The trading session on July 11th not only marked the eighth consecutive day of gains for the VN-Index but also showed a breakthrough for a number of stock groups within the VN30 basket (large-cap stocks).
The VN-Index closed at 1,457.76 points, up 12.12 points from the previous session, extending its winning streak much to the surprise of many investors. In just about three months, the stock market has recovered in a V-shaped pattern, rising by approximately 35% – surging from around 1,076 points to surpass 1,450 points today.
VN30 group outperformed other stocks in trading.
Most surprisingly, the VN30 index rose nearly 25 points today, approaching the 1,600-point mark. This is the highest level in the index's history, far surpassing the overall market and exceeding the peak reached in November 2021.
In recent sessions, capital flows have concentrated on large-cap stocks (blue-chip stocks), causing the point difference between the VN30 and VN-Index to widen. A series of stocks in the VN30 basket have seen explosive trading activity, such as VIC, VHM, SSI, HPG, MBB, VRE…
Foreign capital is flowing in strongly despite the Vietnamese stock market reaching its highest level in over three years, with the VN-Index hitting a historical peak and the VN30 reaching an all-time high.
Since the beginning of July alone, foreign investors have net bought over 10,000 billion VND on the HoSE exchange. The buying pressure has been rapid and strong, with values reaching thousands of billions of VND per trading session.
Stock markets have been surging in recent days.
SHS Securities Company noted that the VN30 index experienced a significant surge, surpassing its historical high of around 1,587 points in November 2021. This positive impact was partly due to VHM and VIC shares, which saw strong price increases, heading towards their 2021 historical peaks of 90,000 VND for VHM and 120,000-130,000 VND for VIC, respectively. The market remains in an upward trend, with short-term opportunities in stocks where foreign investors have been actively buying net.
Commenting on the strong inflow of foreign capital into the market, Mr. Nguyen Thanh Lam - Director of the Research and Analysis Department, Individual Client Division, Maybank Securities Company - believes that there are several indications that P-Notes (a type of derivative financial instrument known as institutional investment participation certificates) are making a significant contribution to foreign buying power. P-Notes are characterized by aggressive trading and often focus on large-cap, highly liquid stocks.
The VN-Index has increased by 35% in just the past 3 months.
According to SHS Securities' strategic report for the first half of 2025, at current prices, the total market capitalization is approximately $325 billion, equivalent to 68% of 2024 GDP. The VN-Index is heading towards its highest prices of 2021 and 2022, reaching historical peaks. Investors should prioritize holding positions based on the trend, monitoring selling pressure at high prices, and considering realizing partial profits if possible.
In its "ASEAN Equity Strategy" report, JP Morgan suggests that allowing foreign investors to trade without a 100% margin deposit in November 2024 and upgrading the KRX trading system have increased the likelihood of Vietnam being upgraded to emerging market status by FTSE in the September 2025 review.
The upgrade could attract over $500 million in passive capital into the market and improve investor sentiment. The organization also forecasts the VN-Index to reach 1,500 points in the base scenario and 1,600 points in the optimistic scenario by the end of this year.
Source: https://nld.com.vn/nhom-co-phieu-nao-keo-vn30-pha-dinh-lich-su-196250711181833258.htm
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