Economy
VN's food processing industry struggles to improve quality and value chain integration
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| A customer fills up at a Petrolimex (PLX) gas station. PLX soared 7 per cent on Wednesday. VNA/VNS Photo Minh Quyết |
HÀ NỘI Việt Nam's stock market rebounded slightly on Wednesday thanks to the growth of petroleum stocks but the decline of large-caps in the banking group curbed the rise of indices.
The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) gained 0.24 per cent to end at 1,465.02 points.
The index had lost 0.41 per cent to end Tuesday at 1,461.50 points.
The market's liquidity was positive with 258 stocks rising, while 194 slid.
Investors poured over VNĐ29.7 trillion (US$1.3 billion) into the southern exchange, equivalent to a trading volume of 985.5 million shares.
On HOSE, foreign investors were net sellers of VNĐ695 billion for the first time after five consecutive days of net buying, mainly focusing on Pan Group (PAN), Hoà Phát Group (HPG), Nam Long Group (NLG) and Vinamilk (VNM).
The 30 biggest stocks tracker VN30-Index lost 0.22 per cent, to end at 1,523.79 points. Thirteen in the VN30 basket climbed, while 13 decreased and four stayed flat.
Many stocks in the VN-30 basket lost ground and pressured the market, including Hoà Phát Group (HPG) falling 2.1 per cent, Asia Commercial Bank (ACB) dropping 0.1 per cent, Vietinbank (CTG) losing 1,4 per cent, Techcombank (TCB) falling 1.1 per cent and VPBank (VPB) down 0.9 per cent.
On the other side, Petroleum stocks attracted strong cash flow as a series of stocks in the group gained ground, such as Việt Nam National Petroleum Group (PLX), soaring 7 per cent, PVPower (POW) gaining 2 per cent and PetroVietnam Gas JSC (GAS) rising 1 per cent.
On a sector basis, 21 out of 25 sector indices on the market gained ground, including real estate, securities, oil and gas, wholesale, retail, information and technology, food and beverage, rubber production, construction, and seafood processing.
On the other side, losers were construction materials, banking, insurance and logistics.
On the Hà Nội Stock Exchange (HNX), the HNX-Index gained 1.30 per cent to end Wednesday at 438.24 points.
The index had gained 0.12 per cent to end Tuesday at 432.64 points.
During the trading session, more than 150.8 million shares were traded on HNX, worth nearly VNĐ3.9 trillion. — VNS
