An investor uses a smartphone app to trade at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
Vietnam’s benchmark VN-Index rose 1.69 percent to a new peak of 1,252.45 points Monday, with trading value surging to this year’s highest.
The index stayed in the green throughout the day and closed with a near 21-point gain, the biggest increase in the last seven sessions. VN-Index has several times hit new peaks this year after beating the 2018 level earlier this month.
Trading value on the Ho Chi Minh Stock Exchange (HoSE) rose 18 percent to VND21.5 trillion ($934 million), a new record this year, compared to the average VND15.5 trillion in the first quarter.
The increasing amount of cash poured into the stock market coincides with the rise in new investor numbers. A total 113,875 new trading accounts opened in March, the highest monthly figure ever, bring the total number to 3.02 million, equivalent to 2.8 percent of Vietnam’s population.
The VN30 basket, comprising the 30 largest capped stocks, saw 20 tickers in the green Monday, led by NVL of Novaland Group, up 5.9 percent to a new all-time peak.
This is its eighth gaining session in a row, having climbed over 18 percent since April 2.
VIC of Vietnam’s biggest private conglomerate Vingroup followed with a 5.7 percent increase, also to a new peak. The ticker has gained nearly 12 percent this month.
VPB of private lender VPBank rose 3.8 percent to a new peak, its eighth session in the green. The ticker has gone up 51 percent this year.
Foreign investors, after recording this year’s highest net buying value last session, turned net sellers to the tune of VND212 billion, with strongest pressure on VPB, VCB of state-owned lender Vietcombank and GAS of state-owned Petrovietnam Gas.
The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, gained 0.59 percent, while the UPCoM-Index for the Unlisted Public Companies Market rose 1.31 percent.