VN-Index gains nearly 9 points on real estate, consumer goods stocks

VN-Index gains nearly 9 points on real estate, consumer goods stocks

After experiencing two sessions of volatility, the market showed improvement on Thursday, despite several periods of fluctuation.

Vincome Centre on Trần Duy Hưng Street. Shares of Vincom Retail surged nearly 3.6 per cent on Thursday, supporting the market's rebound. — VNS Photo Ly Ly Cao

The market closed higher on Thursday, primarily buoyed by the real estate, consumer goods and industrial sectors.

After experiencing two sessions of volatility, the market showed improvement on Thursday, despite several periods of fluctuation.

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) gained nearly 9 points, or 0.51 per cent, to 1,766.85 points. In the afternoon trade, the index attempted to test the 1,770-point mark but could not sustain this level due to increased selling pressure, particularly from blue-chip stocks.

On the HoSE, 180 stocks recorded gains, while 129 stocks fell. Liquidity increased to VNĐ40.3 trillion (US$1.53 billion).

Similarly, the VN30-Index finished higher at 2,022.27 points, up 12.63 points, or 0.63 per cent. The VN30 basket saw 13 stocks rising and 12 falling, while five ended flat.

Vingroup (VIC) made the most significant contribution to the index, rising 1.7 per cent. Other stocks supporting the VN-Index included VietJet Aviation (VJC), Gelex Electricity (GEE) and Vincom Retail (VRE).

Conversely, Vinhomes (VHM) negatively impacted the market, fell 1.6 per cent with a total trading value of nearly VNĐ1.2 trillion.

Throughout much of the trading session, the market was buoyed by Masan Group (MSN), which surged to its ceiling price of VNĐ88,200 just 30 minutes into trading, maintaining that level until the session close.

MSN shares performed well despite news that SK Invest Vina I, part of SK Group from South Korea, sold approximately 42.6 million shares of MSN, equivalent to nearly 3.6 per cent of the total shares outstanding, with a selling price range of VNĐ78,000 - 79,300 per share. Following this transaction, SK Group was expected to realise around $127 million.

In response to this news, Masan representatives clarified that this was a negotiated transaction facilitated by UBS Investment Bank and not a new issuance of shares. Therefore, it would not dilute existing shares.

The divestment is considered a routine financial activity for the investor and is not expected to affect Masan's business operations or strategic direction.

The HNX-Index on the Hanoi Stock Exchange (HNX) closed higher at 277.08 points, up 0.96 points, or 0.35 per cent.

The market also received support from the return of foreign investors, who purchased a net VNĐ527.2 billion worth of shares on the southern bourse following five straight sessions of net selling. However, they net sold VNĐ131 billion on HNX.

In a recent report, Dragon Capital noted that market focus is expected to shift toward the timing and scale of capital inflows following Việt Nam's upgrade by FTSE Russell.

This development is anticipated to attract billions of dollars in both active and passive investments, expanding institutional participation and reinforcing market valuation. 

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