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Market surges with strong increase in liquidity
The stock market witnessed a robust rally on Thursday, with both the VN-Index and liquidity posting significant gains, supported by strong foreign net buying.
The galvanised steel production line of Hòa Phát Group. HPG shares of the steel producer led the market on Thursday. — VNA/VNS Photo
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On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index soared by 26.76 points, or 2.16 per cent, to close at 1,267.17 points.
Market breadth was overwhelmingly positive, with 267 stocks advancing compared to just 57 declining. Liquidity on the southern bourse surged to VNĐ21 trillion (over US$827.6 million), marking a significant 51 per cent increase from the previous session.
The VN30-Index, which tracks the top 30 stocks by market capitalisation, also climbed sharply by 39.62 points, or 3.05 per cent, to end at 1,337.43 points. In the VN30 basket, 29 stocks posted gains, while only one declined.
According to financial data provider vietstock.vn, Hòa Phát Group JSC (HPG) led the risers, increasing by 4.31 per cent and contributing over 1.8 points to the VN-Index. It was followed by FPT Corporation (FPT), up 3.48 per cent, the Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG), up 3.12 per cent and Vinhomes JSC (VHM), which increased by 3.24 per cent.
A few sectors experienced mild declines, with losses posted by Vietnam Airlines JSC (HVN), Viettel Post Joint Stock Corporation (VTP) and Viettel Construction Joint Stock Corporation (CTR).
Stock market analysts at Việt Dragon Securities remarked: "Contrary to the subdued sessions earlier this week, the market surged past the 1,260-point resistance level with strong momentum. The rise in liquidity compared to the previous session suggests that cash flow has returned after a prolonged period of caution."
"The breakout above 1,260 points could stabilise the market and reduce short-term risks, making this level a new support zone. However, the market’s upward trajectory may face resistance in the 1,270–1,280-point range, potentially leading to fluctuations within the 1,240–1,280-point band in the coming sessions.
"Investors can anticipate a recovery in the market and consider taking profits at favourable price levels. Nonetheless, chasing rising prices should be avoided. Instead, short-term purchases should focus on stocks with solid support levels during market corrections."
On the Hà Nội Stock Exchange (HNX), the HNX-Index also rose sharply, gaining 2.13 per cent to close at 229.41 points.
Trading activity on the northern exchange saw shares worth nearly VNĐ1.6 trillion change hands, with a total volume exceeding 88 million.
Foreign investors played a key role in the day’s positive sentiment, recording strong net purchases totalling over VNĐ669 billion on the HoSE.
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