Vietnam major bourse trading value hits nearly $1 billion

The trading value on the Ho Chi Minh Stock Exchange (HoSE) reached VND22.4 trillion ($952 million) on Friday, up 70% from the previous session.

The major bourse saw two stocks with transaction value of over VND1 trillion, namely VND of VNDirect Securities VND1.38 trillion ($58.65 million) and STB VND1.29 trillion ($54.8 million).

Other tickers like SSI of Saigon Securities, NVL of real estate developer Novaland, HPG of steel giant Hoa Phat, and VPB of VPBank also recorded much higher trading value than the previous sessions.

The State Bank of Vietnam's (SBV) announcement of the second ceiling interest rate cut in a month, effective from next Monday, to spur the country’s growth had positive influence on the market in the early afternoon.

The VN-Index, which represents the HoSE, approached 1,130 points at a time - the highest territory since the year beginning. However, invetors took advantage of this rally to take profits, making the benchmark index reverse down after at-the-close (ATC).

The VN-Index went down 1.75 points, or 0.16%, to 1,115.22, marking its streak of three consecutive losing sessions. There were 170 gainers and 258 losers on Vietnam’s main exchange. Red covered many stock groups such as oil and gas, fertilizer, and construction. Meanwhile, the securities group rallied on investors' expectation of a new uptrend thanks to positive macro information.

VIC of Vingroup had the most negative impact on the VN-Index, while two banking blue chips VCB of Vietcombank and STB of Sacombank helped the market avoid a deep drop due to selling pressure from domestic investors.

Foreign investors were net buyers on the HoSE for the sixth consecutive session to the tune of nearly VND466 billion ($19.8 million). They mainly net purchased HPG of steel maker Hoa Phat, VND and STB.

The HNX-Index on the Hanoi bourse fell 1.09 points to 228.44, while the UpCOM-Index on the unlisted public company market inched up 0.07 points to 84.62.