HANOI — The Ho Chi Minh Stock Exchange witnessed a notable uplift in the VN-Index on Friday, marking an end to a three-day downward trend. The index increased by 0.45 percent, closing the trading day at 1,175.67 points. This turnaround follows a cumulative decline of 1.05 percent over the previous sessions, signaling a moment of optimism for investors.
Trading activity on the southern bourse was robust, with over 575 million shares changing hands, amounting to a total value of VNĐ12.9 trillion (US$524 million). The market dynamics showed a healthy competition, with 253 stocks advancing against 193 decliners, and 129 remaining unchanged.
This positive shift was largely driven by the performance of several prominent large-cap stocks, which have historically been market movers due to their significant market capitalization and liquidity. The VN30-Index, which tracks these large-cap stocks, paralleled the general market’s performance by also rising 0.45 percent to 1,182.82 points. Among these, 19 stocks saw appreciable gains, indicating a broad-based recovery.
Banking sector stocks played a pivotal role in the market’s rebound, with notable gains observed in shares of Tiên Phong Bank (TPB), Vietcombank (VCB), VPBank (VPB), among others. This sector’s recovery is significant as it reflects growing investor confidence in financial institutions, which are often seen as barometers of the broader economy.
Similarly, the oil and gas sector contributed to the day’s positive momentum, with companies like PetroVietnam Technical Services Corporation (PVS) and PetroVietnam Drilling and Well Services (PVD) experiencing upticks in their stock prices. This interest in oil and gas stocks aligns with global energy market trends and underscores the sector’s importance to Vietnam’s economy.
On the northern front, the Hanoi Stock Exchange also reported gains, with the HNX-Index up by 0.40 percent to close at 229.43 points. The trading volume here reached over 59.5 million shares, valued at VNĐ910 billion, highlighting the sustained interest in the northern market.
Diverse sectors including information and technology, securities, agriculture, construction, and food and beverage led the performance charts, reflecting a wide array of investor interests and the multifaceted nature of Vietnam’s growing economy.
The day’s trading session not only marked a recovery from recent losses but also showcased the resilience of Vietnam’s stock market amidst fluctuating global and domestic economic indicators. As investors and market analysts look forward to more stable and optimistic market conditions, the recovery of key stock groups continues to play a crucial role in shaping market sentiment and investment strategies moving forward.
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