRE of Vincom Retail dropped. Other losers included KBC of Kinhbac City Development Holding Corp 2.31%, DIG of DIG Corp.1.97%, CII of Ho Chi Minh City Infrastructure Investment JSC 2.65%, and HHV of Deo Ca Traffic Infrastructure Investment JSC 1.31%. Notably, LGC of CII Bridges & Roads Investment JSC continued to hit its floor price.

The HNX-Index on the Hanoi bourse inched down 0.57 points to 230.25, while the UpCOM-Index on the unlisted public company market gained 0.34 points to 85.99.

On the Hanoi bourse, three stocks in the APEC family including APS of Asia-Pacific Securities, API of Asia-Pacific Investment JSC, and IDJ of IDJ Vietnam Investment JSC hit their floor prices for the third consecutive session after police arrested their leaders on charges of stock market manipulation.