The Vietnamese stock market opened positively on Tuesday, driven by mid-cap stocks, particularly in the real estate sector. However, trading volume continued to decline compared to the previous session.
The market experienced several fluctuations, bringing the general index close to the reference point. Near midday, selling pressure intensified, causing the index to drop around 4 to 5 points.
The decline continued into the early afternoon but quickly recovered. A series of blue-chip stocks rose, helping the general index improve. The VN-Index closed above 1,696 points, up nearly 15 points from the previous day.
On the Ho Chi Minh Stock Exchange (HoSE), 195 stocks advanced, including 9 that hit the ceiling price. 130 stocks declined. VCB and HPG were the biggest contributors to the market's gains.
By sector, steel stocks were the most notable performers. Nam Kim Steel (NKG) and Hoa Sen Group (HSG) both hit the ceiling price, with trading volumes reaching 672 billion and 587 billion VND respectively.
Hoa Phat Group (HPG) closed at 29,850 VND, gaining 6% with the highest trading volume on the market, exceeding 4,123 billion VND. Tien Len Steel (TLH) also hit the ceiling price, but with a modest trading value.
This trend was also observed in the previous session. NKG and HSG hit their ceiling prices despite the general market's downward trend.
Steel stocks are benefiting from positive news. According to Reuters, China will promote steel production cuts from now until 2026 to address overcapacity. This is expected to help steel prices recover. Domestically, analysts expect steel demand to recover as the real estate market improves and public investment disbursement accelerates.
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Investors monitor steel stocks during the trading session on 4/9. Photo: Tat Dat |
Total trading volume on the HoSE improved by over 2,500 billion VND to 39,800 billion VND. The increased capital flow into the market was mainly due to demand in the final minutes of the session.
Foreign investors continued to sell, but the net selling value decreased to about 752 billion VND. Foreign investors heavily sold VCB, VHM, MSN, MWG, GEX, and DXG. Conversely, they bought HPG (net buying of nearly 671 billion VND), MSB, FPT, and NKG.
Tat Dat
