“King” stocks return, VN-Index hits new peak

SGGPO August 7, 2023 15:59

With another trading session with liquidity of more than 1 billion USD, VN-Index had a trading session at the beginning of the week surpassing last week's peak, reaching 1,241.42 points - setting the highest peak since the beginning of 2023 until now, despite foreign investors net selling hundreds of billions of VND.

"King" stocks increase strongly, pulling VN-Index over 1,240 points

The Vietnamese stock market continued to increase strongly in the trading session of August 7-8 thanks to the continued abundant cash flow into the market. The "king" stocks (banks) attracted large cash flows, so most of the stocks in this group increased. The return of the "king" stocks contributed to pushing the VN-Index to a new peak in 2023. Specifically, many strong bank stocks such as: LPB increased to the ceiling, CTG increased by 5.16%, STB increased by 3.8%, VPB increased by 2.03%, SSB increased by 4.31%, TCB increased by 2.23%,VIB increased by 1.9%, MBB increased by 1.84%...

In addition, contributing to the VN-Index reaching its peak were large-cap stocks such as: VRE up 3.14%, VIC up 2.73%, GVR up 3.65%, VNM up 2.6%, MSN up 2.2%. In addition, the securities group also maintained a good growth momentum with VDS up to the ceiling, HCM up 3.3%, MBS up 2.242%, HHS up 3.87%, SSI up 1.71%...

At the end of the trading session, VN-Index increased by 15.44 points (1.26%) to 1,241.42 points with 342 stocks increasing, 129 stocks decreasing and 66 stocks remaining unchanged. At the end of the session at Hanoi Stock Exchange, HNX-Index also increased by 3.27 points (1.35%) to 245.68 points with 130 stocks increasing, 66 stocks decreasing and 71 stocks remaining unchanged. Market liquidity remained high with total trading value across the market reaching nearly 30,000 billion VND (equivalent to 1.3 billion USD).

In this trading session, in contrast to the excitement of domestic investors, foreign investors turned to net sell nearly 394 billion VND on the HOSE floor.

Source