Late Gains in Heavyweight Stocks Lift Vietnam’s VN-Index 0.22%

On November 11, Vietnam’s VN-Index gained support from several heavyweight stocks during the closing auction and finished up 3.83 points, or 0.22%. Despite the reversal, 157 stocks fell and 136 rose on the Ho Chi Minh Stock Exchange, while market trading activity dropped to a four-week low.

The VN-Index and its 20-day and 50-day moving averages.（VietVance）

VIC and GAS were the main stocks supporting the index that day, closing up 1.32% and 1.78%, respectively. Concentrated buying in GAS emerged about five minutes before continuous trading ended, lifting its closing price 1.64% above its midday level. Among VN30 constituents, 20 stocks traded higher in the afternoon than at the midday close, but most gains were limited; the VN30 Index still ended down 0.3%.

Afternoon trading value in blue-chip stocks rose 15.8% from the morning but remained low at about VND 2.615 trillion. VN30 constituents accounted for 49% of afternoon trading value on the Ho Chi Minh Stock Exchange, while some funds also flowed into small- and mid-cap stocks. At the close, 68 stocks were up more than 1%; about half of them had full-day trading value below VND 1 billion.

Foreign investors turned net buyers on the Ho Chi Minh Stock Exchange in the afternoon, purchasing about VND 277.7 billion more than they sold, compared with net sales of about VND 203 billion in the morning. Their afternoon purchases totaled about VND 1.11 trillion, up 94% from the morning; VIC recorded net foreign buying of about VND 138.8 billion in the afternoon.

Source: VietVance