Steel stocks soar, billionaire Tran Dinh Long gains nearly 3,900 billion VND

In the first trading session of the week, the market officially conquered the 1,300-point mark. At the end of the session, VN-Index closed at 1,304.56 points, up 7.81 points compared to the session at the end of last week. The VN30 group of stocks played a pivotal role with an increase of 10.79 points.

Steel stocks surged and skyrocketed right after opening. At times, HPG shares of Hoa Phat Group increased sharply to VND28,300/unit. Or stocks VCA (Vicasa - VNSteel), TLH (Tien Len Steel), VGS (Viet Duc Steel Pipe) were also submerged in purple.

Not only did steel stocks increase in price, but trading volume also exploded. Billionaire Tran Dinh Long's HPG shares saw liquidity soar to nearly 73.9 million units. HSG (Hoa Sen) and NKG (Nam Kim) shares also had over 10 million units.

The positive performance of steel stocks was supported by the information that the Ministry of Industry and Trade applied temporary anti-dumping tax on some hot-rolled steel (HRC) products originating from China. Accordingly, the temporary anti-dumping tax applied to investigated goods from China is 19.38-27.83%.

The provisional anti-dumping tax takes effect 15 days after the decision is issued (February 21). The application period is 120 days from the date of effect.

At the end of the trading session, steel industry stocks were all in green, while others remained purple, such as TLH (Tien Len Steel) and VCA.

Billionaire Tran Dinh Long's assets "swelled" after positive developments in HPG shares (Photo: Tien Tuan).

Steel stocks were rocked on February 10 after President Donald Trump announced a 25% tariff on all steel and aluminum imported into the U.S. Many stocks fell sharply, then diversified and recovered.

For example, HPG shares on February 10 fell sharply to VND25,400/unit, and billionaire Tran Dinh Long's assets - Chairman of Hoa Phat - decreased by more than VND2,000 billion in one session.

In today's trading session, HPG code increased by 9% to 27,700 VND/unit. Thus, this billionaire's assets have reached 45,705 billion VND, an increase of nearly 3,800 billion VND compared to the deep decrease mentioned above.

Steel industry stocks such as HPG also led the group with the strongest impact on the index. Followed by VNM, LPB, HDB... On the contrary, the "FPT" group of stocks including FPT and FRT had a negative impact.

Source: https://dantri.com.vn/kinh-doanh/co-phieu-thep-tang-boc-ty-phu-tran-dinh-long-co-them-gan-3900-ty-dong-20250224152114673.htm