Ho Chi Minh City Stock Exchange (HSX) liquidity surged 10% yesterday, marking its four consecutive session of gains. Analysts at SSI Securities Company attribute this recovery to reduced interest rate pressure compared to late last year, according to a new strategy report. Investor capital primarily flowed into leading stocks across the banking, securities, consumer goods, and heavy industry sectors. Consequently, 13 stocks on the HSX recorded trillion-dong trading values. SSI led the trading volume with over 1,930 billion VND, significantly surpassing VNM (1,660 billion VND) and VCB (1,615 billion VND).

Despite improving liquidity, the VN-Index, the benchmark for the HSX, showed signs of slowing after an early-week surge. The index experienced strong fluctuations around its reference level today, reversing direction four times from gains to losses. While it briefly set a new record high of 1,918 points, it ultimately closed down more than 8 points at 1,894 points. The primary reason for the index closing below its reference level was significant selling pressure on Vingroup-related stocks. Four tickers – VIC, VHM, VPL, and VRE – saw declines of 2,5% to 5,7%, collectively pulling the index down by 22 points. This indicates that without the impact of the Vingroup group, the index would have remained in positive territory.

Today, the HSX saw 170 stocks advance while approximately 150 declined, indicating strong divergence across most sectors.

For instance, within the banking sector, state-owned banks such as BID, VCB, and CTG continued to gain. However, private bank stocks faced considerable selling pressure: VPB fell 3,3%, while HDB, TCB, TPB, and VIB each lost more than 2%.

Similarly, in the securities sector, industry leaders like SSI, VIX, HCM, and VPX defied the market trend with gains of 1% to 4%. Conversely, VCK, TCX, VCI, and VND all ended the day in the red.

Real estate stocks also exhibited two contrasting trends. Gainers included NVL, NLG, AGG, and KHG, with increases ranging from 0,2% to 1,3%. The declining group comprised KDH, CII, DXG, DXS, and HDG.

The oil and gas sector was a rare exception, maintaining a unanimous positive trend. OIL, PVC, and PLX all hit their daily trading limits, closing with no sellers. GAS, BSR, and PVS posted more modest gains, ranging from 1,8% to 3,2%.

Foreign investors extended their net selling streak, with a value similar to yesterday's 450 billion VND. This group primarily divested from real estate stocks, including VRE, VHM, DXG, KDH, HDG, and PDR.

Phuong Dong