Vin-stocks help push VN-Index to break through 1,840 threshold

Vin-stocks help push VN-Index to break through 1,840 threshold

VN-Index on the Hochiminh Stock Exchange (HoSE) rose by 33.38 points, or 1.83 per cent, to 1,858 points.

A view of Vinhomes Grand Park, an urban area developed by Vinhomes in HCM City. Shares of the property developer hit the maximum daily gain of 7 per cent on Monday, supporting the market's strong recovery. — Photo courtesy of the company

Benchmark indices ended mixed on Monday, with the VN-Index posting a strong rebound following four straight weeks of decline.

At the close, VN-Index on the Hochiminh Stock Exchange (HoSE) rose by 33.38 points, or 1.83 per cent, to 1,858 points. 

However, the market's breadth remained negative as 133 stocks gained while 183 declined.

Liquidity also dropped from the previous session, falling to VNĐ14.6 trillion (US$554 million) from nearly VNĐ19 trillion recorded last Friday. 

Trading value was concentrated heavily in Vinhomes (VHM) and Vingroup (VIC), which together contributed more than VNĐ1.5 trillion and ranked first and second on the liquidity board. Both VIC and VHM reportedly closed at the ceiling price, adding a total of 34.14 points to the benchmark index. 

A key catalyst behind the positive price action in Vingroup-related stocks was news about new Hanoi metro and rental-housing projects.

On Monday morning, the Hanoi People's Committee organised a ground-breaking ceremony for five urban rail lines and three rental housing projects within the city. The plan sets the total length of the five metro lines at around 303.5 km, with a preliminary total investment of more than VNĐ1.3 quadrillion.

Notably, Hà Nội assigned a consortium of Vinhomes and VinSpeed as the EPC contractor for the entire project. The metro lines are also expected to connect strategic growth nodes, including Nội Bài airport, Hà Nội station, Ngọc Hồi, Hòa Lạc, Cổ Loa and Ocean Park.

This information was a trigger for renewed upside expectations across the Vingroup ecosystem, particularly under the TOD model (transit-oriented development), where transport infrastructure can lead to stronger increases in land and real estate value.

The trading board showed red coverage across real estate stocks, except for the Vin-stock group. Elsewhere, sector performance was reported as sharply differentiated.

Oil & gas was singled out as the only sector showing broadly positive momentum aligned with global crude oil trends, with PV Power (POW), PV Drilling (PVD) and Petrovietnam Refining and Petrochemical Corporation (BSR) accumulating more than 1 per cent versus their reference prices.

On the Hanoi Stock Exchange (HNX), however, the HNX-Index fell by 3.77 points, or 1.16 per cent, to 321.06 points. 

Foreign investors remained net sellers, offloading over VNĐ176 billion on HoSE and VNĐ31.36 billion on HNX. 

Bizhub