HANOI – The Vietnamese stock market saw a strong rebound on Tuesday, with the VN-Index nearing the 1,265-point mark. Improved liquidity accompanied the surge, although persistent net selling by foreign investors tempered enthusiasm.
The Ho Chi Minh Stock Exchange (HoSE) witnessed the VN-Index climb 11.65 points, or 0.93%, to close at 1,264.68. Market breadth was clearly positive, with 251 stocks advancing against 72 declining. Trading volume increased significantly to approximately VNĐ15.3 trillion (over US$606 million), with nearly 660 million shares changing hands.
The VN30-Index, tracking the 30 largest capitalized stocks on the HoSE, also experienced gains, rising 11.75 points, or 0.89%, to settle at 1,327.21. Within the VN30 basket, 22 stocks advanced, three receded, and five remained unchanged.
Key drivers of the market's resurgence included Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG), which surged 3.55%, contributing almost 1.8 points to the VN-Index. The Bank for Foreign Trade of Vietnam (VCB) also saw a modest 0.44% increase, while Hòa Phát Group Joint Stock Company (HPG) rose by 1.7%. The Military Commercial Joint Stock Bank (MBB) and the Bank for Investment and Development of Vietnam (BID) added 1.81% and 0.63%, respectively.
However, some stocks tempered the overall market gains. Vinhomes JSC (VHM) fell 0.64%, Viet Nam Dairy Products Joint Stock Company (VNM) declined 0.5%, and FPT Digital Retail Joint Stock Company (FRT) dropped 1.76%.
Analysts at Việt Dragon Securities commented that the market found support around the 1,255-point level and subsequently rebounded. They noted the improved liquidity as a positive sign of market support but cautioned about lingering selling pressure amidst the recovery.
Looking ahead, Việt Dragon Securities anticipates the recovery trend potentially continuing in the next session. However, they foresee strong resistance around the 1,265–1,270-point zone and advise investors to be wary of potential pullbacks. They recommend considering profit-taking during the recovery or restructuring portfolios to mitigate risks, emphasizing that market stability remains fragile and that prudent portfolio management is crucial.
On the Hanoi Stock Exchange (HNX), the HNX-Index also saw positive movement, climbing 1.4% to close at 226.61 points, with trading value exceeding VNĐ964 billion and over 61 million shares traded.
Despite the market's positive performance, foreign investors continued their net selling trend, offloading shares worth over VNĐ946 billion on the HoSE. This persistent selling pressure remains a key factor to watch in the coming sessions.
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