Stocks jumped to the highest in almost 4 years

29/05/2025, 02:00

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The VN-Index has surged 22.5% since April 9 to the highest level since September 22, 2021.

The VN-Index opened higher on Tuesday and traded in positive territory throughout the session, closing up 0.5% at 1,339.8. Market liquidity increased, with total trading value rising 10.9% compared to Monday to VND23.6tn (USD908mn). The HNX Index followed a similar pattern, gaining 1.1% to close at 221.8.

After plunging the week after US President Trump announced 46% tariffs on Vietnamese exports to the US, the VN-Index has surged 22.5% since April 9 to the highest level since September 22, 2021. Most sectors gained today, led by Travel & Leisure (2.7%), Industrial Goods & Services (1.3%) and Personal & Household Goods (1.2%). Telecommunications (-0.6%) declined.

Top performers today included HVN (4.1%) VHM (1.1%), BID (1.3%), and FPT (1.4%). Top laggards included VPL (-3.1%) and VCB (-0.4%). TCM (6.9%) hit its ceiling price today following its plan to issue nearly 10.2 million bonus shares to shareholders at a 10% ratio, with June 10, 2025 as the record date. If the issuance goes through, the firm’s charter capital will rise from VND1.02tn (USD39.2mn) to over VND1.12tn (USD43.2mn).

HVN (4.1%) has just held a groundbreaking ceremony for the first project in its aviation services ecosystem at Long Thanh International Airport. The project is invested in and directly implemented at the airport by Vietnam Airport Ground Services Co., Ltd. (VIAGS), a subsidiary of Vietnam Airlines.

Foreign investors net sold today with VND1.18tn (USD45.3mn), with selling momentum focused on HPG (VND156.5bn, USD6mn), VIX (VND144bn, USD5.5mn) and VIC (VND136bn, USD5.2mn). Meanwhile, foreign investors mainly bought FPT (VND126.9bn, USD4.9mn), GMD (VND105.4bn, USD4.1mn) and CTD (VND43.4bn, USD1.7mn).

Industrials (2.2%), IT (1.6%), and Real Estate (0.8%) rose, while Consumer Discretionary (-1.1%) and Health Care (-0.8%) lost ground today. Top index movers included HVN (4.2%), VHM (1.1%), BID (1.3%), FPT (1.5%), and GVR (1.9%). Top index laggards consisted of VPL (-3.1%), VCB (-0.4%), LPB (-0.9%), VNM (-0.5%), and SSB (-1.1%).

The VN-Index maintained its upward momentum and closed at the highest level of yesterday’s trading session with high trading volume.

Besides, the cash flow has started to spread more positively, no longer focusing on Vingroup’s stocks alone but shifting to many other industries, such as securities, real estate, construction materials, transportation, and technology.

AIS Securities said the VN-Index would soon go to the 1,340-1,345 range and possibly even more, as the medium-term trend is still bullish. “Investors should prioritize holding stocks with positive movements while buying stocks with good fundamentals and growth prospects”, said AIS Securities.