The benchmark index of the Ho Chi Minh City Stock Exchange fluctuated throughout the day, reflecting the tug-of-war between buyers and sellers. From mid-afternoon, the index solidified its gains as money flowed into large-cap stocks.
The VN-Index closed at 1,507 points, exceeding the expectations of most securities companies and investors.
Before today's trading session, most analysts predicted a continued decline, with the VN-Index potentially falling to 1,460 points. Similarly, in a VnExpress poll of approximately 4,700 investors, 58% predicted a market downturn, while less than 30% believed in a recovery.
Today, 223 stocks advanced on the Ho Chi Minh City Stock Exchange, double the number of declining stocks. Gains were prevalent in sectors like fertilizers, steel, seaports, and airlines.
Banking stocks contributed the most to today's gains, with many pillar stocks rising by more than 4%. VPB was a notable case, declining in the morning session but rebounding to hit its ceiling price of 25,250 VND in the afternoon. SHB also hit its ceiling price of 16,100 VND, closing with nearly 25 million shares in the buying queue. Conversely, some bank stocks faced pressure after a recent rally, with SSB, for example, dropping 3.3%.
In the securities sector, VIX hit its ceiling price of 25,600 VND. SHS and APS, two stocks trading on the Hanoi Stock Exchange, also closed at their ceiling prices. Other pillar stocks such as SSI, HCM, and VND all increased by more than 1.4%.
The real estate sector saw significant divergence. Cash flow concentrated on small-cap stocks like SCR, AGG, and LDG, pushing all three to their ceiling prices. After hitting its floor price yesterday, NLG rebounded 4.4% to 41,500 VND. Conversely, Vingroup stocks declined, with VIC losing 3.3%, and VHM and VPL dropping about 0.8%.
Compared to yesterday's sell-off, market liquidity decreased significantly. Today, 1.66 billion shares were traded, with a total value of over 41,650 billion VND. Large-cap stocks accounted for nearly 20,000 billion VND of this.
Eight stocks recorded liquidity exceeding one trillion VND, led by SHB and SSI at 2,276 billion VND and 2,095 billion VND, respectively. VIX, VPB, and VND followed, with liquidity ranging from 1,200 to 1,800 billion VND.
After four consecutive sessions of net selling, foreign investors returned to the market. They disbursed 5,500 billion VND while selling less than 4,000 billion VND. They focused on buying FUEVFVND exchange-traded funds and strongly recovering stocks like VPB, VIX, and SHB.
Phuong Dong
