Real estate stocks heat up

HDC purple ceiling, DIG increased 3.6% along with some real estate codes remaining green while VN-Index struggled below reference.

VN-Index opened in red for the first hour of trading this morning as selling pressure appeared early. After 10am, the index fluctuated around the reference level but always stayed above the 1,260 point mark.

In the afternoon, the market was more negative when the HoSE representative index broke the above mark, at times falling close to 1,252 points. After 2:15 p.m., the index improved with a 14-point increase in a few minutes. In the last minutes of the session, the VN-Index decreased and closed at 1,263.8 points.

The number of stocks increasing and decreasing was not much different, 217 and 249 respectively. Industries that have attracted cash flow and accumulated well in recent times, such as media, technology, food and beverage, resources, retail... are under great pressure to take profits.

Real estate is still the group of stocks that recorded signs of heating up today with liquidity leading the market. In the morning, codes such as DXG, TCH, NVL or PDR all remained green. This sector almost supported the index for the whole morning.

Real estate stocks are heating up after the Prime Minister and a series of leading enterprises held a meeting to discuss monetary policy in 2024, aiming to remove difficulties for production and business. Tomorrow morning, the Government leader will continue to chair a conference with localities to remove difficulties and promote the implementation of social housing projects.

After many fluctuations, only 6 codes maintained the upward momentum. Of which, DIG closed the session 3.6% higher than the reference, with a total transaction value of nearly 2,000 billion VND and accounting for more than 7% of the entire HoSE floor.

DXG and TCH both accumulated over 1%. HDC increased sharply from 10am and maintained this level until closing.

In addition to real estate, chemical and securities stocks also performed well. Some typical codes in the two groups include GVR, FTS, and VCI.

Market liquidity in Ho Chi Minh City today decreased by about 450 billion, to over 27,500 billion VND. Foreign investors had their fourth consecutive net selling session with a record of over 1,300 billion VND - the highest level in the past three months. They focused on selling heavily in HPG, VHM, VND.

Siddhartha

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