Blue chip stocks lead market recovery
Blue chip stocks lead market recovery
Market breadth was decidedly positive, with 229 advancing stocks far outnumbering 85 decliners. Liquidity on the southern bourse improved to VNĐ10.4 trillion (over US$409.1 million), representing a 22.3 per cent increase compared to the previous session.
The fish sauce production line of the Masan Group. MSN shares led the market on Wednesday, contributing to the VN-Index regaining the 1,235-point threshold. — Photo kinhtedothi.vn |
Việt Nam's stock market rebounded on Wednesday, driven by gains in blue chip stocks, as the VN-Index reclaimed the 1,235-point level. Trading liquidity improved slightly, even as foreign investors extended their net-selling streak to seven consecutive sessions.
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose by 7.11 points, or 0.58 per cent, to close at 1,236.18 points.
Market breadth was decidedly positive, with 229 advancing stocks far outnumbering 85 decliners. Liquidity on the southern bourse improved to VNĐ10.4 trillion (over US$409 million), representing a 22.3 per cent increase, compared to the previous session.
The VN30-Index, which tracks the top 30 large-cap stocks on HoSE, also increased by 8.41 points, or 0.65 per cent, to close at 1,297.64 points. Within the VN30 basket, 24 stocks advanced, five fell, and one remained unchanged.
Masan Group Corporation (MSN) led the blue-chip gains, climbing by 3.3 per cent and adding over 0.75 points to the VN-Index. Other significant contributors included Vietnam Airlines JSC (HVN), up 3.96 per cent, Hòa Phát Group Joint Stock Company (HPG), up 1.35 per cent and the Vietnam Prosperity Joint Stock Commercial Bank (VPB), which rose by 1.38 per cent.
Meanwhile, minor losses were recorded in certain sectors, with declines in the Bank for Foreign Trade of Vietnam (VCB), the Vietnam Joint Stock Commercial Bank For Industry And Trade (CTG) and CII Bridges & Roads Investment JSC (LGC).
Market analysts at Việt Dragon Securities noted: “The market continues to find support near the 1,235-point level, a convergence of moving averages and has rebounded accordingly. Liquidity has improved from the previous session, indicating better support from cash inflows, while supply pressure remains manageable.
"The current recovery signals reinforce the 1,235-point zone as a strong support level for the market. We expect further support, with opportunities for gradual gains in the coming sessions.
“Therefore, investors may anticipate the market's recovery potential. Short-term opportunities in select stocks showing strength at support levels could be exploited. However, caution is advised when locking in profits on stocks that have risen significantly near resistance zones or when restructuring portfolios.”
On the Hà Nội Stock Exchange (HNX), the HNX-Index also posted gains, rising by 1.28 points, or 0.59 per cent, to close at 219.55 points.
Investors traded VNĐ881 billion worth of shares on the northern exchange, equivalent to over 62 million shares.
Meanwhile, foreign investors maintained their net-selling trend, with a combined net outflow of over VNĐ428 billion across the two main exchanges.
