Vietnam Stock Market Sees Mixed Results as VN-Index Nears 1,450 Points

The Vietnam stock market saw a mixed day on Wednesday, with the VN-Index rising 0.03 percent to 1,448.33 points, while the HNX-Index fell 0.26 percent to 323.35 points. The market’s trading volume decreased by 15.6 percent compared to the previous session, with 533 million shares traded, worth VND12.3 trillion. Despite the decline in trading volume, the VN-Index managed to inch closer to the 1,450-point mark, a significant psychological level for investors. The market’s gain was driven by large-cap stocks, including VNM, VIC, and VCB, which rose 0.5-1.5 percent. However, the decline of small-cap and mid-cap stocks, such as FLC and HQC, limited the market’s upside. The real estate sector was the best performer, with stocks like VHM and KDH rising 1.5-2.5 percent. The banking sector also saw some gains, with stocks like BID and CTG rising 0.5-1.5 percent. However, the energy sector was under pressure, with stocks like GAS and PLX falling 1-2 percent. Foreign investors were net buyers on the Ho Chi Minh City Stock Exchange, purchasing VND143 billion worth of shares, while they were net sellers on the Hanoi Stock Exchange, selling VND23 billion worth of shares. The market’s mixed results were attributed to the lack of positive news and the ongoing concerns about the COVID-19 pandemic. Despite the challenges, the VN-Index is expected to continue its upward trend in the coming sessions, driven by the strong performance of large-cap stocks. The market’s liquidity is also expected to improve, with the trading volume increasing in the coming sessions. The Vietnam stock market is one of the fastest-growing markets in the region, with a strong potential for long-term growth. The market’s performance is closely watched by investors, who are looking for opportunities to invest in the country’s growing economy. The government’s efforts to improve the business environment and attract foreign investment are also expected to support the market’s growth. Overall, the Vietnam stock market is expected to continue its upward trend, driven by the strong performance of large-cap stocks and the improving liquidity.

Source