Vingroup shares and the impact of lawsuits against 68 organizations and individuals on the market

(NLDO) - The stock market experienced a remarkable recovery session after the previous short correction, in which Vingroup stocks played a key role.

The trading session on September 9th closed with widespread gains across the market, with the VN-Index rising 12.79 points, or 0.79%, to close at 1,637.32 points. This was a notable recovery after a brief correction earlier, with Vingroup -related stocks continuing to play a key role in leading investor sentiment.

Vingroup's share price surged.

From the start of the morning session, strong capital flows concentrated on the trio of VIC, VHM, and VRE, helping the index maintain its upward momentum. By early afternoon, VIC had risen 2.4% to 128,000 VND/unit, VHM increased 0.8% to 100,800 VND/unit, and VRE also edged up 0.3% to 33,000 VND/unit.

By the end of the session, the upward momentum of stocks continued to expand, with VIC surging 4.2% to 129,200 VND/share, with trading volume reaching nearly 2.66 million units. This was an impressive gain for the leading stock, significantly contributing to the VN-Index maintaining its upward trend.

VHM also surged 1.4% to VND 101,400/share, with over 2.85 million units traded, further consolidating its position in the large-cap real estate group. Despite short-term profit-taking pressure, VRE held firm at VND 30,300/share, recording a slight increase of 0.5%, with nearly 3 million shares traded, indicating continued bargain hunting.

This positive outlook stems not only from expectations regarding business prospects but also from strong supporting information from the parent company.

Vingroup stocks played a leading role in the market recovery on September 9th. (Screenshot)

According to the latest announcement, Vingroup has filed civil lawsuits against 68 organizations and individuals, both domestic and international, for spreading false and distorted information about the group, as well as about Mr. Pham Nhat Vuong, the group's chairman, and other leaders on social media platforms. This decisive move is expected to help protect the company's reputation and reassure investors amidst a surge of misleading information.

Besides legal factors, VIC shares and other related stocks also received a boost from positive information regarding the assets of the Chairman of Vingroup. According to Forbes, Mr. Pham Nhat Vuong's assets reached $12.9 billion, an increase of $152 million in just one day, continuing to hold the position of the richest person in Vietnam and ranking 219th on the list of the world's billionaires.

Since the beginning of the year, his net worth has also increased significantly thanks to the surge in Vingroup's stock prices. VIC and VHM are now approaching their highest prices in the past three years, while VPL – Vinpearl's newly listed stock since May – has also had a positive effect on overall sentiment.

Many stocks are performing well.

Not only Vingroup, but also many other sectors saw capital flows today. SSI, VIX, VPB, and MWG recorded good gains, further supporting the VN-Index. Conversely, some bank stocks like VCB and LPB, and GAS in the oil and gas sector, experienced slight declines, but not enough to overshadow the positive trend. Market liquidity remained high at over 31,600 billion VND, indicating that investor confidence is gradually returning.

It is evident that the strong performance of Vingroup stocks has further boosted the VN-Index's upward trend, becoming a crucial support in the market's recovery. With supportive information regarding both the company and its leadership, this group of stocks is likely to continue to be the focus of attention in the coming sessions, especially as the VN-Index aims to challenge higher resistance levels in the short term.

Source: https://nld.com.vn/nhom-co-phieu-vingroup-tang-vot-after-information-of-suing-68-organizations-and-individuals-196250909154425555.htm