State-owned blue-chip stocks surge, VN-Index reaches new high.

Information about the restructuring of state capital triggered a strong surge in the banking, oil and gas, and insurance sectors, helping the VN-Index continue to reach new historical highs despite the market remaining highly polarized.

Strong capital inflows into state-owned stocks such as banks, oil and gas, and insurance have helped the VN-Index continue to conquer new historical highs.

The first trading session of the week (May 18th) witnessed a surprising comeback of state-owned enterprise stocks, which became a crucial driving force helping the VN-Index extend its winning streak and set a new historical closing high at 1,927.94 points.

At the close of trading, the VN-Index rose by more than 6 points, or 0.33%. Despite the index continuing to reach new highs, the market picture clearly showed a "green on the outside, red underneath" situation, with the number of declining stocks still overwhelmingly outnumbering the rising ones, with 364 stocks falling compared to 325 rising. Liquidity remained high, exceeding the 20-day average, with a trading value of over 26,400 billion VND.

The market's focus shifted to state-owned enterprises following news that the government had convened a meeting regarding the restructuring of state capital. Capital flows immediately reacted strongly, pushing a series of large-cap stocks such as VCB, BID, GAS, BSR , GVR, BVH, PLX… to surge.

In the banking sector, although only 8 out of 27 stocks increased in price, the largest-cap stocks played a highly effective role in "carrying the index". VCB surged 4.12%, BID broke through with a 5.47% increase, CTG rose 1.4%, while LPB also recorded a notable increase of 1.55%.

Notably, VCB saw explosive trading with liquidity exceeding 1,176 billion VND – the highest level in 14 sessions. In the afternoon session alone, this stock recorded a trading value of over 942 billion VND, nearly four times that of the morning. BID and CTG also maintained strong momentum towards the end of the session. The trio of state-owned banks, VCB, BID, and CTG, alone contributed more than 9 points to the VN-Index.

Not only banks, but the oil and gas sector continued to surge thanks to expectations related to state-owned enterprises. Petrolimex 's PLX stock hit its ceiling price of 45,150 VND/share and had no sellers at the end of the session. GAS increased by more than 4%, BSR added 5.3%, while OIL, POW and many other oil and gas stocks also rose by 4-10%.

According to analysts, the influx of capital into state-owned enterprises reflects the market's new expectations for the restructuring process, as well as the increasingly prominent role of large-scale enterprises in attracting investment capital.

Previously, the Chairwoman of the State Securities Commission, Vu Thi Chan Phuong, emphasized that listed state-owned enterprises play a very important role in the market, thanks to their large market capitalization, operations in key sectors, and their ability to create a "strong attraction" for domestic and foreign capital flows.

Besides banking and oil and gas, the finance and insurance sector also traded actively. BVH rose to its maximum limit of 71,700 VND/share, while many related stocks such as VTP increased by 4.8%, DPM by 4.3%, and BCM by 4.1%.

The securities sector also joined the upward trend, rising by an average of approximately 1.3%, with stocks like HCM, SHS, VIX, VND, and MBS attracting significant capital inflows.FPT continued to be a bright spot in the market, rising 2.74% with the highest trading volume in the entire market at 1,358 billion VND.

Conversely, downward pressure remained on the real estate sector. VIC and VHM exerted significant pressure on the index. VHM fell 2.53% after strong profit-taking pressure immediately following the T+ trading period; VIC lost 1.32%, while MWG plummeted 3.66%. These three stocks subtracted approximately 9 points from the VN-Index, partially offsetting the gains from the leading stocks.

Foreign investors continued their strong net selling trend, with a volume of approximately 680 billion VND. Selling pressure was concentrated on ACB, HPG, and VHM. However, on the buying side, foreign investors still made significant disbursements into several bank stocks such as VCB, MSB, and HDB.

Although market breadth is not yet truly positive, investors believe that the ability of capital to "rotate" is becoming an important psychological support. When the real estate sector weakens, capital quickly shifts to banking, oil and gas, and state-owned enterprises to maintain the stability of the index.

Trading volume on both exchanges increased by 16.6% compared to the previous session, reaching over 25,468 billion VND, indicating that capital remains strongly active in the market. While the rotation of key stocks hasn't yet created a significant breakthrough for the VN-Index, it's enough to maintain the upward momentum and expand opportunities for short-term investors to continue seeking profits in stock groups with their own supporting narratives.

Source: https://thoibaonganhang.vn/bluechips-von-nha-nuoc-bung-no-vn-index-len-dinh-cao-moi-182146.html