By the end of July, there were 43 stocks with market capitalisation of over US$1 billion, according to the latest data published by the Hồ Chí Minh City Stock Exchange (HoSE).

This showed the positive improvement of the market since April 2023.

Last month marked the 23-year operation of the exchange and also the strongest gain of the three consecutive rising months of the VN-Index. 

The index climbed by 9.17 per cent in July, with the average trading value surpassing all previous months to reach nearly VNĐ18.3 trillion a session.

The rallies helped push the market capitalisation to over VNĐ4.87 quadrillion, a 9.11 per cent increase over the previous month. The outcome represents more than 94.24 per cent of the whole market’s capitalisation and is equal to 51.23 per cent of the 2022 GDP (GDP at current prices).

The group of stocks with a capitalisation of more than US$1 billion has continuously improved month by month and now the members of the billion-dollar club is up to 43 enterprises.

New members joining the club in July were Khang Điền House Trading and Investment JSC (KDH), Kinh Bắc Urban Development Corporation (KBC), and VNDirect Securities JSC (VND). The stocks posted impressive performance last month, up 21.75 per cent, 12.44 per cent, and 10.05 per cent, respectively. 

In particular, at the beginning of July, VND even experienced a steep decline and record liquidity due to negative rumours.

Meanwhile, Vietcombank (VCB), Vinhomes (VHM), and BIDV (BID), the biggest companies with a market cap exceeding $10 billion, all helped the VN-Index to surpass 1,200 points in late July.

Of which, VCB led the way with a gain of 8.17 per cent, followed by VHM and BID, up at 14.54 per cent and 8.88 per cent, respectively. 

Other ticker symbols posting outstanding results last month were Novaland (NVL) up 26.93 per cent, Mobile World Investment Corporation (MWG) up 23.98 per cent, and EVNGENCO rising 22.08 per cent. — VNS