State-owned enterprise (SOE) stocks experienced a strong surge today, driving the VN-Index upwards. This positive movement followed the government's issuance of Decision 40/2026, which outlines new policies related to the equitization and divestment of these entities.
According to BIDV Securities (BSC), the new decision grants greater autonomy to agencies representing state ownership. It shifts the performance metric from "administrative compliance" to "financial efficiency," empowering capital representatives and owners to proactively cut losses and divest in a timely manner according to market conditions. This change aims to streamline processes, preventing the need for multi-level reporting that previously increased the risk of severe capital loss.
"These are positive signals for the equitization and divestment of state-owned enterprises in the coming period," BSC stated.
The market initially faced selling pressure, a continuation from the two preceding down sessions. However, after 10h, the stock market reversed course, buoyed by the recovery of large-cap stocks. The benchmark index rose above the 1.770 point threshold before slightly retreating closer to the midday break.
In the afternoon session, the market continued its ascent. Despite this, an unexpected surge in selling pressure during the closing auction (ATC) session caused volatility towards the end of trading. The VN-Index ultimately closed at 1.768 points, an improvement of more than 3 points compared to yesterday's close.
Across the HoSE exchange, there were 155 gaining stocks, a small difference from 137 declining stocks. This indicates a lack of broad market consensus and a significant differentiation in capital flow. The primary support for the market came from SOEs. Many of the stocks contributing the most points to the VN-Index belonged to this group, including GAS, CTG, BID, GVR, VNM, VCB, and BSR. Notably, GAS and BSR reached their ceiling prices, while VNM also hit its ceiling at one point.
Beyond these major contributors, several other SOE stocks also performed strongly. Codes such as BCM, SZC, ACC, L10, SC5, VSI, and SRC all hit their ceiling prices early in the day and maintained those gains until the close.
 |
Investors monitoring the market at a securities company in TP HCM. Photo: Quynh Tran |
Conversely, the main pressure on the VN-Index came from stocks within the Vin group. VIC shares fell 1,7% today to 215.000 dong, while VHM dropped 5,3% to 73.000 dong. Combined, these two stocks caused the overall index to lose approximately 10 points.
Liquidity on the HoSE exchange improved by 20% compared to yesterday. The total transaction value recorded exceeded 18.100 ty dong.
Foreign investors continued to be net sellers, though the value was relatively low at approximately 59 ty dong. Selling pressure focused on VHM, TCB, VPB, and VIC. In contrast, DMX, a newly listed stock on HoSE, saw significant net buying of nearly 682 ty dong, which helped to balance the overall selling pressure.
For the entire week, the stock market gained more than 32 points, corresponding to a 1,86% increase. This marks the second consecutive week of improved scores for the market. However, persistently low liquidity has led analysts to suggest that the market lacks substantial support from large capital flows, making the current uptrend potentially less sustainable.
Tat Dat
