HNX30-Index sees strongest gains in Asia.

Stock market update August 24th: VN-Index sees second-highest surge in Asia.

The stock market on August 24th witnessed a tug-of-war right from the start of the session. However, the VN-Index only traded in the red for a short period. For most of the time, the electronic trading board was dominated by green.

Towards the end of the trading session on August 24th, the influx of capital increased significantly, causing the VN-Index to surge and record the second-highest growth rate in Asia, only surpassed by the Hang Seng index of the Hong Kong market.

At the close of trading on August 24th, the VN-Index rose 16.83 points, or 1.44%, to 1,189.39 points. The VN-Index has yet to regain the 1,200-point mark. The VN30-Index increased 18.91 points, or 1.6%, to 1,201.88 points.

Liquidity on the August 14th stock market session improved but remained lower than recent sessions. The entire Ho Chi Minh City exchange recorded 852 million shares, equivalent to VND 18,492 billion, successfully traded. The VN30 group saw 207 million shares, equivalent to VND 7,036 billion, transferred.

Stock market 24/8 HNX30 index rises strongest in Asia (Figure 1) — During the August 24th trading session, the HNX-Index and HNX30-Index recorded the strongest gains in Asia, surpassing even Hong Kong's Hang Seng index. (Illustrative image)

On August 24th, the Ho Chi Minh City stock exchange recorded 400 gainers (14 hitting the ceiling price), 50 unchanged stocks, and 107 losers. The VN30 group had 26 gainers, 1 unchanged stock, and 3 losers.

A few blue-chip stocks made a timely turnaround, helping the VN-Index avoid a session of deep declines. At the beginning of the session, Vietnam Bank's VCB shares fell slightly to 86,000 VND/share. However, by the end of the trading session on August 24th, VCB had risen by 700 VND/share, equivalent to 0.8%, to 87,000 VND/share.

Another bank stock that attracted attention during the August 24th trading session was Techcombank 's TCB. Recently, Techcombank announced that the daughter of its Chairman, Ho Hung Anh, intends to purchase over 82 million Techcombank shares, worth approximately 2,700 billion VND. This information helped TCB surge since yesterday.

At the close of trading on August 24th, TCB continued its upward trend, rising 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 in the August 24th stock market session after the State Bank of Vietnam announced the suspension of the "lending ban" regulation in Circular 06.

On the Hanoi Stock Exchange, the indices rose sharply. At the close of trading on August 24th, the HNX-Index increased by 5.16 points, or 2.17%, to 243.23 points; the HNX30-Index increased by 18.7 points, or 3.88%, to 500.39 points.

Asian and European stocks surged.

Stock markets in the Asia -Pacific region rose significantly on August 24th, led by Hong Kong stocks.

The South Korean central bank kept interest rates unchanged at 3.5%, while Indonesia is expected to maintain its benchmark policy interest rate at 5.75%.

South Korea's producer price index (PPI) rose 0.2% year-on-year, marking the 13th consecutive month of slowing PPI growth.

Investors will also be assessing the earnings of chipmaker Nvidia, which will be released early Thursday. The company had a better-than-expected second-quarter 2023 financial report and promises more optimism for the current period.

Hong Kong's Hang Seng index led gains in the region, rising 2.06%, while mainland China markets also rose, with the CSI 300 gaining 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 indices saw their fourth consecutive day of gains.

In Australia, the S&P/ASX 200 rose 0.47% to close at 7,182.1, marking a three-day winning streak.

South Korea's Kospi recovered and closed 1.28% higher at 2,537.68, and the Kosdaq rose 2.14%, closing at 901.74.

On Wednesday in the U.S., all three major indexes rose, with the Dow Jones Industrial Average closing up 0.5%. The S&P 500 gained 1.1%, recording its best daily performance since June 30, while the technology-heavy Nasdaq Composite rose 1.6%, marking its third consecutive day of gains.

The pan-European Stoxx 600 index also rose 0.9% in early trading, with technology stocks leading the gains with a 1.9% increase as all sectors and major markets opened in positive territory.

European blue-chip indices closed 0.4% higher on Wednesday, even as eurozone purchasing managers' index figures fell far short of expectations and services activity slipped.

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