VN-INDEX BREAKS THROUGH 1,300 POINTS

An individual looks at an electronic board displaying stock information – PHOTO: TNO

HCMC — Vietnam’s benchmark VN-Index rose for a third straight session on May 14, closing above the 1,300-point mark for the first time in a month, led by strong gains in banking and brokerage shares.

The index ended up 1.16%, or 16.3 points, to 1,309.73 points, with 189 stocks advancing and 122 others declining.

Trading volume and value improved 12.6% and 14.4% over the previous session, respectively, with 1.07 billion shares worth VND27.3 trillion changing hands. Block deals accounted for 39.9 million shares valued at VND1.5 trillion.

Lender VPB stole the limelight, hitting its ceiling price of VND18,900 after a surge in buying. The stock posted a record matched volume of 95.6 million shares, with more than 1.76 million shares finding no sellers. It was the most actively traded stock.

The VPB gain drove up other major bank stocks. BID rose 4.61% to VND37,450, VCB added 3.35% to VND58,700, and LPB gained 2.73% to VND35,700.

Securities stocks also rebounded. ORS rose 3.63%, FTS gained 2.41%, and SSI increased 2.14%. Other notable gainers included VCI, VDS, and HCM.

The real estate sector was mixed. DRH and VPL hit the ceiling, while VHM and VRE fell more than 2.5%, limiting the VN-Index’s advance.

Steel stocks performed well. HSG rose 3.33% on positive April earnings. SMC, NKG, and HPG gained between 1.36% and 2.49%.

Among large-cap stocks, FPT climbed 5.69% to VND126,300. VJC rose 2.76% and MSN added 0.32%.

On the Hanoi Stock Exchange, the HNX-Index edged up 0.95 point, or 0.44%, to 218.88 points, with 79 winners and 81 losers. The northern market saw 93.2 million shares valued at VND1.47 trillion changing hands.

Source: The Saigon Times