Second quarter GDP surpasses forecasts as VN-Index starts the new week on a positive note
Market starts the new week on a positive note, with both the VN-Index and HNX-Index rising after a sharp decline at the end of the previous week.
The General Statistics Office announced that the gross domestic product (GDP) in the second quarter of 2024 recorded a positive growth rate, estimated at 6.93 per cent compared to the same period last year. This information helped the market start the new week on a positive note, with both the VN-Index and HNX-Index rising after a sharp decline at the end of the previous week.
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose 9.24 points or 0.74 per cent to close the trading session at 1,254.56 points.
The market's breadth was also positive as the number of gainers surpassed that of losers by 218 to 107. Liquidity on the southern bourse fell 37 per cent, down to VNĐ13.1 trillion (US$513.6 million), equivalent to a trading volume of 487 million shares.
The 30 biggest stocks tracker, the VN30-Index, climbed slightly, up 7.16 points or 0.56 per cent, to 1,285.48. Twenty-two ticker symbols in the VN30 basket edged up, while seven inched down and one ended flat.
Leading the market's uptrend were pillar stocks in the banking industry.
Data compiled by financial website vietstock.vn showed that the Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG) was the biggest gainer on the market, with shares up more than 3.2 per cent, contributing over 1.3 points to the VN-Index gain.
It was followed by the Bank for Foreign Trade of Vietnam (VCB), up 1.06 per cent, the Bank for Investment and Development of Vietnam (BID), up 1.5 per cent and the Vietnam Prosperity Joint Stock Commercial Bank (VPB), up 1.88 per cent.
Other large-cap stocks that performed well included Mobile World Investment Corporation (MWG), up 5.45 per cent and Vietnam Airlines JSC (HVN) which increased 3.92 per cent.
Notably, shares of Vincom Retail Joint Stock Company (VRE) hit a new ceiling price following the news that two Vinhomes Ocean Park projects 2 and 3, have been granted permission by Hưng Yên Province to sell houses to foreigners. Specifically, shares in VRE surged by 6.85 per cent, contributing over 0.8 points to the VN-Index.
Limiting the rallies, some big stocks still faced strong sell-offs, such as FPT Corporation (FPT) which posted a decline of 1.46 per cent and Vietnam Technological and Commercial Joint Stock Bank (TCB) which lost three per cent.
On the Hà Nội Stock Exchange (HNX), the HNX-Index also finished higher on Monday. It rose 0.41 per cent, to 238.56 points.
During the session, more than VNĐ938 billion worth of shares, equivalent to a trading volume of 51 million shares, were moved on the northern market.
Foreign investors extended their net selling spree as they net sold over VNĐ790 billion on the HoSE. — VNS
