Market rises for second day in a row
The index will likely accumulate around the 1,730-point zone before moving up toward 1,770 points and possibly 1,800 in the week.
HÀ NỘI — Despite less favourable news from the Middle East, Việt Nam's equities started the week with a recovery session, recording a second consecutive gain.
On the Hochiminh Stock Exchange (HoSE), the VN‑Index added 8.96 points, or 0.51 per cent, to end at 1,758.96 points. Earlier, the benchmark rose about 15 points above the reference level to around 1,765.
However, the market's breadth was negative as the number of decliners surpassed that of gainers. Trading liquidity was lower from the previous session, with more than 880 million shares traded on the southern bourse, equivalent to over VNĐ22.5 trillion (US$855.4 million) in value.
According to Yuanta Vietnam Securities, market flow is currently rotating between industry groups. The index will likely accumulate around the 1,730-point zone before moving up toward 1,770 points and possibly 1,800 in the week, the firm said.
In contrast, the VN30-Index, tracking the 30 biggest stocks in terms of market capitalisation on HoSE, fell slightly 2.57 points, or 0.13 per cent, to 1,925.66 points. In the VN30 basket, 21 stocks declined while seven increased and two stayed flat.
Vin stocks were a key driver of the upward impact. Particularly, Vingroup contributed nearly 14 points to the VN‑Index after rising 5.47 per cent.
Other positive contributors followed, including Vinhomes (VHM), Binh Son Refining and Petrochemical (BSR), VPBank Securities (VPX) and Gelex Group (GEX), but combined, they were reported to have supported less than four points overall.
Real estate was cited as the strongest-performing sector. Besides Vingroup, several other developers saw gains of more than 1 per cent versus the reference price, including Ho Chi Minh City Infrastructure Investment (CII), Novaland (NVL), 577 Corporation (NBB) and Dat Group (DXG).
Among other major pillar groups, performance was uneven.
In the banking sector, Sacombank (STB), Vietnam International Commercial Joint Stock Bank (VIB), Maritime Bank (MSB) and TPBank (TPB) managed to close in positive territory, though their upside was generally below 2 per cent. By contrast, several large-cap bank names: LPBank (LPB), Sahabank (SHB), VPBank (VPB), Techcombank (TCB) and BIDV (BID), closed the session in the red.
The oil and gas segment showed a similar pattern of dispersion. BSR advanced sharply after company leadership stated that the Dung Quat refinery has sufficient supply to maintain operations through July.
Meanwhile, Petrolimex (PLX) and PetroVietnam Transportation Corporation (PVT) moved differently from the index, down 1.1 per cent and 0.2 per cent, respectively.
Foreign investors were reported to have sold a net of over VNĐ 121.4 billion on the two main exchanges. — BIZHUB/VNS
