Vietcombank helps VN-Index escape the "red fire" situation
The 24/7 stock market made a strong impression on investors when the VN-Index increased significantly and the trading volume once again reached billions of shares and a trading value of over VND20,000 billion.
In terms of liquidity, the July 25th stock market session continued the excitement of the July 24th stock market session. Right from the beginning of the session, cash flow poured into the market. As a result, for the entire July 25th stock market session, the Ho Chi Minh City Stock Exchange recorded more than 1 billion shares, equivalent to VND 20,145 billion, successfully transferred.
However, unlike yesterday, the stock market on July 25 witnessed profit-taking activities, with buyers only willing to buy at low prices and sellers willing to make concessions. The VN-Index could have had a red session if Vietcombank's VCB, Techcombank's TCB and a few other blue-chips had not played a supporting role.
Cash flow continued to pour into the stock market on July 25, but selling pressure was huge. If it weren't for Vietcombank's breakthrough, the VN-Index would not have avoided a "fiery red" session. Illustrative photo
In the stock market session on July 25, VCB increased sharply, up 3,100 VND/share, equivalent to 3.5% to 91,700 VND/share. Following VCB is TCB (up 1,050 VND/share, equivalent to 3.2% to 33,500 VND/share), VRE (up 600 VND/share, equivalent to 2.1% to 29,000 VND/share),...
Thanks to VCB, at the end of the stock session on July 25, VN-Index increased by 51.8 points, equivalent to 0.44% to 1,195.90 points; VN30-Index increased by 4.87 points, equivalent to 0.41% to 1,198.01 points.
The impact of VCB was so great that the stock market session on July 25 fell into a state of "green on the outside, red on the inside" - meaning the whole market went up but the number of stocks decreasing in price (250 stocks) was greater than the number of stocks increasing in price (207 stocks increasing in price).
One of the highlights of the July 25 stock market session was Novaland's NVL. Yesterday, NVL hit the ceiling with a surge in trading volume, reaching nearly 95 million units. Today, NVL could not maintain its heat when it closed at the reference price of VND16,200/share. Liquidity remained high with 42.5 million shares traded.
On the Hanoi Stock Exchange, the indices increased at a slower rate. At the close of the stock market session on July 25, the HNX-Index increased by 0.4 points, equivalent to 0.17%, to 236.93 points; the HNX30-Index increased by 0.49 points, equivalent to 0.1%, to 468.21 points.
Hong Kong stocks surge
Hong Kong stocks rebounded strongly and the Hang Seng index jumped more than 4% on Tuesday after China's Politburo pledged to "timely adjust and optimize policies" for the country's ailing property sector.
The Hang Seng Tech Index also rose more than 6%, led by Chinese electric vehicle makers.
Beijing's top decision-making body also vowed to “elevate stable employment to a strategic goal,” along with other pledges to boost consumption and tackle debt risks.
This comes after disappointing economic data last week prompted fresh calls for policy support to boost growth.
Mainland Chinese stocks were also higher, with the Shanghai Composite up 2.13% to close at 3,231.52, its biggest one-day gain since February. Meanwhile, the Shenzhen Component rose 2.55% to end at 11,021.29, its biggest one-day gain since October 2022.
Other Asian markets were also mostly higher. South Korea's Kospi rose 0.3% to close at 2,636.46, while the Kosdaq was 1.08% higher at 939.96, extending gains after posting nine straight days of gains on Monday.
South Korea saw a 0.9 percent year-on-year growth in gross domestic product in the second quarter, according to advance estimates on Tuesday.
Australia's S&P/ASX 200 extended gains from Monday, rising 0.46% to close at 7,339.7. In Japan, however, the Nikkei 22 edged lower to close at 32,682.51, while the Topix rose 0.18% to close at 2,285.38.
Overnight in the United States, all three major indexes rose as the Dow Jones Industrial Average extended its winning streak to 11 days, its longest winning streak since February 2017.
The Dow rose 0.52%, while the S&P 500 gained 0.40% and the Nasdaq Composite added 0.19%.
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