Vietcombank, Vinhomes tickers drive VN-Index up

Vietnam’s benchmark VN-Index rose 0.61 percent to 1,268.28 points Tuesday, a new peak, led by Vietcombank and Vinhomes tickers.

The index was on an upward trend throughout the day, hitting the 1,286 mark in the early afternoon before falling to the 1,260 range. It closed with a near 8-point gain.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, rose 17 percent to VND23.1 trillion ($1 billion), the highest of the past five sessions. The bourse saw 187 tickers gain and 227 lose.

VCB of state-owned lender Vietcombank contributed most to the gain of VN-Index this session with 4.5 points.

It rose 4.6 percent to a three-month high. The ticker has gained 6.8 percent in the last two sessions.

VHM of real estate giant Vinhomes contributed 3.6 points to VN-Index’s rise. It closed with a 3.9 percent gain, hitting a new historic peak.

VNM of dairy giant Vinamilk pushed the index up by 1.8 points. It rose 3.3 percent, with 6.99 million shares being traded, the highest since November 2017.

PDR of Phat Dat Real Estate Development rose 4.6 percent to a new all-time peak. This is its third session in the green.

MWG of electronics retail chain Mobile World also hit a new peak with a 3.7 percent gain.

On the losing side, TCH of real estate company Hoang Huy Investment Financial Services plunged 2.6 percent. It has lost 14 percent in the past 11 days.

Foreign investors were net sellers for the fifth session in a row to the tune of VND553 billion, down 25 percent, with strongest pressure on VHM, VNM and CTG of state-owned lender VietinBank.