VN-Index rallies on market corrections

Tuesday saw Vietnam’s benchmark VN-Index close at 1,111.18 points, up 0.78% over Monday, after initial dips.

Many stocks became red in the morning on the Ho Chi Minh Stock Exchange (HoSE), represented by VN-Index. However, strong cash inflows toward the end of the day changed the situation.

Trading on the major bourse totaled VND13,600 billion ($580 million), 0.2% lower compared with Monday.

The VN-30 basket, comprised of 30 largest capped stocks, saw trading worth more than VND6 trillion ($256 million). Foreign investors were net sellers to the tune of more than VND100 billion ($4.26 million).

In the VN-30 basket, STB of lender Sacombank and TPB of TPBank achieved gains higher than 4%, while SSI of leading broker Saigon Securities Inc. increased by 2.9%.

On the contrary, VHM of property developer Vinhomes dropped 1.2%. VIC of its parent corporation, Vingroup, also shrank by more than 1%.

Vinamilk, Vietnam’s largest dairy firm, saw its VNM sticker down 2.9%.

The HNX-Index at the Hanoi Stock Exchange increased by 0.75% Tuesday, a little higher than the 0.58% rise from the UPCoM-Index at the unlisted public companies market.