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Market continues recovery despite foreign net sales exceeding $120 million
Market breadth remained positive, with 185 rising stocks surpassing 99 decliners. Trading liquidity increased slightly to approximately VNĐ13.3 trillion ($523.3 million), with nearly 520 million shares traded.
A customer conducts a transaction at a Fortune Vietnam Joint Stock Commercial Bank branch. LPB shares rose on Thursday, contributing to the VN-Index's continued recovery. — Photo courtesy of Fortune Vietnam Joint Stock Commercial Bank
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Việt Nam's stock market extended its recovery yesterday, with the VN-Index once again reaching the 1,240-point level. Liquidity also improved slightly, even as foreign investors recorded net sales of more than VNĐ3 trillion (US$120 million).
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose by 6.18 points, or 0.5 per cent, to close at 1,242.36 points. Market breadth remained positive, with 185 rising stocks surpassing 99 decliners. Trading liquidity increased slightly to approximately VNĐ13.3 trillion ($523.3 million), with nearly 520 million shares traded.
The VN30-Index, which tracks the top 30 largest stocks by market capitalisation on the HoSE, also advanced by 5.61 points, or 0.43 per cent, to end at 1,303.25 points. Within the VN30 basket, 22 stocks posted gains, three declined and five remained unchanged.
Leading the market recovery was the Bank for Foreign Trade of Vietnam (VCB), which climbed by 1.42 per cent, contributing nearly 1.8 points to the VN-Index. Other significant gainers included the FPT Corporation (FPT), up 0.69 per cent; the Bank for Investment and Development of Vietnam (BID), up 0.51 per cent; the Fortune Vietnam Joint Stock Commercial Bank (LPB), up 1.45 per cent; and the Viettel Post Joint Stock Corporation (VTP), which surged 6.97 per cent.
On the downside, the Saigon Beer - Alcohol - Beverage Corporation (SAB) fell by 1.82 per cent, SJ Group Joint Stock Company (SJS) declined by 4.32 per cent, and the Viglacera Corporation JSC (VGC) dropped by 1.41 per cent, limiting the broader market gains.
Market analysts at the Việt Dragon Securities remarked: “The market continued its recovery momentum. Although liquidity improved compared to the previous session, it remains relatively low, indicating cautious cash inflows while supply pressure has yet to intensify.
"The current upward signals are helping the market stabilise around the 1,235 to 1,245-point range, which has been a historically contested zone. The market is likely to move further into this range to test supply and demand dynamics. Supply pressure may increase and potentially weigh on the market within this range.”
“Therefore, investors should closely monitor supply and demand dynamics to assess market conditions. Short-term opportunities can still be explored in stocks that are gradually strengthening from support levels. However, portfolio management should remain prudent to avoid overexposure, and profit-taking should be considered during the recovery,” the analysts added.
On the Hà Nội Stock Exchange (HNX), the HNX-Index also rose by 0.59 per cent to close at 220.84 points, with trading value exceeding VNĐ655 billion and over 40 million shares traded.
Foreign investors extended their net-selling streak yesterday, recording total net sales worth more than VNĐ3 trillion on the HoSE.
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