Vietnam’s benchmark index gains for fifth straight session

By Huong Dung
Wed, June 7, 2023 | 5:19 pm GMT+7

The VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), went up 1.23 points, or 0.11%, to 1,109.54 on Wednesday, marking its streak of five gaining sessions.

The liquidity on the HoSE significantly improved with more than 1 billion shares traded for over VND18 trillion ($766.4 million), an increase of VND2.4 trillion from the previous session. The major bourse saw 241 gainers and 134 losers.

The VN30 index, which tracks the performance of 30 largest-cap stocks, rose 3.36 points to 1,105.68.

The real estate group became the main support for the VN-Index gain as almost all tickers closed in green. Notably, NVL of Novaland and PDR of Phat Dat Real Estate Development Corporation hit their ceiling prices, with matching value reaching VND750 billion ($31.9 million) and VND350 billion ($14.9 million), respectively.

The VN-Index gained 1.23 points to 1,109.54 on June 7, 2023. Photo courtesy of VietnamFinance.

The VN-Index gained 1.23 points to 1,109.54 on June 7, 2023. Photo courtesy of VietnamFinance.

Small caps like QCG of Quoc Cuong Gia Lai Group, ITA of Tan Tao Investment and Industry Corporation, LDG of LDG Investment, and DXS of Dat Xanh Real Estate Services JSC all increased over 4%.

Steel stocks also showed good performance. HPG of giant Hoa Phat rose 3.9% to VND22,600 ($0.96) - the highest price in the past nine months. It also led the market in trading value with more than VND1.24 trillion ($52.8 million). POM of Pomina Steel hit its ceiling price for three consecutive sessions.

Banking and securities groups saw a divergence while energy, aviation and retail stocks were in red.

Foreign investors were net sellers on the HoSE to the tune of more than VND163 billion ($6.94 million). They mainly net sold VNM of Vinamilk, ST8 of Sieu Thanh Corp., and HCM of Ho Chi Minh City Securities; while net purchasing VHM of Vinhomes, SSI of Saigon Securities, and VND of VNDirect Securities.

The HNX-Index on the Hanoi bourse rose 1.61 points to 230.33, while the UpCOM-Index on the unlisted public company market expanded 0.13 points to 84.56.

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