Blue-chip stocks lead strong rebound as VN-Index nears 1,270 points

Blue-chip stocks lead strong rebound as VN-Index nears 1,270 points

At the close of trading on the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose 19.43 points, or 1.55 per cent, to 1,269.8 points.

Workers harvest rubber latex in Bình Phước Province. Rubber producer GVR shares hit the daily limit up on Thursday, helping the VN-Index rise close to the 1,270-point mark. — VNA/VNS Photo

Việt Nam’s stock market extended its recovery on Thursday, marking a fourth consecutive gaining session, with the VN-Index approaching the 1,270-point mark thanks to strong performance among blue-chip stocks. Liquidity improved slightly, while foreign investors continued to net buy.

Investor sentiment remained cautious in the morning following the circulation of unofficial information regarding the first round of tariff negotiations. Despite an impressive performance by VIC, the market fluctuated and posted only modest gains amid weaker liquidity and renewed net selling from foreign investors.

However, sentiment shifted in the afternoon as renewed buying interest in large-cap stocks helped the market rebound strongly. Foreign investors also returned as net buyers in the latter half of the session.

At the close of trading on the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose 19.43 points, or 1.55 per cent, to 1,269.8 points. Market breadth was positive, with 230 gainers far outnumbering 92 decliners.

Liquidity on the southern bourse improved slightly to approximately VNĐ18.9 trillion (around $726.6 million), with over 803 million shares traded.

The VN30-Index, which tracks the 30 largest listed companies by market capitalisation, also posted a sharp gain of 26.3 points, or 1.99 per cent, to close at 1,351.1. Within the basket, 28 stocks advanced, one declined and one remained unchanged.

Leading the rally was Vingroup Joint Stock Company (VIC), which hit the daily limit with a 6.95 per cent increase, contributing nearly five points to the VN-Index.

It was followed by Vietnam Rubber Group - Joint Stock Company (GVR), which also surged to the daily ceiling with a 6.84 per cent gain. FPT Corporation (FPT) climbed 4.19 per cent and the Bank for Investment and Development of Vietnam (BID) advanced 1.58 per cent.

In another development, despite the temporary suspension of Đào Nam Hải from his role as the state capital representative at Vietnam National Petroleum Group (Petrolimex) by the Ministry of Finance, PLX shares still gained 6.57 per cent on a broadly positive day for the market.

Analysts from Saigon – Hanoi Securities (SHS) commented: “The market has entered a recovery phase and will need time to establish a new price range as fundamentals continue to evolve. Investors are closely watching the 90-day suspension of retaliatory tariff imposition as well as reassessing growth prospects.

“At present, many stocks are trading at relatively attractive valuations compared to their fundamentals. These are suitable for accumulating at below-average portfolio weight or for short-term bottom-fishing strategies to reduce investment costs. However, we do not recommend increasing exposure as the VN-Index approaches the 1,265-point area.

“Investors should maintain a balanced allocation. The investment focus should remain on stocks with solid fundamentals, market leadership and long-term growth potential in strategic sectors,” they added. 

Bizhub