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Market rebounds, boosted by trio of Vin-family stocks
The stock market bounced back on Thursday morning, but the downtrend was still lingering due to persistent selling force.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) edged up 9.33 points, or 0.61 per cent, to 1,531.83 points. The index lost more than 3 per cent yesterday.
The market's breadth was neutral while liquidity was higher than the previous session. Of which, the trading value on HoSE rose 1.8 per cent to VND18.6 (US$819.2 million).
Foreign investors continued to net sell on the southern bourse, with a value of VND170 billion.
The index's recovery was mainly driven by some large-cap stocks, especially the trio stocks of the Vin family.
Accordingly, the VN30-Index, tracking the 30 biggest stocks on HoSE, climbed 6.71 points, or 0.43 per cent, to 1,552.72 points.
Of the VN30 basket, 14 stocks inched higher, while 14 declined and two remained unchanged.
Vingroup (VIC) led the rally with a gain of 5.8 per cent after Vinfast, owed by Vingroup, successfully announced a new development strategy and revealed its complete electric vehicle lineup covering five segments at the Consumer Electronics Show (CES 2022).
Other two stocks of the Vin family, which are Vincom Retail (VRE) and Vinhomes (VHM), also supported the uptrend, up 6.76 per cent and 1.31 per cent, respectively.
However, the index pared gains as strong selling pressure weighed manufacturing, bank and many other big stocks.
Masan Group (MSN) posted the biggest loss, down 2.61 per cent, in the morning trade. It was followed by Southeast Asia Commercial Joint Stock Bank (SSB), Hoa Phat Group (HPG), and Novaland (NVL), which fell by at least 1 per cent.
On the Ha Noi Stock Exchange (HNX), the HNX-Index increased by 4.78 points, or 1 per cent, to 485.14 points.
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