VN-Index records strongest rise in a month

Vietnam's benchmark VN-Index rose 19.69 points, or 1.59%, to 1,258.95 on Tuesday, the strongest gain since August 16, thanks to the rallies of real estate, securities and banking stocks.

The Ho Chi Minh Stock Exchange (HoSE), represented by the VN-Index, saw 312 tickers rising and only 88 declining, with trading value mostly unchanged from the previous session at VND13.53 trillion ($549 million).

The VN-30 basket, comprising 30 largest capped stocks, saw up to 29 tickers gained.

VHM of property giant Vinhomes took the lead with a 5.4% rise, followed by VRE of retail real estate firm Vincom Retail, up 2.6%. VCB of state-owned Vietcombank gained 2.5% and MSN of conglomerate Masan Group closed 2.2% higher.

Real estate, securities and banking were three magnets to the cash flow, with almost all stocks in the green.

In the real estate group, NVL of Novaland showed not very positive performance. This stock performed negatively in the morning, dropping 4.9% at a time. However, in the afternoon, demand returned, helping it close the session at VND11,200 ($0.45), unchanged from the previous session.

The above developments came after the HoSE decided to put NVL on the warning list as this company delayed publishing its audited semi-annual financial statement by more than 15 days compared to the prescribed deadline. Last week, the HoSE also put NVL on the list of stocks that are not eligible for margin trading.

Foreign investors were net buyers on the HoSE to the tune of VND524 billion ($21.27 million). They net purchased VHM and FPT of IT giant FPT Corporation.

The HNX-Index on the Hanoi Stock Exchange, home to mid and small caps, rose 0.63%, while the UPCoM-Index on the Unlisted Public Companies Market went up 0.59%.