VN-Index posts biggest gain in four weeks

By Dat Nguyen September 28, 2021 | 16:51 GMT + 7

An investor watches stock prices on a smartphone at a brokerage house in Ho Chi Minh City. Photo by VnExpress / Quynh Tran

Vietnam’s benchmark VN-Index rose 1.08% to 1,339.31 points on Tuesday, its biggest gain in four weeks, as investors expect positive signals for an economic reopening.

The index started in the red but gradually climbed up throughout the day and closed 14 points higher after plunging to a one-month low on Monday.

The value of trades on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell almost 16% to VND 18,370 billion ($ 805 million).

Hanoi eased restrictions on Tuesday by allowing outdoor activities to resume for groups of 10 or fewer after imposing the ban on July 8.

The World Bank on Tuesday kept its economic growth forecast for Vietnam at 4.8%, expecting a rebound in the last quarter.

The VN30 basket, comprising the 30 largest capped stocks, was a sea of ​​green on Tuesday with 24 winners led by GAS from state-owned Petrovietnam Gas with a 5.7% increase.

The rise took the ticker to a nearly seven-week high as it rebounded from last month’s plunge.

BVH of insurance company Bao Viet Holdings rose 3.9%, offsetting the same loss on Monday.

Steelmaker Hoa Phat Group’s HPG rose 3.5% to a nearly three-month high. The ticker has been rising slowly since the first stumble in mid-July.

Phu Nhuan Jewelry’s PNJ gained 2.2%, continuing to move sideways.

Fourth blue-chip stocks ended in the red, with brewer Sabeco’s SAB down 1.2% and private lender VPBank’s VPB down 0.3%.

The HNX index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.86% while the UPCoM index for the unlisted public companies market gained 0.26%.

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