Despite most securities companies forecasting a technical recovery for the Ho Chi Minh City Stock Exchange's benchmark index after a strong correction, the morning session saw the VN-Index continue its deep decline. It fell over 17 points at one point, breaching the 1,630-point mark.
However, selling pressure eased after the midday break, allowing the VN-Index to reverse quickly. The index steadily widened its gains, at one point rising 43 points above its reference level. During the closing price determination order matching session, the increase narrowed to 33 points, closing the session at 1,679 points. This marks the strongest single-day gain since early November.
A broad green swept across the Ho Chi Minh City Stock Exchange, with 253 gaining stocks, four times the number of declining stocks. Within the large-cap basket, 26 stocks closed above their reference prices, with HDB hitting its ceiling price.
Two stocks related to Vingroup, VHM and VPL, led the list of positive contributors, adding a combined five points to the VN-Index. Most other stocks on this list belonged to the banking, oil and gas, and retail sectors.
By sector, banking displayed the most enthusiastic trading. Besides HDB, Eximbank also saw its price rise to its ceiling at 21,550 VND. Other major large-cap banking stocks like TCB, MBB, VPB, CTG, and VIB recorded increases ranging from 2% to 3%. SHB was the least positive performer, closing at its reference price of 15,900 VND.
In the securities group, VND hit its ceiling with over 2,8 million shares pending buy orders. SSI, VIX, and ORS followed, each accumulating over 4% gains compared to their reference prices. VCK, a stock of VPS Securities Company that just listed on the Ho Chi Minh City Stock Exchange this morning, bucked the market trend by falling 15,3%, from 60,000 VND to 50,800 VND.
Real estate stocks also showed widespread gains. VPL, KDH, and CII all hit their ceiling prices, while small and mid-cap stocks such as DXG, SCR, HDG, and NLG increased between 3% and 6%. Quoc Cuong Gia Lai's stock was the only one in this group to face significant selling pressure, falling to its floor price of 17,500 VND with over five million units pending sell orders.
Smaller market capitalization sectors including steel, oil and gas, retail, and aviation all performed positively, with common increases ranging from 1% to 3%.
Cash flow quickly returned to the market in the afternoon, pushing today's liquidity to nearly 24,500 billion VND, an increase of 6,000 billion VND compared to the beginning of the week. DGC, the only large-cap stock to hit its floor price, led in matched order value with over 1,600 billion VND. Leading stocks in securities, banking, and steel such as VIX, SSI, SHB, and HPG ranked sequentially in liquidity.
Foreign investors engaged in mixed trading. This group disbursed 3,588 billion VND while selling 3,594 billion VND. Foreign capital continued to flow into HPG and BSR stocks, while being heavily withdrawn from MBB, SHB, and TCH.
Phuong Dong
