The VN-Index closed today's session at 1,891 points, marking its highest level since late January. This positions the Ho Chi Minh City Stock Exchange's benchmark index approximately 10 points, or less than 1%, away from its historical closing peak of 1,902 points.
Before today's trading, many analysis groups anticipated an early correction for the VN-Index. This expectation stemmed from the index's ascent being primarily driven by Vingroup-affiliated stocks, with no significant improvement in liquidity. This prediction held true only during the morning, as broad selling pressure caused the index to drop over 6 points. However, after the midday break, strong buying in the securities sector quickly helped the index recover, continuously expanding its gains.
"The 1,900-point level will be a significant resistance, with an increased risk of short-term profit-taking," commented the analysis team from ACB Securities Company.
Green dominated the Ho Chi Minh City Stock Exchange, with 202 stocks gaining, nearly double the number of declining shares. The large-cap basket showed an even greater disparity, with 24 stocks rising, 8 times the number of falling stocks.
The securities sector exhibited the most excitement, with all its component stocks closing above their reference prices. VIX and HCM both hit their daily limits, while leading industry codes such as SSI, VCI, TCX, VPX, and VCK all saw increases of 2-4%. This positive movement followed FTSE Russell's update, which added 29 eligible stocks to the FTSE Global All Index. Additionally, some organizations predicted Vietnam's potential inclusion in MSCI's watch list for an upgrade during next month's review.
Banking stocks also performed well, though with more modest gains compared to the securities sector. STB, LPB, ACB, and EIB all accumulated over 2% increases, while larger-cap codes such as VCB and BID rose by 1%.
In the real estate sector, Vingroup-related stocks remained the primary drivers. VRE and VPL rose by 4% and 2,3% respectively, while VIC reversed from a decline to its reference price of 219,500 dong. Shares of several developers, including Dat Xanh, TTC Land, Phat Dat, and Quoc Cuong Gia Lai, also gained over 1%. Conversely, Novaland continued to face strong selling pressure, losing approximately 4% after two consecutive sessions hitting the daily floor.
The oil and gas sector performed less favorably today, influenced by fluctuations in global oil prices. With the exception of POW and GAS, which maintained gains, most stocks in this group closed in the red, with declines ranging from 0,5% to 1,5%.
Liquidity on the Ho Chi Minh City Stock Exchange reached nearly 24,000 billion VND today, a slight increase compared to the two initial sessions of the week. Novaland recorded a trading value of nearly 1,300 billion VND, significantly surpassing the two next highest-traded codes, VIX and VHM.
Foreign investors continued to signal negatively, with 10 consecutive net selling sessions. This group sold over 3,900 billion VND worth of shares while only disbursing an additional 2,800 billion VND. The capital outflow pressure from foreign investors concentrated on HPG and ACB, with net selling volumes exceeding 7 million and 10 million shares, respectively.
Phuong Dong
