VN-Index rebounds, hitting new high

VN-Index rebounds, hitting new high

Foreign investors continued their net buying streak for the third consecutive session, signalling growing confidence in the market.

Binh Son Refinery's workers operate machines at its facility. Shares of the company jumped more than 5.9 per cent on Friday, helping the VN-Index to set a new record. — Photo bsr.com.vn

Việt Nam’s stock market ended mixed on Friday, with the benchmark VN-Index surging to a new record as strong capital inflows into State-owned enterprises offset broad-based selling pressure.

On the Hồ Chí Minh Stock Exchange, the VN-Index rose 12.34 points, or 0.67 per cent, to close at 1,867.90 points. The index had edged lower on Thursday amid short-term profit-taking.

Despite the headline gain, the market showed mixed breadth, with decliners outnumbering advancers. Only 107 stocks closed above their reference prices, while nearly 220 ended the session lower.

Liquidity eased from the previous session but remained high at VNĐ39.2 trillion, equivalent to nearly US$1.5 billion.

The VN30-Index, which tracks the 30 largest stocks on the exchange, finished below its reference level, slipping 7.82 points, or 0.38 per cent, to 2,066.21 points. Within the VN30 basket, 12 stocks advanced, 17 declined and one ended unchanged.

On the Hà Nội Stock Exchange, the HNX-Index extended losses for a second session, falling tw points, or 0.8 per cent, to 247.1 points.

The VN-Index’s advance was driven mainly by heavyweight bank stocks. Vietcombank (VCB) was the biggest contributor, adding 8.32 points after surging 6.75 per cent.

Other lenders including BIDV (BID), VietinBank (CTG) and MBBank (MBB) also supported the market, each gaining more than 3 per cent.

In contrast, the real estate sector came under heavy selling pressure. Shares of Đất Xanh Group (DXS), Hồ Chí Minh City Infrastructure Investment (CII) and Phát Đạt Real Estate Development (PDR) hit their floor prices and closed without buyers.

Other developers, such as Khang Điền House Trading and Investment (KDH), Nam Long Investment Corporation (NLG) and Novaland (NVL), fell by more than 5 per cent.

Vinhomes (VHM) was among the few real estate stocks to post a gain, albeit a modest one of 0.65 per cent.

After recent advances, the oil and gas sector showed a sharp divergence. PV Gas (GAS) continued to climb, rising 6 per cent, while Bình Sơn Refining and Petrochemical (BSR), Petrolimex (PLX) and PV Power (POW) also gained between 3 per cent and 6 per cent.

Meanwhile, smaller-cap oil and gas stocks such as PV Drilling (PVD), PV Trans Corporation (PVT) and PV OIL (OIL) faced profit-taking pressure, falling 2–3 per cent from their reference prices.

Foreign investors extended their net buying streak to a third consecutive session, signalling growing confidence in the market. They net bought more than VNĐ805 billion on the Hồ Chí Minh exchange and VNĐ14.76 billion on the Hà Nội exchange. 

Bizhub