Steel stocks surge.

Hoa Phat shares had the highest liquidity in the market, while Hoa Sen and Nam Kim also turned purple, becoming the stocks supporting the market today.

Steel sector stocks surged sharply in the late afternoon. HPG saw continuous trading activity, closing the session up 4.3% at 29,000 VND. Hoa Phat Group's stock became the most actively traded stock on the market today, reaching nearly 1,500 billion VND in trading volume. According to VNDirect, HPG contributed the most to the increase in the VN-Index.

The two remaining leading stocks in the steel sector, HSG and NKG, both increased to their maximum allowed limit. HSG's trading volume reached nearly 500 billion VND, while NKG saw transactions exceeding 420 billion VND. The steel group also saw VGS turn purple (indicating a significant price increase) with relatively high trading volume.

In addition, many steel and materials stocks surged, with many accumulating more than 4% above the reference price. Materials became the sector with the highest-performing index today.

Stocks in this sector surged after news broke that the "mega-project" Long Thanh airport terminal had commenced construction, with the government tasking all parties with resolutely pursuing the goal of completing it on schedule. Regarding the steel industry, while selling prices remain low, a bright spot is the nearly 20% increase in steel exports from the beginning of the year to August 15th compared to the same period last year.

Along with the strong surge in steel stocks in the latter half of the afternoon, the VN-Index also managed to improve after several fluctuations today. At the opening, the index representing the Ho Chi Minh City exchange rose for a few minutes, then fell below the reference level. Afterward, the index was pulled back up, but the increase was lower than in previous sessions.

Late in the morning, the VN-Index turned red again and remained so until early afternoon. After a brief fluctuation, the index recovered and closed at 1,245.5 points, up more than 10.5 points, extending its six-session winning streak.

On the HoSE exchange, 356 stocks rose, more than double the 145 stocks that fell. Besides raw materials, the financial sector also contributed significantly to the market's upward momentum.

Liquidity on the HoSE exchange reached over 25,200 billion VND, an increase of nearly 1,200 billion VND compared to the previous session. Capital flows were mainly concentrated in the financial, real estate, industrial, and raw materials sectors.

Foreign investors continued to be net sellers today, with a net selling volume exceeding 100 billion VND. HDG, SSI, HPG, and STB were the stocks with the highest selling pressure from this group.

Thu Ha (According to vnexpress.net, September 6, 2023)

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