Vietnamese Stocks Rise Broadly as VN-Index Gains 1.68%
Vietnamese stocks rose broadly on November 10, with the VN-Index gaining 1.68% to close at 1,743.07 points and erase its losses from the previous two sessions. Trading on the Ho Chi Minh Stock Exchange was active, smaller stocks attracted more funds, and foreign investors bought a net 475.5 billion dong.
On November 10, Vietnam’s VN-Index rose 28.75 points, or 1.68%, to close at the day’s high of 1,743.07 points, moving above its 20-day moving average. The index recovered its losses from the previous two trading sessions. At the close, 221 stocks on the Ho Chi Minh Stock Exchange had risen and 94 had fallen, reflecting broad-based gains.
The VN-Index and its 20-day and 50-day moving averages.（VietVance）
In the preceding overnight session, US stocks rose, with the S&P 500, Dow Jones and Nasdaq gaining 2.35%, 2.15% and 2.74%, respectively. Brent and West Texas Intermediate crude oil futures fell 5.85% and 4.38%, respectively. Stronger US stocks and lower oil prices lifted sentiment in Vietnam’s market.
Among large-cap stocks, VIC rose 3.24% and VHM gained 2.65%. Together, they contributed more than 15 points to the VN-Index. The VN30 index also rose 1.68%, with 28 constituents gaining and two declining. Trading value approached 6.401 trillion dong, up more than 20% from the previous session.
Funds also flowed into small and mid-cap stocks. Trading value on the Ho Chi Minh Stock Exchange increased by more than 2.921 trillion dong from the previous session, a rise of 29%. The increase in trading value among VN30 constituents accounted for about 36.6% of the marketwide increase. Of the 221 stocks that rose, 120 gained more than 1% and 62 gained more than 2%.
Foreign investors bought a net 475.5 billion dong on the Ho Chi Minh Stock Exchange that day. KDH, POW and SSI led foreign net buying at 86.6 billion, 77 billion and 68 billion dong, respectively. FPT, VIX and MSB saw foreign net selling.
Source: VietVance
