VN-Index recovers to 1,600-point level

VN-Index recovers to 1,600-point level

After two successive recovery sessions, the VN‑Index has recouped more than 66 points and reclaimed the threshold of 1,650 points following a prior sharp correction.

Vinhomes Ocean Park 3 developed by Vinhomes in Hưng Yên Province. Shares of the property developer soared 5.25 per cent on Wednesday, supporting the market's bullish sentiment. Photo courtesy of Vinhomes

The domestic stock market extended its recovery on Wednesday, as broad-based buying propelled benchmark indices higher and financial names led gains across sectors.

On the Hochiminh Stock Exchange (HoSE), the VN‑Index advanced 43.42 points, or 2.69 per cent, to 1,658.19 points, while the HNX‑Index rose 5.86 points, or 2.4 per cent, to 249.67 points. 

The VN30‑Index, which tracks the 30 biggest stocks on the southern bourse, also rose, climbing 44.57 points, or 2.52 per cent, to 1,814.73 points.

Market breadth was decisively positive, as 565 stocks rose versus 160 decliners. Despite the rally, liquidity across all exchanges amounted to over VNĐ24.8 trillion (US$941 million), roughly 25 per cent below the one‑month average, indicating that capital has not yet returned at full force.

After two successive recovery sessions, the VN‑Index has recouped more than 66 points and reclaimed the threshold of 1,650 points following the prior sharp correction. 

Data compiled by financial website vietstock.vn showed that Vingroup (VIC) was the single largest positive driver, adding approximately 7.82 points to the VN‑Index. 

Other notable contributors included Vinhomes (VHM), which added 4.66 points to the benchmark index, VPBank (VPB) with 1.8 points, Vietnam Rubber Group (GVR), which contributed 1.59 points and Techcombank (TCB) with 1.44 points.

Securities stocks also performed well, with SSI Securities (SSI) up 3.67 per cent, Vietcap Securities (VCI) 2.94 per cent, VNDirect Securities (VND) climbing 2.99 per cent and Ho Chi Minh City Securities (HCM) surging 6.84 per cent.

On the downside, the negative impact was marginal, with names like VPS Securities (VCK), LPBank (LPB), Sabeco (SAB) and Horuco (HRC) each subtracting less than 0.1 point from the index.

Foreign investors remained cautious after offloading over VNĐ1 trillion on HoSE.

After the strong rally today, the VN-Index breached a key technical barrier, the 200‑day moving average (MA200), a development noted by some market analysts as potentially significant for near‑term price dynamics. 

Bizhub