VN-Index ends 8-session gaining streak

Vietnam’s benchmark VN-Index inched down 1.11 points, or 0.09%, to close at 1,172.98 on Wednesday, ending its streak of eight consecutive gaining sessions.

This was the second longest gaining streak of the major index since the beginning of the year, helping it earn nearly 50 more points.

The Ho Chi Minh Stock Exchange (HoSE), represented by the index, saw up to 276 tickers losing and 185 gaining, with over 896 million shares changing hands for nearly VND17.7 trillion ($748.65 million), an increase of VND900 billion ($38 million) from the previous session.

Cash flows mainly ran into the real estate group, with three tickers among those leading the market in terms of matched value. They were DIG of DIG Corp, with a trading value of more than VND920 billion ($38.9 million), NVL of Novaland VND515 billion ($21.8 million), and DXG of Dat Xanh Group VND488 billion ($20.64 million).

Blue chips were the main force dragging down the VN-Index as their VN30 index went down 1.63 points to 1,165.19, with up to 18 losers. VIC of Vingroup had the most negative impact on the benchmark index when reversing from an increase of 0.3% to a decrease of 1%. It was followed by BID of BIDV bank, VPB of VPBank, and GAS of PV Gas.

Meanwhile, VCB of Vietcombank gained 2.1%, becoming a major support for the VN-Index. VCB's market capitalization surpassed VND500 trillion ($21.15 billion) after the session, larger than the combined figure of its two runners-up, VHM and BID.

The red overwhelmed property codes, with NVL losing 2.33%, PDR of Phat Dat Real Estate Development Corp. 2.34%, DXG 3.98%, DXS of Dat Xanh Services 6.05%, CRE of Century Land 2.21%, and KHG of Khai Hoan Group 4.53%.

SZC of SONADEZI Chau Duc Shareholding Company and CEO of CEO Group became the silver liners in the group’s gloomy picture, hitting their ceiling prices.

Banking, securities, manufacturing and retail stocks saw a divergence while aviation codes closed in the green.

Foreign investors were net buyers on the HoSE for the third straight session to the tune of over VND220 billion ($9.3 million). They mainly net purchased VHM of real estate developer Vinhomes and VNM of Vinamilk.

The HNX-Index on the Hanoi bourse increased 0.51 points to 231.47, while the UpCOM-Index on the unlisted public company market gained 0.11 points to 87.13.