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Vietnam’s VN-Index continued its push toward a historical peak, but trading began with negative cues. European markets opened lower and U.S. stock futures fell further. Despite this, the index gained in the afternoon as buying returned to the blue-chip group.
In the afternoon, VHM surged to the ceiling and overtook VIC to become the strongest driver. By the close of the morning session, VHM had already risen 4.35%, and it added about a further 2.47% in the afternoon. VHM also recorded the highest liquidity among VN30 constituents in the afternoon, reaching 483.5 billion dong.
VIC similarly benefited from strong cash flow, with afternoon liquidity of 382.1 billion dong. After falling 0.48% by the close of the morning, VIC strengthened toward the end and closed above the reference price by 1.65%.
Other Vin group stocks also rose in the afternoon: VPL closed up 3.02% versus the morning reference, and VRE rose 2.97%, equivalent to an additional 0.68% in the afternoon session.
Outside the Vin group, HPG showed the clearest progress among large caps. HPG’s gains started from around 2:10 pm and it closed up 1.61% versus the reference, equivalent to a 1.25% gain from the morning level. Afternoon liquidity for HPG was also solid at 408.6 billion dong, just below VHM.
VN30 saw 15 stocks higher than in the morning and 10 lower. However, gains among the remaining constituents were not strong. Declines were limited, helping support the index.
VN30-Index closed up 1.05% with 19 advancers and 7 decliners, slightly better than the morning session (17 advancers/10 decliners, index up 0.66%). Liquidity in the VN30 basket fell by 20% versus the morning, with nearly one-third (32%) concentrated in the four Vin stocks and HPG.
The afternoon liquidity weakness reflected a common pattern: investors hesitated to add capital. HoSE trading value fell 17%, and including HNX, the afternoon session declined nearly 16% compared with the morning.
Total matched order value across both exchanges for the day reached 18,801 billion dong, down 13% from the previous session and the weakest in two weeks. Compared with last week’s average, today’s liquidity was down about 16%, and compared with the last 20 sessions it was down 15%. The change is notable given the already weak liquidity baseline.
The article attributes the cautious stance to concerns around the two-week ceasefire ending on April 22, alongside hard rhetoric and militaristic actions over the weekend that may reduce negotiation prospects. Investors appear to be adopting defensive strategies in case conflict flares again.
Although afternoon liquidity was weaker, the price-up effect was somewhat stronger than in the morning. End-of-day breadth remained positive at 154 advancers/147 decliners (morning 156/133). The number of stocks up more than 1% was also higher, with 84 such gainers at close versus 61 in the morning.
Money continued to concentrate in a limited set of stocks, producing differentiated liquidity and stronger price gains. The blue-chip group drove much of the move, led by Vin stocks, while HPG also contributed.
Among the blue chips, the article lists: VHM, VIC, VPL, and VRE, plus HPG and other large caps with sizable liquidity. Specifically, HPG rose 1.61% with 747.1 billion dong; SSI rose 1.4% with 684.6 billion; FPT rose 1.18% with 527 billion; HDB rose 2.67% with 512.2 billion; TCB rose 1.09% with 411.2 billion; and VCB rose 1.01% with 386.2 billion.
Midcap gainers included HCM up 3.52% with 699.2 billion dong; GEX up 5% with 456.4 billion; GEE up 6.96% with 290.8 billion; PNJ up 3.6% with 211.3 billion; and CTD up 5.33% with 127.1 billion.
Of the 84 strongest stocks at close, trades concentrated in the top 30 stocks with turnover of 10 billion dong or more. This group accounted for 99.3% of the total trades of that group (approximately 8,000 billion dong). Overall cash flow was weak, but still highly concentrated in a small number of stocks.
On the downside, downward pressure remained limited, similar to the morning session, mainly driven by about a dozen stocks with relatively large trades. While 57 stocks declined by more than 1%, liquidity on HoSE for these decliners was only 9%.
The article highlights GAS down 1.12%, BSR down 2.06%, and GVR down 1.49% as the only stocks likely to press on the index.
VN-Index closed today up 19.94 points, with four Vin group stocks contributing about 15 points. Despite weaker overall liquidity, the market still showed that short-term money remained active, though in smaller size.
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