Vingroup, banking stocks help VN-Index surge 15 points

Vietnam’s benchmark VN-Index soared 15.23 points, or 1.26%, to 1,222.9 on Monday, thanks to the rally of Vingroup and banking stocks.

The Ho Chi Minh Stock Exchange (HoSE), represented by the index, saw its trading value expand by over 10% from the previous session last Friday to VND24.1 trillion ($1.02 billion), with 1.2 billion shares changing hands. There were up to 304 gainers and 172 losers on the major bourse.

Blue chips were the main support for the VN-Index gain as their VN30 index surged 18.36 points to 1,230.81, with up to 24 tickers rising and only six declining.

The three stocks in the Vingroup ecosystem made the biggest contributions to the market as VIC of Vingroup and VHM of its real estate subsidiary Vinhomes hit their ceiling prices following information about their Q2 and H1 profits and the listing of VinFast, Vingroup’s electric vehicle maker, on the US stock market in August. VRE of Vincom Retail increased 2.95%.

In addition to the Vingroup stocks, a number of banking, aviation, insurance and real estate tickers in the VN30 basket also closed in the green such as VJC of low-cost carrier Vietjet, ACB of Asia Commercial Bank, PLX of Petrolimex, BVH of insurer Bao Viet, NVL of Novalnad, GAS of PV Gas, TCB of Techcombank, FPT of FPT Corp., MSN of Masan Group, and BID of BIDV bank.

On the other side, VCB of Vietcombank, MWG of Mobile World Investment Corp, PDR of Phat Dat Real Estate Development Corp., HPG of steel giant Hoa Phat, and SSI of Saigon Securities were in the red.

Among the mid caps, real estate, construction and food stocks were gainers.

Foreign investors were net buyers on the HoSE for the fourth consecutive session to the tune of VND94 billion ($3.97 million). They mainly net purchased MSB of Maritime Bank, SHS of Saigon-Hanoi Securities, and HSG of steel maker Hoa Sen Group.

The HNX-Index on the Hanoi Stock Exchange rose 0.85% to 239.55 points, while the UPCoM-Index on the Unlisted Public Companies Market gained 0.49% to 89.35.