After two consecutive losing sessions, ending last week below the 1,500-point mark, many analysts expressed pessimism about the VN-Index's short-term prospects. The index, representative of the Ho Chi Minh City Stock Exchange, was projected to drop around 35 points to 1,460 and hover around that level for some time as it sought new growth momentum after earnings season. Today's reality, however, painted a different picture.
The VN-Index saw only a slight correction in the opening minutes, without breaching any further key psychological levels. The index reversed its course mid-morning, gradually widening its gains as several large-cap stocks like VIC, VHM, and SHB surged.
The upward momentum accelerated after the lunch break. The VN-Index closed at 1,528 points, 33 points higher than the reference point. This was the most significant rally in nearly 4 months. The last time the VN-Index saw such a gain was on 11/4 – two days after the "shock" drop triggered by tariff news from then-President Donald Trump's administration.
VIC contributed over 6 points to today's session, hitting its ceiling at 111,200 VND. Over 3.8 million VIC shares were traded via order matching, equivalent to 428 billion VND. Meanwhile, negotiated transactions saw a surge to nearly 10,000 billion VND.
According to Vingroup, this transaction is related to SK's divestment as part of its global portfolio restructuring strategy. "Today's transaction, conducted through negotiated deals, suggests that the acquiring investor has a long-term holding objective," a Vingroup representative said.
VHM, TCB, VCB, CTG, and BID followed VIC in the list of stocks positively impacting the VN-Index.
By sector, banking showed the most consistent upward trend. Most stocks in this group reversed from declines to gains exceeding 2%. SHB and TPB both closed at their ceiling prices, with 14.5 million and 8.4 million shares in outstanding buy orders, respectively.
The securities sector faced selling pressure this morning but rebounded strongly in the afternoon. SHS, a stock related to SHB and listed on the Hanoi Stock Exchange, closed with a 10% gain. Blue-chip stocks like VND, SSI, and HCM all closed over 1.5% above their reference prices.
The real estate sector was equally buoyant. In addition to leading stocks related to Vingroup, mid-cap and small-cap real estate stocks such as NVL and QCG also hit their ceiling prices. NLG rose nearly 4%, while PDR accumulated approximately 3%.
The steel, fertilizer, and aviation sectors were also in the green, but with more modest gains.
Market liquidity reached over 42,620 billion VND, about 3,600 billion VND higher than last weekend's session. Large-cap stocks contributed nearly 25,000 billion VND to this figure. SSI led in matched order value with 1,870 billion VND, followed by SHB, VIX, VND, and NVL, all exceeding 1,000 billion VND.
Foreign investors net sold nearly 10,260 billion VND, approximately five times the amount from last weekend. Excluding the significant transaction at Vingroup, foreign net selling was only around 300 billion VND.
Phuong Dong
