June 24 (Vietnam Insider) – The Vietnamese stock market continued its bullish momentum today, with the VN-Index surging to nearly 1,367 points, marking its highest level since April 2022, driven by strong gains in Vingroup and Vinhomes shares.
Since early May, the benchmark index of the Ho Chi Minh City Stock Exchange (HOSE) has repeatedly reached new three-year highs. Monday’s rally to 1,358 points was quickly surpassed in today’s session, as market sentiment remains highly optimistic. Analysts believe that the VN-Index could soon conquer the 1,360–1,370 range, potentially setting new short-term records.
Strong Opening Despite Oil Sector Drag
The VN-Index opened sharply higher despite a downturn in oil and gas stocks, which were weighed down by falling global crude prices as tensions in the Middle East eased. At one point, the index added 13 points to surpass 1,370, before paring gains to close at 1,367, up 8 points from the reference price.
Vingroup Stocks Lead the Rally
Vingroup-affiliated stocks were the primary driver of the rally, contributing 6 points to the index’s overall gain. VIC(Vingroup) rose 3.2% to VND 95,800, while VHM (Vinhomes) jumped 4.5% to VND 77,300. Other stocks in the group, such as VRE and VPL, also posted gains, though less than 1%.
Securities and Real Estate Stocks Also Surge
The securities sector recorded broad-based gains, with all listed stocks (except TVB) closing above reference prices. VNDirect (VND) led the group, climbing 6.3%, followed by VIX, HCM, and SSI, which rose between 2–3%.
Real estate stocks performed similarly, with many advancing more than 2%. Besides VHM, LDG and DXG stood out with increases of 3.7% and 3%, respectively.
Mixed Performance in Banking; Oil & Gas Slide
Banking stocks showed divergent trends, with only four – EIB, NAB, ABB, and KLB – gaining more than 1%. Leading names like VCB, BID, CTG, and TCB mostly hovered around their reference prices with minimal change.
On the downside, oil, fertilizer, and shipping stocks declined, with the oil & gas sector hit hardest by falling crude prices. Large-cap names like GAS and PLX dropped 4.8% and 5.3%, respectively, while mid- and small-cap stocks such as PVT, BSR, PVD, and PVS also lost more than 4%.
Liquidity Surges, Foreign Investors Return
One of the most positive signals of the session was the significant increase in trading liquidity. Over 971 million shares changed hands on the Ho Chi Minh City exchange, with a total value of VND 25.6 trillion, up VND 4 trillionfrom the previous session. Both SSI and GEX recorded over VND 1 trillion in trading value, outperforming other high-liquidity stocks like TCB, VPB, VND, and VIX.
Foreign investors ended their four-session net selling streak, returning to the market with net purchases totaling VND 2.9 trillion, up VND 1.2 trillion from the previous day. VND attracted the highest foreign demand, with nearly 13 million shares bought net. SSI followed with 6.2 million shares, then HPG, DGW, and VPB.
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Source: Vietnam Insider