Vietnamese stocks rise after Israel-Iran ceasefire news, oil and gas group goes against the trend

The news of a ceasefire agreement between Israel and Iran has had a positive impact on the global financial market. The Vietnamese stock market is no exception, with green dominating the board and the index rising above 1,366 points.

VN-Index moves closer to the 1,400 point mark - Photo: QUANG DINH

Stocks rise, oil stocks plunge

On the morning of June 24, both Iranian and Israeli media simultaneously reported that the ceasefire between the two sides had come into effect. The Israeli government also officially confirmed its agreement with this agreement.

Positive news quickly spread to the stock market. At the end of this morning's session, VN-Index increased by more than 11 points despite the news that the USD price increased to the ceiling.

Significantly contributing to the market's growth were large-cap stocks such as VIC of Vingroup (+3.45%), VHM (+4.05%) of Vinhomes and banking groups such as VCB, BID, TCB...

Market liquidity recorded a clear improvement, increasing by more than 30% compared to the previous morning session and higher than the average of the last 5 sessions. Active buying power dominated.

In the afternoon session, the upward momentum was maintained when 15/19 secondary industry groups recorded increases. Of which, the securities and real estate groups led the market with increases of 2.7% and 2% respectively, attracting strong cash flows from both domestic and foreign investors.

Many prominent stocks in this group continued to record impressive increases: VIX (+3.6%), SSI (+2.5%), VND (+6%), FTS (+3%), VHM (+3.5%), NLG (+2%)... In addition, export stocks such as textiles and seafood also recorded strong active buying power, with many stocks in the top increasing sharply during the session.

In contrast to the optimistic picture of the general market, the group of oil and gas and chemical stocks was under strong correction pressure when world oil prices fell sharply due to cooling geopolitical expectations. This was the industry group that had the most negative impact on the market in today's session.

For example, the market price of Petrolimex's PLX "evaporated" nearly 5%, PV OIL's OIL (-8%), PV GAS's GAS (-4.7%), Binh Son Refining and Petrochemical's BSR (-4.5%)...

Red and blue (floor price) also drowned other oil and gas stocks such as PVS of Vietnam Oil and Gas Technical Services Corporation (-5.4%), PVD of Oil and Gas Drilling and Services Corporation (-5.7%), PVC (-10%), PVT (-4.45%)...

At the close of the session, VN-Index increased by nearly 9 points, reaching 1,366 points with liquidity exceeding 25,400 billion VND. Combined, the total transaction value of all three floors exceeded 28,400 billion VND.

There were a total of 437 stocks increasing in price today, counterbalancing more than 288 stocks decreasing in price. Foreign investors sold a slight net of nearly 150 billion VND.

Is Vietnamese stock valuation still attractive?

Mr. Tran Thang Long - Director of Analysis of BIDV Securities (BSC) - said that since the beginning of 2025, the Vietnamese stock market has recorded quite positive growth, among the outstanding groups in the region.

Except for a correction in early April when the market reacted unexpectedly to the US's proposal to impose retaliatory tariffs as high as 46%, the overall trend remains positive.

After the initial shock, market sentiment is gradually stabilizing as investors expect the negotiated tax rate to be adjusted down, possibly to only 15-25%. At the same time, instead of just looking at external factors, investors are starting to re-evaluate the internal strength of the Vietnamese economy, especially the macro factors and growth support policies that are in a relatively favorable phase.

A notable bright spot is that the trend of foreign capital withdrawal, which has lasted for the past two years, has slowed down significantly. Recently, foreign investors have continuously returned to net buying with large volumes, contributing to strengthening domestic investors' confidence in the market's recovery and growth trend.

In terms of valuation, the P/E ratio of the entire market is currently hovering around 13 times - significantly lower than Vietnam's long-term average (around 15 times).

Meanwhile, corporate profit growth in the first quarter remained positive. If the post-negotiation tariff scenario is only average, listed companies’ profits are expected to increase by about 14-15% this year.

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BINH KHANH

Source: https://tuoitre.vn/chung-khoan-viet-tang-sau-tin-ngung-ban-israel-iran-nhom-dau-khi-lai-nguoc-dong-20250624144512576.htm