VN-Index up 11 points on bottom-fishing demand

Vietnam’s benchmark VN-Index closed the Tuesday session in green color as investors went bottom-fishing.

VN-Index, which tracks the Ho Chi Minh Stock Exchange's (HoSE) performance, jumped 11.55 points or 1.17% to close at 997.7, ending its four-day streak of declines. There were 247 losers and 199 gainers on the major bourse.

On the Hanoi bourse, the HNX-Index dropped 1.48 points or 0.71% to 208.02, while the UPCOM-Index on the unlisted public company market fell 0.2 points or 0.26% to 76.25.

Among the bluechips that supported the market were CTG of Vietinbank, HPG of Hoa Phat Group, SAB of brewer Sabeco, MBB of MB Bank, and BVH of Bao Viet Group. Meanwhile, PLX of Petrolimex, KDH of Khang Dien House Trading and Investment JSC, and GVR of Vietnam Rubber Group were major obstacles to market gains.

The trading value on the three bourses hit VND14,110 billion ($567.7 million), including VND12,607 billion on the HoSE.

Foreign investors remained net sellers to the tune of over VND70 billion ($2.8 million) on the HCMC bourse, mainly selling VNM of Vinamilk, HPG, and SSI of Saigon Securities Inc.

Notably, while the basic market saw modest trading value, the derivatives market continued to attract strong cash flows, with 644,590 futures contracts worth VND61,806 billion ($2.48 billion), an all-time high.