VN-Index sets new record after stock market is upgraded

A series of green stocks brought the Vietnamese stock market to a new record in points.

After FTSE Russell officially announced the upgrading of Vietnam's stock market from Frontier Markets to Secondary Emerging Markets, a series of stocks increased sharply. On October 10, VN-Index continued to increase by 31.08 points, reaching 1,747.55 points and setting a new record in history. Meanwhile, HNX-Index decreased slightly by 1.32 points to 273.62 points.

Stock market boom brings VN-Index to set new record

PHOTO: DAO NGOC THACH

Leading the increase in this session were blue-chip stocks, in which two stocks belonging to Vingroup, VIC and VHM, unexpectedly hit the ceiling at the end of the session. VIC shares of Vingroup jumped to 192,000 VND and recorded a record price ever. Similarly, VHM shares of Vinhomes Joint Stock Company also turned purple to 123,000 VND. In addition, VRE of Vincom Retail Joint Stock Company also increased by 6.2% to 40,350 VND. In addition to the Vingroup group, other large stocks such as HPG, MSN,FPT ... also increased simultaneously.

In addition, the group of securities, real estate and industrial stocks also traded actively with demand concentrated on codes such as PDR, CEO, NVL, KBC, NLG, DIG, CII, VCG, VSC, GMD... Market liquidity decreased slightly compared to the previous session but still maintained at a high level when the HOSE floor had a value of nearly 34,000 billion VND and the Hanoi floor reached more than 2,241 billion VND. In particular, foreign investors continued to net sell nearly 740 billion VND on both floors.

Many organizations believe that the upgrade is a new driving force for the Vietnamese stock market. According to SSI Securities Company, the officially upgraded market is expected to attract about 1.6 billion USD in passive capital flows from ETF funds, not to mention a significantly larger amount of capital from active funds. This milestone not only reflects the potential to attract capital flows, but also marks Vietnam's new position on the global investment map. The stock market continues to have many positive changes with the driving force coming from domestic investors, currently accounting for more than 90% of transaction value, helping to offset the net withdrawal of foreign investors. Cash flow can pivot from groups with recovery stories to stocks with sustainable growth quality. The banking sector continues to play a core role, supported by an expected profit growth of over 17%. Meanwhile, the consumer goods group is expected to recover thanks to improvements in disposable income and support policies. The construction materials sector could benefit from record public investment disbursement, while the IT sector offers selective opportunities after a period of valuation adjustment. Sectors such as fertilizers and chemicals still maintain stable profit margins, boosted by positive policy changes...

Source: https://thanhnien.vn/vn-index-lap-ky-luc-moi-sau-khi-thi-truong-chung-khoan-duoc-nang-hang-18525101014491309.htm