VIN group stocks "rescue" VN-Index

VIN group stocks "rescue" VN-Index

The stock market started the new week on December 11th on an optimistic note, with green dominating the electronic trading board. However, selling pressure quickly emerged. Just one hour after opening, the VN-Index briefly turned red. As midday approached, selling pressure intensified, causing the VN-Index to reverse and decline. The downward trend continued until just before the ATC (After-Trading Closing) period.

However, from 2 PM onwards, the VN-Index unexpectedly regained its positive momentum. At the close of the December 11th trading session, the VN-Index rose 1.06 points, or 0.09%, to 1,125.5 points; the VN30-Index increased 2.45 points, or 0.22%, to 1,117.34 points.

The blue-chip stocks that contributed most to "rescuing" the VN-Index during the December 11th trading session were the three VIN group stocks: VHM, VIC, and VRE.

VN Index stock rescue — Thanks to a sharp increase at the end of the session, the trio of VIN group stocks – VIC, VHM, and VRE – surged strongly, helping the VN-Index avoid a "red" session. (Illustrative image)

Notably, throughout the December 11th trading session, VHM, VIC, and VRE did not experience any price declines. By the end of the session, all three stocks extended their gains, helping the VN-Index weather the storm. At the close of the first trading session of the week, VHM rose 1,350 VND/share, equivalent to 3.4%, to 41,000 VND/share; VIC increased 1,100 VND/share, equivalent to 2.56%, to 44,050 VND/share; and VRE gained 300 VND/share, equivalent to 1.28%, to 23,650 VND/share.

Shares of the VIN group of companies received significant investor attention after Reuters reported that the American chip giant Nvidia would discuss semiconductor cooperation agreements with Vietnamese technology companies and the government at a meeting on December 11th in Hanoi.FPT , Vingroup, and Viettel were the three Vietnamese representatives attending this meeting.

Notably, while overall liquidity on the Ho Chi Minh City Stock Exchange decreased sharply to only 14,651 billion VND, VIC's liquidity increased significantly. VIC's trading volume reached 5.1 million units, up from 2.4 million units on Friday. This indicates very high investor demand for VIC shares.

Stock market on December 11th showed mixed performance, with some stocks rising while others fell.

In the December 11th trading session, the VN-Index rose primarily driven by VHM, VIC, and VRE, resulting in a "green on the outside, red on the inside" scenario. This means that while the overall market gained points, the number of declining stocks outnumbered the rising ones.

On the Ho Chi Minh City stock exchange, 302 stocks declined, 76 remained unchanged, and 215 increased. Of the 215 gainers, 7 closed the first trading session of the week in the purple (indicating a significant price increase), most notably HAG of Hoang Anh Gia Lai Group.

At the close of trading on December 11th, HAG shares hit the ceiling price, rising by 850 VND/share to 13,000 VND/share. Since the end of November, HAG has regained its par value after a long period of trading below 10,000 VND/share.

HAG's share price has surged since ThaiGroup invested in Hoang Anh Gia Lai. Compared to November 23rd, the last trading day when HAG's share price was below 10,000 VND/share, the stock has increased by 3,200 VND/share, equivalent to 32.7%.

Another stock that was also the focus of the stock market on December 11th was DLG of Duc Long Gia Lai Group Joint Stock Company. DLG hit its ceiling price, increasing by 160 VND/share, equivalent to 2,490 VND/share. Previously, in the last trading session of the previous week, DLG nearly hit its ceiling price.

DLG is being sought after by investors after the announcement that the decision to initiate bankruptcy proceedings against Duc Long Gia Lai Group has been cancelled.

On the Hanoi Stock Exchange, the indices also regained their positive momentum towards the end of the trading session. At the close of trading on December 11th, the HNX-Index rose 0.17 points, or 0.07%, to 231.37 points; the HNX30-Index increased 4.57 points, or 0.92%, to 500.87 points.

Liquidity on the Hanoi Stock Exchange also remained low, with only 78.5 million shares, equivalent to 1,548 billion VND, successfully traded.

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