The Vietnam stock market began the year on a high note, setting two new historic peaks within the first two trading sessions. The VN-Index, Vietnam’s benchmark stock index, closed at a record-breaking 1,788 points on Monday and escalated a further 1.56% to a fresh peak of 1,816 points on Tuesday. After closing the previous year 40% higher, it now ranks as the tenth best-performing stock index globally.
The Ho Chi Minh Stock Exchange, the basis for the VN-Index, experienced a 6% gain in trading on Tuesday, reaching VND27.45 trillion (US$1.04 billion).
On the other hand, the VN30 basket, which consists of the thirty largest capped stocks, saw 23 stock tickers rising. Leading the way was GAS, a state-owned Petrovietnam Gas, with a 7% increase, closely followed by property titan Vinhomes’ VHM, which climbed 6.9%.
Fuel distributor Petrolimex’s PLX finished 6.7% higher, while MB’s MBB, a lending company, rose by 5.1%.
However, two prominent stocks experienced a decline. Duc Giang Chemicals Group’s DGC dropped 3.8%, while Sacombank’s STB, a lender based in Ho Chi Minh City, fell by 2.1%.
Foreign investors mainly sold off stocks of the private conglomerate Vingroup’s VIC and VHM, resulting in net sales of approximately VND387 billion.
Meanwhile, the HNX-Index for stocks on the Hanoi Stock Exchange, which primarily consists of mid and small-cap stocks, fell by 0.09%. The UPCoM-Index for Unlisted Public Companies Market also experienced a drop, declining by 0.39%.
Questions & Answers
What were the new historic peaks for the Vietnam stock market at the beginning of the year?
The VN-Index, Vietnam’s benchmark stock index, closed at a record-breaking 1,788 points on Monday and escalated a further 1.56% to a new peak of 1,816 points on Tuesday.
Which were the top-performing stocks in the VN30 basket?
Leading the way was GAS of state-owned Petrovietnam Gas with a 7% increase, followed closely by property giant Vinhomes’ VHM, which climbed 6.9%.
Which stocks did foreign investors predominantly sell off?
Foreign investors mainly sold off stocks of the private conglomerate, Vingroup’s VIC and VHM, resulting in net sales of approximately VND387 billion.
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