Image Credits: Vietnam Plus
Vietnam’s stock market maintained its upward trajectory on the last trading day of September, buoyed by sustained net buying from foreign investors. The Hồ Chí Minh Stock Exchange (HoSE) saw the VN-Index rise by 4.01 points, or 0.31%, closing at 1,291.49 points. This marked the index’s third consecutive day of gains.
Throughout the trading session, the VN-Index hovered above the reference level, demonstrating a relatively stable performance despite a negative market breadth, where decliners outnumbered gainers by 158 to 141. Liquidity on the southern bourse slightly decreased, with total trading volume amounting to VNĐ21.8 trillion (approximately US$882 million), reflecting a 4.3% decline from the previous session.
The VN30-Index, which tracks the 30 largest stocks by market capitalization, also showed positive movement, increasing by 6.78 points, or 0.5%, to reach 1,350.85 points. In this index, 18 stocks advanced, while nine declined, and three remained unchanged. Notably, Ho Chi Minh City Development Joint Stock Commercial Bank (HDB) led the gains, rising by 3.85% and contributing nearly 0.78 points to the VN-Index. Tiên Phong Commercial Joint Stock Bank (TPB) experienced a significant boost, hitting its ceiling price with a 6.73% increase.
While the overall sentiment remained positive, some stocks faced selling pressure. The Bank for Foreign Trade of Vietnam (VCB) fell by 0.32%, Vietnam Airlines JSC (HVN) dropped by 2.07%, and Hòa Phát Group JSC (HPG) saw a decline of 0.57%.
Analysts from Việt Dragon Securities noted that the market is navigating through the critical resistance zone between 1,290 and 1,300 points. They indicated that increased liquidity suggests a robust contest between supply and demand, which will be vital for maintaining this upward momentum. They cautioned investors to closely monitor the dynamics of supply and demand as the market approaches potential resistance levels.
Meanwhile, on the Hà Nội Stock Exchange (HNX), the HNX-Index also closed higher, inching up by 0.03% to 235.92 points. The northern market traded nearly VNĐ1.1 trillion worth of shares, equating to a volume of over 56.2 million shares.
As the month closes, the Vietnamese stock market appears to be in a strong position, but investors are advised to remain vigilant, considering the potential for increased supply that could impact future performance.