VN-Index gains after three-session losing streak

Vietnam’s benchmark VN-Index expanded 4.11 points, or 0.39%, to 1,069.46 on Tuesday thanks to the rally of real estate stocks at the close (ATC).

The Ho Chi Minh Stock Exchange (HoSE), represented by the index, saw nearly 698 million shares traded for VND11.6 trillion ($496.7 million), a drop of 23% from the previous session. There were 228 gainers and 138 losers.

The VN30 index, which tracks the performance of 30 largest-cap stocks, went up 4.3 points to 1,081.71.

The property group was the biggest contributor to the VN-Index gain. NVL of Novaland hit its ceiling price of VND14,200 ($0.61) after the government requested that a working group in charge of addressing problems facing the developer’s projects in Dong Nai and Binh Thuan province be established.

The information helped NVL increase strongly at the end of the session with a matching value of nearly VND850 billion ($36.25 million).

Other real estate codes also recorded growth after the gloomy morning. VHM of Vinhomes rose 1.7%, HDG of Ha Do Group 2.88%, CEO of CEO Group 1.6%, DXG of Dat Xanh Group 2.62%, PDR of Phat Dat Real Estate Development Group 2.27%, and NLG of Nam Long Group 0.84%.

The banking stocks also made good performance, with LPB of LienVietPostBank, CTG of VietinBank, VIB of Vietnam International Bank, and TCB of Tecombank all closing in green. Notably, PGB of PGBank enjoyed the maximum increase for the second session after the successful auction of its 120 million shares.

Other groups like industry, energy, materials, and oil and gas also went up.

Foreign investors continued to be net sellers on the HoSE to the tune of over VND570 billion ($24.3 million), up VND260 billion from Monday. They mainly net sold HPG of steel maker Hoa Phat, STB of Sacombank, VND of VNDirect Securities, and VPB of VPBank.

The HNX-Index on the Hanoi bourse inched up 0.34 points to 212.34, while the UpCOM-Index on the unlisted public company market increased 0.82 points to 78.81.