HCMC bourse trading value hits 16-month high

The trading value on the Ho Chi Minh Stock Exchange (HoSE) on Tuesday reached nearly VND26.3 trillion ($1.11 billion), up over 9% from the previous session and the highest level since April 8, 2022.

Cash flows mainly ran into finance, real estate and industry stocks.

However, the VN-Index, which represents the HoSE, dropped 5.34 points, or 0.44%, to 1,217.56 due to strong selling pressure at the end of the session.

The major bourse saw up to 310 losers and 156 gainers, with 1.28 million shares changing hands.

Blue chips were the main force dragging down the VN-Index as their VN30 index fell 8.63 points to 1,222.18, with up to 22 tickers losing.

All stock groups closed in the red, with consumer goods and real estate being the largest losers. However, among property tickers, VIC of Vingroup hit its ceiling price for the second session to VND58,900 ($2.49) per share, equal to the price recorded in December 2022 and early this year. Its positive movement was attributed to the listing of VinFast, Vingroup’s electric vehicle maker, on the U.S. stock market in August. With its trading value ranking sixth on the HoSE, VIC became the biggest contributor to the market.

In addition to VIC, two other real estate codes PTN of Khanh Hoa House Development JSC and PLA of Petroleum Logistic Service and Investment JSC also enjoyed the maxium expansion.

In the construction group, VCG of Vietnam Construction And Import-Export Joint Stock Corporation, PHC of Phuc Hung Construction, CC1 of Construction Corporation No 1 JSC, and HAN of Hanoi Construction Corp. hit their ceiling prices. These four companies belong to a partnership named Vietur which is joining a bid for Package No. 5.10 “Construction and Equipment Installation for the Passenger Terminal Building” of Long Thanh International Airport in Dong Nai province.

Foreign investors were net sellers on the HoSE for the fifth consecutive session to the tune of more than VND250 billion ($10.55 million). They mainly net sold VNZ of VNG Corp., VIC, and HPG of steel maker Hoa Phat.

The HNX-Index on the Hanoi bourse went down 0.21 points to 239.35, while the UpCOM-Index on the unlisted public company market expanded 0.86 points to 90.21.