Market extends strong rally for third day straight

At a Vietcombank branch in District 1, HCM City. Vietcombank’s (VCB) stock saw the largest gain on Tuesday, contributing nearly 2.8 points to the VN-Index. — VNA/VNS Photo

HÀ NỘI — Vietnamese markets continued their upward trend, closing higher on Tuesday as foreign investors net bought VNĐ327 billion.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index increased by 10.93 points, or 0.87 per cent, to end the trading session at 1,272.55 points.

Throughout most of the day, the VN-Index remained above the reference level, maintaining a relatively stable range and closing the session higher.

The market’s breadth was positive, with gainers outnumbering losers by 214 to 94. Liquidity on the southern bourse reached VNĐ19 trillion (US$758.5 million), marking a 13.3 per cent increase compared to the previous trading session.

The VN30-Index, which tracks the 30 largest stocks, rose by 6.21 points, or 0.48 per cent, to 1,305.25 points. Seventeen ticker symbols in the VN30 basket gained, while seven declined and six remained flat.

Data compiled by the financial website vietstock.vn showed that the Bank for Foreign Trade of Việt Nam (VCB) was the biggest gainer, rising by 2.25 per cent and contributing nearly 2.8 points to the VN-Index.

It was followed by the Bank for Investment and Development of Việt Nam (BID), which increased by 2.61 per cent; Vinhomes JSC (VHM), which rose by 2.07 per cent; and Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG), which gained 1.68 per cent.

Some stocks faced mild selling pressure, which tempered the market’s gains. Viet Nam National Petroleum Group (PLX) fell by 1.88 per cent, Viet Nam Dairy Products Joint Stock Company (VNM) decreased by 0.53 per cent, and Fortune Vietnam Joint Stock Commercial Bank (LPB) declined by 0.95 per cent.

According to analysts from SHS Securities, the short-term trend of the VN-Index still faces pressure to test the lower boundary around 1,250 points, corresponding to the low points of the sharp declines in April, May, June, and July of 2024, along with the pressure from profit-taking after last week’s high-liquidity session. In a positive scenario, the short-term trend of the VN-Index may continue to consolidate within a broad range of 1,250-1,300 points.

Meanwhile, on the Hà Nội Stock Exchange (HNX), the HNX-Index also finished higher on Tuesday, rising by 0.55 per cent to 237.31 points.

During the trading day, nearly VNĐ1.4 trillion worth of shares, equivalent to a trading volume of over 73 million shares, were traded on the northern market.

Foreign investors returned to their net-buying pattern, with a net purchase of VNĐ327 billion on HoSE. — VNS