Vietnam’s stock market is buzzing, with the VN-Index soaring by 1.26% to an impressive 1,309.73 points on Wednesday, marking the third consecutive session of growth. This robust performance follows a modest dip of 16.3 points, coming off a gain of 10 points the previous day. Interestingly, the index has experienced a surge in seven out of the eight trading days this month alone—quite the streak!
On the Ho Chi Minh Stock Exchange, trading volume witnessed a 10% increase, reaching VND 27.33 trillion (approximately US$1.05 billion), the highest level seen in three weeks. The VN-30 basket, which tracks the 30 largest listed companies, showcased a strong showing with 22 of its members recording gains. Among the standout performers, VPB, affiliated with private lender VPBank, remarkably hit its ceiling price.
Tech giant FPT Corporation also made waves, with its stock climbing by 5.69%. The state-owned lender BIDV wasn’t far behind, rising by 4.61%. Yet, not all was rosy, as seven blue-chip stocks faced a decline. Vincom Retail’s VRE dropped by 2.76%, while property heavyweight Vinhomes, represented by VHM, ended 2.58% lower.
In a stroke of positivity, foreign investors emerged as net buyers, purchasing a net amount of VND 2.26 trillion, predominantly focusing on FPT and VPB stocks. Over on the Hanoi Stock Exchange, the HNX-Index, which features mid and small-cap stocks, edged up by 0.23%. Additionally, the UPCoM-Index for unlisted public companies increased by 0.24%.
As the market continues to make significant gains, one can’t help but wonder: is it dancing with joy or just warming up for a more exhilarating performance?
What influenced the VN-Index growth recently?
An increase in trading volume, particularly in large-cap stocks like VPBank and FPT, has significantly boosted the VN-Index.
How have foreign investors impacted the market?
Foreign investors have turned net buyers, acquiring a significant amount of shares, especially in top-performing companies like FPT and VPB.
What trends are emerging in Vietnam’s stock market?
The trend shows a strong recovery with consistent gains, indicating positive sentiment and increasing investor confidence in the market.
