VN-Index gains for third straight session on property stock rally

Wednesday's rally of real estate stocks in Vietnam helped its benchmark VN-Index increase 4.49 points, or 0.43%, to 1,058.26, marking a streak of three consecutive gaining sessions.

Liquidity on the Ho Chi Minh Stock Exchange, Vietnam's main bourse, hit the highest level in half a month with more than 717 million shares changing hands for nearly VND11.2 trillion ($477.1 million), a rise of almost VND2 trillion from the previous session.

The VN30 index, which tracks the performance of 30 largest-cap codes, went up 5.32 points to 1,054.99, with 185 tickers closing in green.

Thanks to positive information on measures taken by the government to remove difficulties for property developers, most tickers in the sector expanded by 1-4%, except VIC of Vingroup and AGG of An Gia Group, which remained unchanged from the previous session.

Blue chips NVL of Novaland and PDR of Phat Dat Real Estate Development Corporation were among the most active contributors to the VN-Index, gaining 2.7% and 2.2%, respectively.

Aviation stocks also showed good performance, with HVN of national flag carrier Vietnam Airlines up 1.2%, VJC of low-cost airline Vietjet 1.5%, and ACV of the Airports Corporation of Vietnam 5.5%.

The main groups of banking, securities, steel, and construction saw a strong divergence when the numbers of gainers and losers were nearly the same.

Among banking codes, SHB of Saigon-Hanoi Bank, CTG of VietinBank, STB of Sacombank, and MBB of MBBank were among the top 10 stocks contributing the most to the market, while VCB of Vietcombank, BID of BIDV bank, and SSB of SeABank were three of the most negative influencers.

Foreign investors were net sellers on the main bourse for the fifth consecutive session to the tune of about VND30 billion ($1.28 million). CTG was net sold most with a total value of over VND113 billion ($4.8 million), while STB was net bought most with over VND63 billion ($2.68 million).

The HNX-Index on the Hanoi bourse rose 1.94 points to 213.89, while the UPCoM-Index on the unlisted public company market increased 0.5 points to 78.84.