Real estate stocks heat up.

HDC hit its ceiling price, DIG rose 3.6%, and several real estate stocks maintained their gains, while the VN-Index fluctuated below the reference level.

The VN-Index opened in the red for the first hour of trading this morning as selling pressure emerged early. After 10 am, the index fluctuated around the reference point but consistently remained above the 1,260 point mark.

In the afternoon, the market became more negative as the HoSE index broke through the aforementioned level, at one point falling close to 1,252 points. After 2:15 PM, the index improved with a 14-point increase in a few minutes. In the final minutes of the session, the VN-Index fell and closed at 1,263.8 points.

The number of rising and falling stocks was not significantly different, at 217 and 249 respectively. Sectors that attracted capital and accumulated well recently, such as media, technology, food and beverages, resources, and retail, faced significant profit-taking pressure.

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Real estate stocks were a major driver of the VN-Index's more than 5-point increase.Over 1.8 trillion VND in cash flow poured into real estate stocks, helping many stocks regain their positive momentum, with stocks owned by billionaire Pham Nhat Vuong, such as VIC and VHM, continuing to play a leading role. However, downward pressure remains.

Businesspeople collaborate with Ho Chi Minh City to develop a series of projects worth nearly $10 billion.Ho Chi Minh City has just commenced construction on 8 key projects with a total capital of over 253,033 billion VND, mobilizing diverse resources from public investment, PPPs, and private direct investment.

Techcombank increases capital for Techcom Life, propelling it to the leading group in the insurance industry.Techcombank has just approved a resolution to increase its capital contribution to Techcom Life by a maximum of 2,400 billion VND.

Real estate stocks continued to show signs of upward momentum today, with liquidity leading the market. In the morning, stocks like DXG, TCH, NVL, and PDR all maintained their gains. This sector largely supported the index throughout the morning.

Real estate stocks are heating up following a meeting between the Prime Minister and leading businesses to discuss monetary policy for 2024, aimed at alleviating difficulties in production and business. Tomorrow morning, government leaders will continue to chair a conference with localities to address difficulties and promote the implementation of social housing projects.

After several periods of volatility, only 6 stocks maintained their upward momentum. Among them, DIG closed the session 3.6% higher than the reference price, with a total trading value of nearly 2,000 billion VND, accounting for more than 7% of the entire HoSE exchange.

DXG and TCH both accumulated gains of over 1%. HDC, in particular, surged to its maximum limit from 10 am and maintained that level until the market closed.

Besides real estate, chemical and securities stocks also performed well. Some notable stocks in these two groups include GVR, FTS, and VCI.

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Liquidity in the Ho Chi Minh City market decreased by approximately 450 billion VND today, falling to over 27,500 billion VND. Foreign investors recorded their fourth consecutive net selling session, with a record high of over 1,300 billion VND – the highest level in the past three months. They focused on heavily selling off shares in HPG, VHM, and VND.

Tat Dat

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