The benchmark index for the TP HCM Stock Exchange fluctuated sharply in the initial minutes of the session, then solidified its gains fueled by capital flowing into Vingroup-related stocks. The index closed the final trading session of the year at 1,784 points, up 17 points from its reference level.
2025 stands out as the most positive year in Vietnam's stock market history, as the VN-Index accumulated a total of 517 points, equivalent to 40.87%. This marks the third consecutive year the index has improved, also recording its best gain in the past eight years.
The VN-Index's performance far exceeded predictions from most securities firms and investment funds. Earlier in the year, most analysts projected the index to fluctuate around 1,300-1,700 points, representing a 3-34% increase compared to the end of last year. In reality, the index temporarily fell below the 1,100-point mark when unexpected news regarding retaliatory tariffs from US President Donald Trump triggered a sell-off in early April. Afterward, the market recovered, and the index surged to a record high of 1,805 points by late December, primarily driven by the Vingroup group.
During the final trading session of the year, the TP HCM exchange experienced a "green outside, red inside" situation, meaning the index rose but the number of declining stocks significantly outnumbered gainers. The market saw 134 advancing stocks, while approximately 190 declined. The large-cap basket showed a more balanced performance with 14 gainers and 15 losers.
VIC rose by 4% to nearly 170,000 dong, contributing over 11 points to the year-end session. Three other Vingroup-related stocks: VHM, VRE, and VPL, were among the top 10 most positive contributors to the index, each increasing by over 2.6%.
Today, no single sector played a leading role in the market. The banking pillar group saw significant divergence. HDB surged 6.3% to nearly 30,000 dong, leading price fluctuations. TCB, SSB, MBB, CTG, VCB, and VIB followed, with gains ranging from 0.3-1.6%. Conversely, STB faced selling pressure, dropping 3.3% to 58,000 dong. EIB, BID, and MSB took the subsequent positions, each declining by about 1%.
The real estate sector was predominantly in the red. Aside from Vingroup-related stocks, only LDG and NBB closed above their reference prices in this group, with the rest experiencing sharp declines. CII led the declines, losing 4.6%, followed by NVL, PDR, AGG, and DXG.
The securities sector performed similarly. A few recently listed stocks, such as VPX, TCX, and VCK, provided momentum to the market. Meanwhile, leading industry stocks like VIX, HCM, SSI, VND, and VCI all closed below their reference prices.
Liquidity on the TP HCM exchange in the final session of the year reached over 22,000 billion dong, a slight increase from yesterday. The large-cap basket contributed nearly 14,000 billion dong. VIC continued to lead in liquidity with nearly 1,600 billion dong, followed by three bank stocks: HDB, STB, and SHB.
A positive sign as 2025 concluded was foreign investors net buying 720 billion dong in the final session. VPB, MBB, STB, and CTG strongly attracted foreign capital. However, overall for the entire year, foreign investors withdrew approximately 5 billion USD from Vietnam's stock market.
Phuong Dong
