Blue chips lift VN-Index past 1,350 points

Blue chips lift VN-Index past 1,350 points

The VN-Index posted a fairly strong performance during the first half of the morning session, peaking at 1,352.01 points, up 5.2 points, before slipping, then recovering in the afternoon to close in positive territory.

A worker taps a rubber tree in Lâm Đồng Province. Rubber producer GVR's shares rose on Thursday, contributing to the VN-Index surpassing the 1,350-point mark. — Photo vneconomy.vn

The stock market ended slightly higher on Thursday, largely supported by blue-chip stocks, pushing the VN-Index above the 1,350-point threshold. Liquidity fell slightly compared to the previous session, while foreign investors continued their net selling streak.

The VN-Index posted a fairly strong performance during the first half of the morning session, peaking at 1,352.01 points, up 5.2 points, before slipping, then recovering in the afternoon to close in positive territory.

At the end of the trading day, the VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) rose 5.21 points, or 0.39 per cent, to 1,352.04 points. Market breadth was rather negative, as mid- and small-cap stocks mostly declined, with 162 stocks losing ground compared to 139 gainers.

Market liquidity dropped 7.8 per cent from the previous day to VNĐ18.7 trillion (approximately $715.5 million). Meanwhile, foreign investors remained net sellers, with a net outflow of nearly VNĐ900 billion on HoSE.

Leading the market’s upward movement were banking and manufacturing blue chips. Techcombank (TCB) topped the list with a 3.66 per cent gain, contributing more than two points to the VN-Index. Notably, this marked the stock’s eighth consecutive rising session.

Other large-cap stocks also performed well, including Vingroup Joint Stock Company (VIC), up 1.59 per cent; Vietnam Rubber Group - Joint Stock Company (GVR), up 3.1 per cent; and VietinBank, which rose 1.37 per cent.

On the downside, several major stocks faced strong selling pressure, weighing on the market. Hoa Phat Group Joint Stock Company (HPG), a leading steel producer, dropped 0.92 per cent. FPT Corporation (FPT) slipped 0.85 per cent, and Vietnam Airlines JSC (HVN) fell 1.43 per cent.

Analysts at SHS Securities Company said: “The short-term trend of the VN-Index continues to show upward momentum, trading above the support zone of around 1,330 points, corresponding to the 20-day moving average, with resistance at around 1,350 points, the peak recorded in March and May 2025. A successful retest of the 1,330-point level has raised expectations of the index returning to the 1,350-point zone. However, we believe short-term selling pressure will increase as the index approaches its previous peak.”

They added: “In the short term, the VN-Index has returned to the 1,350-point zone. We believe this is not an attractive level for new disbursements.

"Although the market continues to maintain a number of well-accumulated stocks or sectors, any new positions should be based on updated assessments of fundamentals, business results for Q2/2025, and growth prospects for the second half of the year. Therefore, we do not recommend adding positions at this stage.”

On the Hà Nội Stock Exchange (HNX), the HNX-Index declined by 0.64 points, or 0.28 per cent, to 227.56 points. Total trading value on the northern bourse reached VNĐ1.5 trillion, with over 80 million shares traded. 

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