Stock market extends recovery as VN-Index surpasses 1,240 points

Stock market extends recovery as VN-Index surpasses 1,240 points

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index climbed 18.98 points, or 1.55 per cent, to close at 1,241.44 points.

Customers conduct transactions at the headquarters of Bảo Việt Securities Company. — VNA/VNS Photo

The Vietnamese stock market maintained its recovery momentum at the start of the new week, with the VN-Index rising by nearly 19 points, to surpass the psychological threshold of 1,240 points. While investor sentiment remained upbeat, market liquidity declined compared to the previous session and foreign investors continued to sell, albeit modestly.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index climbed 18.98 points, or 1.55 per cent, to close at 1,241.44 points. Market breadth leaned positively with 226 advancers outpacing 114 decliners.

The VN30-Index, which tracks the 30 largest listed stocks by market capitalisation, also rose by 15.93 points, or 1.22 per cent, to 1,325.87 points. Among these, 16 stocks gained, 11 declined and three remained unchanged.

Despite the strong rebound in prices, liquidity dropped sharply. Trading value on Monday reached VNĐ24.2 trillion (approximately US$939.1 million), down 36.5 per cent from Friday’s session, with just over 1 billion shares traded across the board.

According to vneconomy.vn, the VN-Index moved cautiously during the morning session, at one point gaining only 3.6 points. However, the index closed with a gain of nearly 19 points as buying momentum accelerated in the afternoon when short-term profit-taking pressure eased.

Indeed, afternoon liquidity remained weak. Trading value on HoSE during the afternoon session dropped by 21.4 per cent compared to the morning and by 20 per cent across both HoSE and HNX combined.

Despite this, stock prices rose significantly. While the morning session saw 237 gainers and 221 decliners, by the end of the day, gainers surged to 311 and decliners dropped to 179. Notably, the number of stocks rising over one per cent rose from 112 in the morning to 160 by market close, with 21 hitting the daily limit.

This divergence between falling liquidity and rising prices indicates that selling pressure is weakening. Buyers were willing to lift their bids to seek liquidity, yet the volume remained low. Such behaviour suggests rising optimism and investor willingness to hold on, rather than to exit quickly after last week’s rebound.

Blue-chip performance was mixed. Despite the VN30-Index’s gain of 1.22 per cent, several large-cap banking stocks struggled: Vietcombank (VCB) dropped by 0.84 per cent, VietinBank (CTG) by 0.26 per cent, Techcombank (TCB) by 0.19 per cent, VPBank (VPB) by 0.86 per cent and Vinamilk (VNM) by 1.04 per cent. 

There also appeared to be a shift in capital flows toward more resilient and fundamentally strong stocks amid ongoing global uncertainty. Early in the session, industrial park stocks rallied following news that some electronic products had been excluded from retaliatory tariff lists. However, these products are still subject to different tax categories.

Foreign investors were net sellers on HoSE with a net outflow of VNĐ124.3 billion and they returned to net buying in the afternoon with a value of VNĐ299.2 billion. The overall net sell figure was largely due to the VNĐ423.5 billion sold in the morning session. 

Bizhub