VN-Index sees sharp rebound on banking and property sector gains

VN-Index sees sharp rebound on banking and property sector gains

By the end of the session, more than 450 stocks on the Ho Chi Minh Stock Exchange advanced versus nearly 260 decliners, signalling broad-based gains.

A foreign client at a VPBank branch in HCM City. The bank's shares rose by more than 4 per cent on Tuesday. — VNA/VNS Photo

The VN‑Index has nearly recovered Monday’s losses, closing at 1,680.5 points, up nearly 28 points or 1.7 per cent, with a dramatic afternoon turnaround.

By the end of the session, more than 450 stocks on the Ho Chi Minh Stock Exchange advanced versus nearly 260 decliners, signalling broad-based gains.

The VN30‑Index, which tracks the 30 largest stocks by market capitalisation and liquidity, surged almost 50 points to around 1,949.28.

Banking stocks proved the main market pillar with an average increase of 1.9 per cent. The largest gainers included VPBank (VPB), Sacombank (STB) and Vietnam International Bank (VIB), with each rising by more than 4 per cent.

Meanwhile, Ho Chi Minh City Development Bank (HDB) rose 3.5 per cent; Techcombank (TCB) increased 2.7 per cent and Tien Phong Bank (TPB) was up 2.3 per cent. Major State-owned banks also held strong, including Vietcombank (VCB), BIDV (BID) and Vietinbank (CTG), up 1.4 per cent, 1.6 per cent and 0.8 per cent, respectively.

The banks’ strength reflects an improved third-quarter earnings outlook, with several lenders posting double-digit growth thanks to credit expansion in a low-rate environment and a recovery in consumer and housing demand.

Notably, tech-driven banks including VPBank, Military Bank and Techcombank all recorded pre-tax profits above VNĐ20 trillion (US$760 million), with VPBank up 47 per cent year-on-year. Total system credit rose by over 13 per cent and is projected to reach 20 per cent by year-end, providing a strong foundation for banking stocks.

The real estate segment also staged a rebound, rising 1.8 per cent on average. Big gainers included Vingroup (VIC), Vinhomes (VHM), Vincom Retail (VRE), Phat Dat Real Estate Development (PDR) and Dat Xanh Group (DXG), with growth between 1.9 per cent and 4 per cent.  

However, liquidity declined with 934 million shares worth VNĐ29.6 trillion ($1.1 billion), down both 4 per cent in volume and value.

Foreign investors returned in force, net buying more than VNĐ1.4 trillion. The bulk of inflows targeted FPT with a net value of over VNĐ1.2 trillion, signalling sustained offshore interest in Vietnamese technology stocks when valuations are attractive. FPT shares closed up over 4 per cent at VNĐ102,200 a share.

On the Hanoi Stock Exchange, the HNX-Index ended up 0.5 per cent at 266.78 points. Liquidity increased slightly, with more than 112 million shares worth VNĐ2.54 trillion being traded.

Analysts at Bao Viet Securities noted that market attention this week would be centred on forthcoming US interest rate moves and the portfolio restructuring of index-tracking funds.

The firm cautioned that the current phase remained challenging for short-term profit-seeking, and advised low-weight trading positions, strict stop losses and limited use of margin. 

Bizhub