Strong cash inflow drives VN-Index to multi-year high

Strong cash inflow drives VN-Index to multi-year high

Overall, total market trading value approached VNĐ41 trillion — levels not seen in over a year.

A shopping mall inside Vinhomes Ocean Park. Shares of Vinhomes jumped nearly 3.3 per cent on Wednesday, supporting the market's upward trend. — VNS Photo Mai Hương

Việt Nam's stock market rose on Wednesday, extending its upward streak to a fourth straight day, with total market liquidity reaching nearly VNĐ41 trillion (US$1.6 billion), levels not seen in over a year.

The market's benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 15.86 points, or 1.12 per cent, to finish the day at 1,431.32 points – its highest level so far this year. It continued the previous day's robust gains, opening the session with a surge of nearly 13 per cent.

Market breadth was positive, as 192 stocks increased while 127 ticker symbols went down. The southern bourse's liquidity jumped by 25.5 per cent from Tuesday to over VNĐ35.4 trillion, equivalent to a trading volume of nearly 1.5 trillion shares.

The VN30-Index, tracking the 30 biggest stocks on HoSE, rose 14 points, or 0.92 per cent, to 1,543.27 points. In the VN30 basket, 23 stocks gained while six declined and one ended flat. 

On the Hanoi Stock Exchange (HNX), the HNX-Index also ticked up 0.95 points, or 0.4 per cent, to 238.63 points. Nearly 166 million shares were traded on the bourse, worth nearly VNĐ2.8 trillion.

Overall, total market trading value approached VNĐ41 trillion. 

Among the standout performers were TPBank (TPB) and Tien Phong Securities Corporation (ORS), both of which hit their ceiling prices early in the session. While TPB later cooled off, it still ended the day with a gain of over 6 per cent.

In contrast, Hoa Phat Group (HPG), which saw a notable spike the day before, faced selling pressure from foreign investors today, reversing course after three consecutive sessions of net buying. HPG's price rose slightly by 0.2 per cent, remaining above the reference level.

A robust inflow of capital poured into the market, particularly in the financial and banking sectors, which accounted for over 70 per cent of the total active buying across the exchange.

Most of the top 10 stocks contributing significantly to the HoSE index's gains were from the financial and banking sectors, including Vietcombank (VCB) up 4.24 per cent, BIDV (BID) up 1.87 per cent, VPbank (VPB) up 2.3 per cent, SSI Securities Corporation (SSI) up 5.5 per cent, Vietinbank (CTG) up 1.35 per cent, HDBank (HDB) up 2.98 per cent and TPBank (TPB) 6.43 per cent.

The other two in the top 10 were Vinhomes (VHM) and Vingroup (VIC), up 3.28 per cent and 1.82 per cent, respectively. 

Gains were capped by losses in some sectors, such as information technology, retail, chemicals, construction and utilities, due to rising selling force. 

Foreign investors maintained a net buying trend for the sixth consecutive session, increasing their buying scale. They net bought over VNĐ1.9 trillion on HoSE and VNĐ27.5 billion on HNX.

Their net purchases focused on banks, securities, the FUEVFVND fund and seafood, while significant net selling was observed in steel, information technology, construction materials, retail, food, warehousing, oil and gas, and chemicals. 

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