VN-Index extends gain for fourth straight session

VN-Index extends gain for fourth straight session

While Asian markets opened the week in the red, pressured by new tariff threats from the US and China's retaliatory response, Việt Nam's stock market displayed unexpected strength.

The entrance of Times City urban complex in Hà Nội. Shares of Vingroup hit the ceiling price on Monday, leading the market's uptrend. Photo vinhomesgardeniacity.com

The Vietnamese stock market rose on Monday, while Asian markets opened the week in the red, pressured by new tariff threats from the US and China's retaliatory response.

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) finished higher by 17.57 points, or 1.01 per cent, at 1,756.12 points, even as market breadth leaned towards declines, with a majority of stocks losing value.

On the southern bourse, 187 stocks declined and 119 inched higher, causing many investors to remain cautious as their portfolios reflected losses.

The index reached new heights for the fourth consecutive session, defying the global stock market trend following the announcement of its upgrade by FTSE Russell.

Liquidity soared from the previous session to VNĐ44.5 trillion (US$1.7 billion).

The VN30-Index also ended higher and surpassed the 2,000-point level. It closed the day at 2,012.28 points, up 31.71 points, or 1.6 per cent.

In the VN30 basket, 17 ticker symbols increased, while ten declined and three stayed flat.

On the Hanoi Stock Exchange (HNX), the HNX-Index was up 1.73 points, or 0.63 per cent, to finish at 275.35 points.

The benchmark indices’ upward momentum was primarily supported by large-cap stocks, notably the trio of Vin shares, with Vingroup (VIC) surging by 7 per cent and Vincom Retail (VRE) by 6.57 per cent.

Additionally, several real estate stocks reached their ceiling prices, including CEO Group (CEO) and Ho Chi Minh City Infrastructure Investment JSC (CII).

Other real estate shares such as Phat Dat Real Estate Development (PDR), DIC Group (DIG), Hoang Huy Investment Financial Services JSC (TCH) and Novaland (NVL) rose between 2.56 and 5.14 per cent, significantly contributing to an overall increase of nearly 4.3 per cent in the sector.

Initially, the banking and securities sectors faced adjustment pressures but quickly rebounded. Techcombank (TCB) impressed with a near 5 per cent gain, while HDBank (HDB) added 2.5 per cent.

Foreign investors were active in trading on both the buying and selling fronts, yet selling pressure prevailed, resulting in a net selling value exceeding VNĐ1.2 trillion on HoSE.

According to analysts, given the positive macroeconomic signals and reinforced prospects for the market upgrade, the VN-Index is likely to continue its upward trend. However, increased volatility may occur due to short-term profit-taking and international influences. 

Bizhub