VN-Index extends bullish streak to fourth consecutive session

By Nhat Huynh, Van Khe

Fri, May 27, 2022 | 6:02 pm GMT+7

Foreign investors reversed to a net buying of $6.2 million on the Ho Chi Minh City Stock Exchange on May 27, 2022. Photo by The Investor/Gia Huy.

Vietnam’s benchmark VN-Index extended its uptrend to the fourth consecutive session, rising 1.33% to close at 1285.45 points on Friday.

The weekend trading session recorded a significant divergence in the large-cap stocks. However, with the green dominating the market, VN-Index quickly reverted above the 1,270-point threshold as soon as it opened.

The momentum was expanded in the afternoon owing to the rallies of all stocks in the VN30 basket.

The VN30 basket, comprised of 30 largest stocks by market cap and liquidity on the Ho Chi Minh Stock Exchange (HoSE), saw 29 gainers. This was led by PNJ (Phu Nhuan Jewelry) with a margin of 7%, among other gainers like FPT, MWG, ACB, and KDH; while STB (Sacombank) was the only loser.

VN30-Index closed the session at 1,335.68, up 26.18 points. Liquidity reached VND6,143 billion ($265 million), accounting for 38% of HoSE liquidity.

Small and medium stocks also performed well, with VNSmallCap and VNMidcap up 0.82% and 1.32%, respectively.

VN-Index closed Friday at 1,285.45, up 16.88 points, with 308 gaining (15 stocks hit the price ceiling) and 129 losing.

HNX-Index fell by 2.12 points (0.68%) to 311.17, while UpCoM-Index rose by 0.34 points (0.36%) to 95.29.

On the three exchanges, 642 stocks were gainers and 340 losers, with total liquidity reaching VND18,630 billion ($803.5 million), up 15% from Thursday’s session.

The market's momentum was boosted by the dominance of green in various sectors like banking, securities, real estate, fisheries, and logistics. Especially, steel performed positively with HSG (Hoa Sen Group) reaching the ceiling price and the remaining stocks finishing the day above the reference mark.

Meanwhile, the FLC group experienced a downturn in the three restricted stocks, namely FLC, ROS, and HAL; while the remaining stocks climbed significantly after the loss in Thursday's session.

Foreign investors reversed to a net buying of VND144 billion ($6.2 million) on HoSE, focusing on VNM (Vinamilk), VHM (Vinhomes), and the FUEVFVND fund.

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