A Strong Day on the Vietnamese Stock Market
The Vietnamese stock market is riding a wave of optimism, with notable gains evident in the latest trading session. On a day characterized by buoyant sentiment and impressive liquidity, the benchmark VN-Index demonstrated resilience, closing at impressive figures. This article delves into the key elements that contributed to this vibrant market atmosphere.
The Surge of the VN-Index
On Tuesday, the VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose by 13.4 points, or 0.96%, culminating the day at 1,415.46 points. This marked the index’s third consecutive increase, building on the momentum established when it broke past the psychological barrier of 1,400 points the previous day. The market showcased a positive breadth as the number of gainers significantly outpaced decliners, with 217 stocks rising compared to just 92 that fell.
Robust Market Liquidity
One of the highlights of the trading day was the robust market liquidity, which saw capital flowing abundantly across various stock groups. The total trading value on the HoSE surpassed VNĐ28.2 trillion (approximately US$1.1 billion), translating to over 1.2 billion shares changing hands. Such vibrant trading levels indicate a healthy interest from investors, reflecting their confidence in the market’s trajectory.
Key Performers: Large-Cap Stocks Take Center Stage
Leading the charge among large-cap stocks was Vietjet Air (VJC), which experienced a remarkable 5.56% increase, closing at VNĐ95,000 per share. Hòa Phát Group (HPG), a significant player in the steel manufacturing sector, also saw a commendable rise of 4.66%, ending the day at VNĐ24,700 per share. The remarkable trading volume for HPG, which reached nearly 77.5 million units, solidified its position as a key contributor to the overall index gains, underscoring its importance in the market landscape.
The recent strength of HPG shares is notable, as they are currently at a three-year high, substantially enhancing the wealth of its Chairman, billionaire Trần Đình Long, who sees his net worth increase to $2.5 billion according to Forbes’ real-time billionaires list.
Broad Support from Diverse Sectors
The positive movement in the VN-Index didn’t just stem from a couple of high-profile stocks; several others joined the fray. Influential companies such as Vinhomes (VHM), Vietjet Aviation JSC (VJC), VPBank (VPB), and Vinamilk (VNM) all saw their shares rise by at least 1.05%. This diverse support demonstrates a strong investor interest across various sectors, reinforcing a bullish market sentiment.
Mid and Small-Cap Stocks in Focus
Interestingly, while large-cap stocks drew considerable attention, mid- and small-cap stocks also attracted significant investment. Particularly in the real estate sector, several stocks remarkably surged, with companies like DRH Holdings, Hoang Quan Corporation (HQC), and LDG Investment hitting their ceiling prices. This movement points to an expanding interest across the market, indicating that the rally is not confined to the giants.
Positive Trends on the Hanoi Stock Exchange
Meanwhile, the Hanoi Stock Exchange (HNX) mirrored the upward trend with the HNX-Index finishing at 237.68 points, up 1.78 points or 0.75%. This marked its third straight day of gains, showcasing a cohesive market performance as investors remain optimistic.
Noteworthy Foreign Participation
Foreign trading activity remained a bright spot, with net buying totaling nearly VNĐ1.4 trillion, marking the fourth consecutive session of net purchases exceeding VNĐ1 trillion. Among the most heavily net-bought stocks were HPG, FPT, and SSI, signifying continued foreign interest in the Vietnamese market and its potential for growth.
By drawing together these diverse facets, it becomes clear that the Vietnamese stock market is enjoying a robust period, characterized by strong investor confidence and healthy trading activity, setting the stage for continued interest and momentum moving forward.