Billionaire Pham Nhat Vuong's Vingroup (VIC) stock group continues to increase sharply and is the focus of the stock market in the early sessions of the new year, thereby pushing the VN-Index to continuously increase to high levels right now. the beginning of the Year of the Dragon.
At the end of the session on February 19, the trio of "Vin" stocks including Vingroup (VIC), Vinhomes (VHM) and Vincom Retail (VRE) simultaneously increased dramatically, thereby contributing to helping the VN-Index increase by 2. 3 points (+15,27%) to 1,26 points.
Cash flow into the stock market is quite strong, reaching more than 27.000 billion VND, including nearly 24,8 trillion VND (equivalent to more than 1 billion USD) on the Ho Chi Minh City Stock Exchange (HOSE).
This is a very positive development after the market recorded two price increases at the beginning of the new year, last week.
The highlight of the session on February 19 was the strong breakthrough of billionaire Pham Nhat Vuong's stock group, with two codes VIC and VRE hitting the ceiling, while Vinhomes increased sharply.
Specifically, Vingroup (VIC) stock increased by 7% to 47.000 VND/share with a large buying surplus. Foreign investors overwhelmingly bought VIC shares compared to the amount they sold, with a total net purchase of about 2,4 million VIC shares.
The same thing happened with Vincom Retail (VRE) stock. Foreign investors bought more than 7,1 million VRE shares, while selling just over 2,2 million units. VRE shares ended the session on February 19 with a ceiling increase of 2 VND/share.
While the banking stocks group differentiated, most other pillar stocks in the VN30 group increased, thereby helping the stock market go up quite steadily.
Large and small stocks on the stock market mostly performed positively in the context of cash flow into this investment channel showing signs of increasing when bank interest rates decreased on a large scale in the past year. Deposit interest rates are currently very low, only about 3-5%/year. Loan interest rates also began to decrease quite rapidly.
The market performed positively in the context of banks promoting credit into the economy and public investment being promoted quite quickly. Consumption demand and private investment also show clear signs of improvement. The real estate market shows signs of brightening again after a long period of quiet.
Vietnam's economy is forecast to continue to recover impressively in 2024, with GDP growth rate likely to reach the second highest level in the dynamic economic region of Southeast Asia.
Billionaire Pham Nhat Vuong's businesses simultaneously prospered
One of the driving forces that helped the VN-Index increase sharply in the last days of the year of the Cat and the beginning of the year of the Dragon is the group of "Vin" stocks.
Vingroup shares recorded their 6th consecutive increase to the highest level in the past 5 months.
The "Vin" stock group increased sharply in the context of Mr. Pham Nhat Vuong's businesses recording good business results in 2023. In addition, VinFast car company - Mr. Vuong's investment focus has made progress. Active in efforts to promote electric vehicle sales globally.
According to India's Deccan Herald, VinFast has been granted about 400 acres at an industrial park owned by the State Industrial Promotion Corporation of Tamil Nadu (SIPCOT) in Thoothukudi for its first factory in India.
This is a specific development after VinFast announced its plan to commit to investing 500 million USD for the first phase in India. The amount of investment in the country with a billion people and the world's leading fast-growing economy can reach 2 billion USD in the next 5 years.
Earlier this year, VinFast and the Tamil Nadu government signed a Memorandum of Understanding (MoU) to build a factory to produce electric cars and batteries for electric cars.
Targeting the Indian market and previously the US is considered a strong step but with good prospects for VinFast.
In the context of many changes in the world economy, Europe is getting older with countries like the UK and Germany struggling, while China is slowing down, the US is still quite stable and South Asia and Southeast Asia are emerging. strong.
According to S&P Global, the main growth driver in Asia - Pacific will shift from the world's second largest economy - China to South Asia and Southeast Asia. The Indian economy is expected to continue growing over the next three years, leading growth in the region. In 2, India will also surpass China to become the most populous country in the world. This is also a driving force for this country's economic growth.
Also according to new information announced by VinFast at the beginning of the new year, this car company introduced a range of right-hand drive electric cars at the Indonesia International Motor Show (IIMS) 2024 opening on February 15. VinFast has also signed a Letter of Intent to cooperate with the first 2 dealers to expand its distribution network in Indonesia. This is the way VinFast has sold cars in the US in recent times.
Domestically, billionaire Pham Nhat Vuong's business also recorded positive signals from the real estate segment. In 2023, Vingroup recorded a revenue increase of nearly 60% to nearly 162 trillion VND thanks to the handover of low-rise real estate at the Vinhomes Ocean Park 2 and Vinhomes Ocean Park 3 projects,... Vinhomes recorded a 12% increase in profit to more than 43 trillion VND. Vincom Retail recorded a nearly 59% increase in profit to more than 4,4 trillion VND.
Billionaire Pham Nhat Vuong's business also received large real estate projects such as in Long An with a total investment of several billion USD.
With 6 strong increases in VIC shares, billionaire Pham Nhat Vuong's assets also increased strongly. Compared to the trading session before Tet (February 7), as of February 2, according to Forbes, Mr. Vuong's assets have increased by 19 million USD, to 2 billion USD. According to Bloomberg, billionaire Vuong's assets reached more than 300 billion USD.
In addition to the breakthrough of many pillar stocks, the stock market was also supported by information about the possibility that the Korean technology trading system KRX is in the final stages of testing and will soon be put into operation. dynamic.
Recently, the Government and related agencies are trying to come up with solutions so that the Vietnamese stock market can soon be upgraded to an emerging market.
