After yesterday's decline, some analysts suggested the market was taking a necessary pause to establish a new price level. The VN-Index was projected to undergo further technical corrections, returning to around 1,450 before its next breakout.
However, the market defied these predictions. After a brief initial dip, it reversed course and steadily climbed. The Ho Chi Minh City Stock Exchange's benchmark index closed at 1,475, a gain of nearly 15 points. Numerous large-cap stocks regained momentum, boosting the VN30 index by over 20 points to 1,614.
The market was overwhelmingly positive, with 215 advancing stocks, 12 of which hit their ceiling prices. Conversely, only 103 stocks declined, and none reached their floor prices.
Bank stocks were major contributors to the VN-Index's upward trajectory. CTG, TCB, SHB, and TPB all rose over 1%, while the sector's two largest stocks, VCB and BID, gained 0.7% and 0.8%, respectively.
On the UPCoM exchange, Kien Long Bank's KLB stock surged over 10% to surpass 20,000 VND after an extraordinary general meeting approved a 60% stock dividend.
Real estate stocks also saw significant activity. VIC climbed 5.2% to 117,400 VND, while VHM saw a modest increase to 88,000 VND. Smaller-cap stocks like SCR, NBB, PDR, HPX, and DXG experienced substantial fluctuations, closing at least 2.5% higher. LDG continued its streak of ceiling gains, reaching 6,310 VND with no sellers at the close.
In the securities sector, leading stocks like SSI, VND, and VCI rose between 2% and 3.6%. VIX was an outlier, hitting its ceiling price of 17,100 VND with over 4.6 million shares in unfilled buy orders at the close. HCM was the only stock in this group to buck the trend, closing down 0.4%.
Steel and construction stocks generally performed well, while oil and gas, and fertilizer stocks remained mixed.
Market liquidity decreased by nearly 2,000 billion VND compared to the previous session but remained high at 32,857 billion VND. Trading concentrated on bank and securities stocks, followed by some leading real estate stocks. Three stocks achieved trillion-VND liquidity: VIX (1,546 billion VND), SSI (1,470 billion VND), and HPG (1,187 billion VND).
Foreign investors continued their net buying, pouring in 6,238 billion VND while selling 6,000 billion VND. Their focus remained on VPB, DXG, HPG, SSI, and NVL.
Phuong Dong
