Asia engulfed in flames, but the VN-Index remains in positive territory.

Công Luận•21/06/2023

VN-Index rose to the floor price, liquidity remained high.

Stock markets on June 21st showed more optimism with early gains. Money flow is gradually increasing but remains significantly lower than the billion-dollar trading volume. Nevertheless, high liquidity continues to support the market.

At the close of trading on June 21, the VN-Index rose 6.74 points, or 0.61%, to 1,118.46 points; the VN30-Index rose 7.8 points, or 0.71%, to 1,112.07 points. It is evident that blue-chip stocks continued their upward trend more strongly than the overall market.

Across the entire exchange, 323 stocks increased in price (14 of which hit the ceiling price), 55 stocks remained unchanged, and 108 stocks decreased in price.

Liquidity on the June 21st trading session remained high, with 876 million shares, equivalent to VND 17,520 billion, successfully traded. Investors continued to favor penny and midcap stocks, so the trading volume of the VN30 group only reached 219 million shares, equivalent to VND 5,816 billion.

Asian stock markets are engulfed in flames, the VN index remains green (Figure 1). — Stock markets on June 21st witnessed a "sea of fire" across Asia, but the VN-Index remained in positive territory with high trading volume. (Illustrative image)

Hoa Phat Group's HPG shares continued to heat up, contributing significantly to the stock market maintaining its positive performance on June 21st. At the close of trading, HPG rose 950 VND/share, equivalent to 4%, to 24,600 VND/share.

In addition, several other blue-chip stocks also contributed to the positive performance of the June 21st trading session, including GVR (up 700 VND/share, equivalent to 3.7%, to 19,500 VND/share), MSN (up 900 VND/share, equivalent to 1.2%, to 76,100 VND/share), SSI (up 300 VND/share to 26,000 VND/share),…

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On the Hanoi Stock Exchange, the indices rose even more sharply. At the close of trading on June 21st, the HNX-Index increased by 3 points, or 1.31%, to 231.77 points; the HNX30-Index increased by 8.33 points, or 1.92%, to 442.62 points.

Asia engulfed in a "sea of fire".

Asia-Pacific markets mostly declined on Wednesday following sharp shifts in Wall Street stocks, with China 's two major indices losing ground amid slumps in the technology and other sectors.

Mainland Chinese markets were weaker, with the Shenzhen Component falling 2.18% to end the day at 11,058.63, dragged down by education and technology stocks and contributing to losses across the region. The Shanghai Composite also dropped 1.31%, closing at 3,197.9 and marking its third consecutive day of losses.

Hong Kong's Hang Seng index fell by about 2%, mainly due to losses in technology and healthcare stocks.

In Japan, the Nikkei 225 was the only major index to turn green, reversing earlier losses to rise 0.56%, along with the Topix, which gained 0.49%. The Nikkei closed at 33,575.14, while the Topix finished at 2,295.01.

In Australia, the S&P/ASX 200 fell 0.26%, marking a seven-day winning streak, ending the day at 7,314.9. South Korea's Kospi declined 0.7%, closing at 2,582.63, its third consecutive day of losses, and the Kosdaq closed down 1.21% at 875.7.

Overnight in the United States, all three major indices declined, with the Dow Jones Industrial Average falling 0.72% and the S&P 500 also down 0.72%. The Nasdaq Composite saw the smallest losses, declining only 0.16%.

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Against this backdrop, India has emerged as a prominent player in the Asian market. The Indian stock market reached an all-time high as investor sentiment remained optimistic.

India's BSE Sensex hit a record high on Wednesday, rising 0.15% from the start of trading to 63,442.83.

Similarly, the Nifty 50 also gained momentum and surpassed its previous high of 18,812.50 reached on December 1, 2022, and is currently at 18,829.15.

There is growing interest in investing in India as many investors seek to diversify away from China.

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