PDR surges to its ceiling price, liquidity reaches high levels.

On May 26th, the market experienced a tug-of-war, with the VN-Index slightly declining under pressure from large-cap stocks.

Against this backdrop, PDR shares of Phat Dat Real Estate Development Joint Stock Company surged to the ceiling price with trading volume among the highest in the market.

On the Ho Chi Minh City stock exchange, at the close of trading, PDR shares reached their upper limit at 16,950 VND per share. Trading volume reached nearly 640 billion VND, ranking third in the entire market.

PDR hit its upper limit on May 26th. (Screenshot)

PDR surged after news that Phat Dat Real Estate Development Joint Stock Company and Lotte Properties HCMC Co., Ltd. - a subsidiary of Lotte Group - signed a memorandum of cooperation related to the Thu Thiem Eco Smart City project in Ho Chi Minh City.

The Thu Thiem Eco Smart City project, located in functional area 2A (now An Khanh ward, Ho Chi Minh City), was proposed in 1997 with an investment of over 20,100 billion VND. The project was planned as a complex comprising a financial center, service facilities, and a multi-functional residential area.

Today's market was under downward pressure mainly due to heavy selling of blue-chip stocks, especially the Vin group. VIC fell 2.7%, subtracting 9.3 points from the VN-Index; followed by VHM with a negative impact of 4.16 points. Therefore, the real estate sector saw the sharpest decline in the market.

Besides the Vin group, many large-cap stocks such as GEE, SAB, STB, VJC, BVH, HCM, MSN, and MWG also put pressure on the market.

Therefore, despite the overwhelming number of rising stocks (199 gainers compared to 116 losers), the VN-Index still closed in the red.

Conversely, the banking sector significantly supported the index. Seven bank stocks were among the top 10 most positive contributors, including TCB, CTG, BID, VPB, MBB, VCB, andACB , providing support ranging from 0.54 to 1.44 points.

At the close of trading, the VN-Index stood at 1,884.18 points, down 1.85 points (-0.1%). Meanwhile, the VN30-Index rose 6.18 points (0.31%) to 2,027.9 points.

Liquidity remained low with nearly 20 trillion VND traded, reflecting the cautious sentiment of investors.

Foreign investors continued to be net sellers, buying nearly 1,600 billion VND but selling over 2,536 billion VND.

On the Hanoi Stock Exchange, the HNX-Index closed at 278.15 points, up 6.35 points (2.34%). The HNX30-Index rose 7.83 points (1.51%) to 526.25 points. Total trading volume on the exchange reached over 1,440 billion VND.

Source: https://hanoimoi.vn/pdr-tang-kich-tran-thanh-khoan-dat-muc-cao-972171.html