VN-Index recovers, hitting one-month high

The rebound came despite another decline in market liquidity.

 

Vingroup's Landmark 81 building in HCM City. The group's shares surged nearly 3.4 per cent on Wednesday, leading the benchmark's recovery. VNA/VNS Photo

HÀ NỘI — The market's benchmark VN-index rebounded rapidly on Wednesday, approaching the 1,800-point threshold as large-cap stocks, particularly Vingroup-related shares, energy and banking stocks, provided support. However, declining liquidity continued to signal caution among investors.

On the Hochiminh Stock Exchange (HoSE), the VN-Index gained 19.77 points, or 1.1 per cent, to 1,793.18 points. 

The rebound came despite the decline in market liquidity. Total trading value fell from the previous session to over VNĐ14 trillion (US$537 million).

Market breadth was neutral, with 160 stocks advancing, while 154 declined.

Large-cap stocks were the main driver of the VN-Index's upswing. The VN30 basket recorded 20 gainers, three unchanged stocks and seven decliners, pushing the VN30-Index up nearly 14 points to around 1,936 points.

Vingroup family stocks were among the strongest contributors. In particular, Vingroup (VIC) gained 3.3 per cent, while Vinhomes (VHM) rose 2.4 per cent, providing significant support to the benchmark after both stocks experienced considerable volatility in previous sessions.

Energy shares also traded positively, with PV Gas (GAS) advancing 3.2 per cent and PetroVietnam Refining and Petrochemical Corporation (BSR) gaining 1.7 per cent.

Buying interest extended to several other large-cap stocks. Vietnam Rubber Group (GVR) rose 2.7 per cent, while banking shares Techcombank (TCB), VPBank (VPB) and HDBank (HDB) gained 1.6 per cent, 0.8 per cent and 1.1 per cent, respectively. 

Becamex (BCM) hit its daily ceiling price, while Dien May Xanh Investment JSC (DMX) increased 2.2 per cent.

The gains were partly offset by weakness in several other heavyweight shares.

Vietcombank (VCB) declined 0.2 per cent, while Vietinbank (CTG) slipped 0.3 per cent, and MaritimeBank (MSB) lost 1.2 per cent. Technology heavyweight FPT fell 0.6 per cent, while Techcom Securities (TCX) fell 0.7 per cent.

The HNX-Index on the Hanoi Stock Exchange (HNX) moved in the opposite direction, losing 2.46 points, or 0.9 per cent, to 288.45 points.

Foreign trading provided another positive signal during the session. After several sessions of mixed activity, foreign investors returned to net buying with more than VNĐ330 billion on the two main bourses. — BIZHUB/VNS 

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