VN-Index maintains uptrend

By Nhat Huynh, Van Khe

Mon, May 30, 2022 | 5:53 pm GMT+7

Foreign investors remain net buyers to the tone of more than $72.3 million on Ho Chi Minh City Stock Exchange on May 27, 2022. Photo by The Investor/Gia Huy.

Vietnam’s benchmark VN-Index recorded the fifth consecutive gaining session, rising 1.33% to close at nearly 1,294 points.

Following four consecutive rises, the necessity to take profits prompted VN-Index to invert and decline twice in this morning's session. However, untied investors' sentiment boosted capital flow to bottom fishing, assisting indexes to quickly regain and bounce back.

Blue chips are the main driver of the market’s advancement in the opening session of the week.

The VN30 basket, comprised of 30 largest stocks by market cap and liquidity on the Ho Chi Minh Stock Exchange (HoSE), saw 18 gainers and 8 losers. Leading the uptrend was VJC (Vietjet Air) with a margin of 4.3%, followed by other gainers like STB, TPB, and PLX. Meanwhile, after being the largest champion in the previous session, PNJ (Phu Nhuan Jewelry) flipped to the greatest losers.

VN30-Index closed the session at 1,342.87, up 7.19 points. Liquidity reached VND6,897 billion ($297.6 million), accounting for 41.8% of HoSE liquidity.

Small and medium stocks also performed well, with VNSmallCap and VNMidcap up by 0.84% and 0.88%, respectively.

VN-Index closed Friday at 1,293.92, up 8.47 points, with 289 stocks gaining (22 stocks hit the price ceiling) and 145 losing. The index extended its rally to the fifth session with a cumulative 75.11 points, and briefly topped the 1,295-point milestone, the highest in nearly three weeks.

HNX-Index climbed by 21.6 points (0.51%) to 312.77, while UpCoM-Index rose by 0.42 points (0.44%) to 95.71.

On the three exchanges, 623 stocks were gainers and 314 losers, with total liquidity reaching VND19,356 billion ($835.2 million)

The market's momentum was bolstered by the dominance of green in various sectors like banking, securities, real estate, construction, and logistics.

Especially, oil and gas drew a lot of attention when they remained bullish throughout the session. Of this, PXS (Petroleum Equipment Assembly & Metal Structure) and PVB (PetroViet Nam Coating) reached the ceiling price, among other gainers like PVC, BSR, PVS, OIL, and PGD.

Foreign investors remained net buyers to the tone of more than VND1,675 billion ($72.3 million) on HoSE. The selling force focused on the FUEVFVND fund with a total value of VND1,135 billion ($48.97 million).

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Vietnam