VN-Index gains for third consecutive session on non pre-funding solution, Fed rate cut

Vietnam's benchmark VN-Index rose 6.37 points, or 0.5%, to 1,271.27 on Thursday thanks to improved investor sentiments following positive information.

Positive news featured the application of non pre-funding solution for foreign investors from November 2 and a 0.5 percentage point rate cut by the U.S Federal Reserve (Fed).

The trading value on the Ho Chi Minh Stock Exchange (HoSE), represented by the VN-Index, decreased by 23% to VND14.28 trillion ($580 million). There were 240 gainers and 122 losers on the major bourse.

The VN-30 basket, comprising 30 largest capped stocks, surged 7.47 points to 1,318.41, with 22 tickers rising. Among them, SSB of SeABank hit its ceiling price with a 6.7% rise, followed by VRE of retail real estate arm Vincom Retail, up 1.6%.

TCB of private lender Techcombank gained 0.9% and CTG of state-owned lender VietinBank closed 0.8% higher.

POW of electricity producer Petrovietnam Power Corporation was the only loser in the VN30 basket, down 1.6%.

Among stock groups, real estate was the best performer. KBC of Kinh Bac City Development Holding Corporation increased by 5.9%, PDR of Phat Dat Real Estate Development Corporation 3%, and HDG of Ha Do Group 2.7%.

This group also saw stocks with liquidity of hundreds of billions of VND (VND100 billion = $4.07 million), such as DXG of Dat Xanh Group, DIG of DIC Corp, CEO of CEO Group, and VHM of Vinhomes.

Foreign investors were net buyers on the HoSE for the fourth consecutive session to the tune of VND470 billion ($19.12 million). They mainly bought SSI of brokerage SSI Securities and HCM of Ho Chi Minh City Securities.

The HNX-Index on the Hanoi Stock Exchange, home to mid and small caps, rose 0.35%, while the UPCoM-Index on the Unlisted Public Companies Market went up 0.18%.