Stocks 8/24: VN-Index has the second strongest increase in Asia
The stock market on August 24 witnessed a tug-of-war right from the beginning of the session. However, the VN-Index only had a short period of trading in red. For the rest, green covered the electronic trading board.
Towards the end of the August 24 stock market session, more and more money flowed in, causing the VN-Index to increase sharply and record the second strongest growth rate in Asia, just after the Hang Seng index of the Hong Kong market.
At the close of the August 24 stock market session, the VN-Index increased by 16.83 points, equivalent to 1.44%, to 1,189.39 points. The VN-Index has yet to regain the 1,200-point mark. The VN30-Index increased by 18.91 points, equivalent to 1.6%, to 1,201.88 points.
The liquidity of the August 14 stock market session improved but was still lower than recent sessions. The entire Ho Chi Minh City Stock Exchange recorded 852 million shares, equivalent to VND18,492 billion, successfully traded. The VN30 group had 207 million shares, equivalent to VND7,036 billion, transferred.
In the stock market session on August 24, the HNX-Index and HNX30-Index had the strongest growth rate in Asia, higher than Hong Kong's Hang Seng Index. Illustrative photo
The stock market session on August 24 recorded 400 stocks on the Ho Chi Minh City Stock Exchange increasing in price (14 stocks hitting the ceiling), 50 stocks remaining unchanged and 107 stocks decreasing in price. The VN30 group had 26 stocks increasing in price, 1 stock remaining unchanged and 3 stocks decreasing in price.
Some blue-chips “turned around” in time, helping the VN-Index escape a session of deep red. At the beginning of the session, Vietnambank’s VCB shares fell slightly to VND86,000/share. But by the end of the August 24 session, VCB increased by VND700/share, equivalent to 0.8% to VND87,000/share.
Another banking stock that also received attention in the August 24 stock market session was Techcombank 's TCB. Recently, Techcombank announced that the daughter of Chairman Ho Hung Anh wanted to buy more than 82 million Techcombank shares, worth about VND2,700 billion. This information helped TCB increase sharply since yesterday.
Closing the stock session on August 24, TCB continued to rise by 600 VND/share, equivalent to 1.8% to 33,800 VND/share.
In addition, real estate stocks were also one of the brightest spots of the August 24 stock market session after the State Bank announced the suspension of the "loan ban" regulation in Circular 06.
On the Hanoi Stock Exchange, the indices increased sharply. At the close of the August 24 stock market session, the HNX-Index increased by 5.16 points, equivalent to 2.17%, to 243.23 points; the HNX30-Index increased by 18.7 points, equivalent to 3.88%, to 500.39 points.
Asian and European stocks surge
Stock markets in Asia- Pacific rose significantly on August 24, with Hong Kong stocks leading the way.
South Korea's central bank kept its interest rate unchanged at 3.5 percent, while Indonesia is expected to keep its benchmark policy rate unchanged at 5.75 percent.
South Korea's producer price index rose 0.2 percent year-on-year in April, the 13th consecutive month of slowing PPI growth.
Investors will also be looking at chipmaker Nvidia’s earnings, due early Thursday, which reported better-than-expected second-quarter 2023 financial results and offered optimism for the current period.
Hong Kong's Hang Seng Index led regional gains, rising 2.06%, while mainland China markets also rose, with the CSI 300 up 0.78%.
Japan's Nikkei 225 rose 0.87% to close at 32,287.21, while the Topix gained 0.43% to end at 2,286.59 on Thursday. Both indexes saw their fourth straight day of gains.
In Australia, the S&P/ASX 200 rose 0.47% to end at 7,182.1, snapping a three-day winning streak.
South Korea's Kospi recovered and closed 1.28% higher at 2,537.68 and the Kosdaq gained 2.14% to close at 901.74.
On Wednesday, in the US, all three major indexes rose, with the Dow Jones Industrial Average closing up 0.5%. The S&P 500 rose 1.1% and posted its best daily performance since June 30, while the tech-heavy Nasdaq Composite rose 1.6%, in its third straight day of gains.
The pan-European Stoxx 600 index also rose 0.9% in early trade, with tech stocks up 1.9% leading the gains as all major sectors and markets opened in positive territory.
European blue chips closed up 0.4% on Wednesday even as euro zone purchasing managers' index data came in well below expectations and services activity slipped.
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