Blue chips boost VN-Index

The VN-Index on the Hochiminh Stock Exchange closed up on June 23, putting a halt to a five-day losing streak, boosted by gains of large-cap stocks.

However, the benchmark index extended its loss for four consecutive days on the Hanoi Exchange, following a sluggish trading session.

The VN-Index gained 5.14 points, or as much as 0.92 percent, to end at 565.92 points, although decliners overwhelmed advancers by 114-81.

The gain was mainly registered by market pillars, including PetroVietnam Gas Corporation (GAS), Masan Group (MSN), Vingroup (VIC) and Vietcombank (VCB).

With gainers overwhelming losers by 14-9, the VN30-Index rose by 0.45 percent to 609.99 points.

Selling pressure remained high during the trading session, but buyers were not willing to inject money, resulting in low liquidity. The capital inflow was only aimed at stocks in the VN30 package.

The HNX-Index on the Hanoi Exchange fell 0.43 percent to end at 75.98 points and the HNXFF-Index, composed of stocks with minimum free float rate of 5 percent, ended 0.54 percent lower at 76.45 points as investors were in a cautious mood.

Also, the trading volume and value declined over the previous trading sessions with only 28.4 million shares traded, valued at 342 billion VND (16.2 million USD).

Blue chips failed to support the benchmark indices with the HNX30-Index, tracking the capital city's top stocks, seen dropping by 0.88 percent to 151.28 points.

According to Vietnam Investment Securities, the market might temporarily level off after the review of exchanges traded fund portfolios with a lack of supportive information, as local investors were cautious while foreign investors continued as net buyers.-VNA

Source: Vietnamplus

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