Vietnam stocks increase the most in Asia in today's session

VN-Index closed at 1,260 points, making Vietnam the strongest growing stock market in Asia on International Day of Happiness, March 20.

The market ended the mid-week session, International Day of Happiness, with a surge of more than 17.6 points, equivalent to 1.42% increase, reaching 1,260.08 points.

HNX increased by 1.87 points to 238.03 points, only UPCoM decreased slightly by 0.06 points to 90.54 points. Green dominated the market.

Liquidity reached a high of over VND20 billion on the HOSE floor, but compared to the previous week's sessions of about VND23,000 - 25,000 billion, this liquidity level is still expected by many investors to increase further.

This positive development is considered a recovery of VN-Index after the first two sessions of the week with a shocking drop of more than 20 points.

Chứng khoán Việt Nam tăng mạnh nhất châu Á trong phiên hôm nay- Ảnh 1. — "Green" covers the market on International Day of Happiness

In particular, with the 1.42% increase of VN-Index, the Vietnamese stock market is the market with the strongest index increase in Asia today (March 20).

The banking group became the center of attention when catching the positive wave, leading the market's recovery with 8/15 banking stocks belonging to the group having a strong positive influence on the VN-Index.

Leading the way is TCB (Techcombank, HOSE) with a nearly 5% increase in market value, contributing 2.83 points of increase. Next are MBB (MBBank, HOSE), VPB (VPBank, HOSE), ACB (ACB, HOSE), LPB (LPBank, HOSE), STB (Sacombank, HOSE),...

Chứng khoán Việt Nam tăng mạnh nhất châu Á trong phiên hôm nay- Ảnh 2. — Banking group performed positively, contributing to the market's growth today (Source: SSI iBoard)

Notably, VIB increased by 6.8% to VND23,600/share. In the context that most banking stocks have been under profit-taking pressure since the previous weeks, VIB has become a rare stock that has maintained a long-term increase since the end of last year, up to now the increase has been more than 29%.

Chứng khoán Việt Nam tăng mạnh nhất châu Á trong phiên hôm nay- Ảnh 3. — VIB shares have fallen sharply since the end of last year (Source: SSI iBoard)

In addition, VIB is the bank with the highest expected dividend in the system in 2023.

The strong increase to the ceiling price appeared right from the morning session, the strongest in the banking group with a huge trading volume of more than 16 million shares.

On the other hand, bank stocks: EIB (Eximbank, HOSE). This development is in the context of the scandal of credit card debt from 8.5 million VND to 8.8 billion VND of Eximbank customers. The State Bank has asked Eximbank to explain and respond to public opinion about this incident.

In addition to the banking group, the securities, steel, retail and technology groups also contributed strongly to the increase of the VN-Index: MWG (Mobile World, HOSE), FPT (FPT, HOSE), SSI (Securities, HOSE), HPG (Hoa Phat Steel, HOSE),...

However, there is still a not-so-positive factor that investors are concerned about. On March 20, the stock market continued to witness strong net selling from foreign investors, reaching more than VND 570 billion on 3 floors. Thus, on the HOSE floor alone, foreign investors have net sold more than VND 8,300 billion since the beginning of 2024.

Although it did not affect the market too much, the continuous sell-off also made investors pay attention, somewhat affecting negative sentiment.

Source