VN-Index rallies sharply, approaching 1,340-point threshold

VN-Index rallies sharply, approaching 1,340-point threshold

Although tensions in the Middle East persisted, investor confidence improved markedly after the weekend, leading to a broad recovery in Việt Nam’s stock market on Monday, accompanied by a rise in net buying from foreign investors.

A truck carrying liquefied petroleum gas (LPG) operated by PetroVietnam Gas Joint Stock Corporation. The company’s GAS shares led the market on a day of strong VN-Index recovery. — Photo PVGas.com.vn

Despite ongoing tensions in the Middle East, investor sentiment improved notably following the weekend break, as Việt Nam’s stock market saw a broad-based recovery on Monday, with foreign investors also stepping up net purchases.

Although market liquidity dropped significantly, with morning trading value down 34 per cent from the previous session, stock prices rose across the board. From the outset, the VN-Index maintained a strong upward momentum throughout the day.

At the close, the benchmark index on the Hồ Chí Minh Stock Exchange (HoSE) surged by 22.62 points, or 1.72 per cent, to reach 1,338.11 points.

Market breadth was positive, with 233 stocks gaining and only 81 declining. Total trading value on HoSE dropped by 22.5 per cent to VNĐ21 trillion (approximately US$766.7 million), reflecting cautious capital deployment despite the price surge.

The VN30-Index, tracking the 30 largest stocks by market capitalisation, also gained strongly, rising 19.15 points, or 1.37 per cent, to finish at 1,420.35 points. Within the basket, 24 stocks advanced, four declined and two remained flat.

Petroleum stocks continued to lead the market with strong gains, with some hitting the daily ceiling and experiencing no sell orders - a signal that investor interest remains high amid escalating geopolitical tensions in the Middle East.

Specifically, PetroVietnam Gas (GAS) hit the ceiling with a 6.99 per cent gain, becoming the top contributor to the VN-Index with over 2.5 points. Petrolimex (PLX) also hit the ceiling with a 6.9 per cent increase, while Bình Sơn Refining and Petrochemical (BSR) rose by 5.41 per cent.

Several other large-cap stocks posted notable gains, including Vinpearl (VPL), up 6.58 per cent; Techcombank (TCB), up 3.53 per cent; and FPT Corporation (FPT), up 3.12 per cent.

On the downside, only a few major stocks recorded declines and exerted slight pressure on the index. Notably, Vinhomes (VHM), the real estate arm of Vingroup, fell 1.46 per cent, wiping nearly one point off the VN-Index. This marked the stock’s fourth consecutive session of decline.

Analysts from Saigon–Hanoi Securities (SHS) said: “June remains an unpredictable period for the market as it coincides with the final stages of trade negotiations and the imposition of potential new tariffs. Meanwhile, geopolitical tensions in the Middle East continue to escalate.

"The market has faced profit-taking pressure, particularly among speculative stocks that had previously surged, such as financial services and real estate. We have consistently recommended that investors rebalance their portfolios and remain cautious with new positions.

“Investors should maintain a reasonable allocation, focusing on fundamentally strong stocks, particularly those leading strategic sectors with outstanding growth potential.”

On the Hà Nội Stock Exchange (HNX), the HNX-Index also gained 3.3 points, or 1.47 per cent, to close at 228.12 points. Total trading value on the northern bourse reached VNĐ1.5 trillion, with nearly 80 million shares changing hands. 

Bizhub