Real estate stock rally pushes VN-Index up 11 points

The VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), surged 11.22 points, or 0.97%, to close at 1,165.42 on Thursday thanks to the rally of property stocks.

The main index marked its streak of five consecutive gaining sessions.

The major bourse saw up to 334 tickers gaining and only 97 losing. Its trading value hit nearly VND16.7 trillion ($705.2 million), unchanged from the previous session, with more than 806 million shares changing hands.

The VN30 index, which tracks the performance of 30 largest cap stocks, went up 9.57 points to 1,156.11, with up to 27 gainers and only two losers.

The real estate group became the focus of attention with many tickers rallying such as VHM of Vinhomes up 2.18%, NVL of Novaland 2.4%, KDH of Khang Dien Holding 3.76%, DIG of DIG Corp. 4.99%, HDG of Ha Do Group 3.43%, DXG of Dat Xanh Group 4.01%, and KHG of Khai Hoan Group 4 .57%.

Notably NLG of Nam Long Group, HDC of Ba Ria-Vung Tau House Development JSC, DPG of Dat Phuong Group, and HTN of Hung Thinh Incons JSC all hit their ceiling prices.

Banking stocks were in the green, but most of them gained less than 1%, except for VPB of VPBank 1.53% and LPB of LienVietPostBank 1.91%.

Securities tickers also showed good performance, with SSI of Saigon Securities expanding 1.61%, VND of VNDirect Securities 1.99%, HCM of Ho Chi Minh City Securities 1.68%, VIX of VIX Securities 3.08%, and FTS of FPT Securities 1.13%.

The green also covered other groups such as manufacturing, energy and retail.

Foreign investors turned net buyers on the Ho Chi Minh Stock Exchange (HoSE) after five consecutive net-selling sessions to the tune of over VND230 billion ($9.7 million).

They mainly net purchased MSN of Masan Group, SSI, and MWG of Mobile World Investment Corp.

The HNX-Index on the Hanoi bourse rose 1.09 to 229.97, while the UpCOM-Index on the unlisted public company market gained 0.3 points to 86.21.