Strong demand pushes VN-Index up 10 points

The VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), surged 9.78 points, or 0.93%, to 1,066.9 on Friday thanks to improved investor sentiment.

Vietnam's main bourse saw over 725 million shares changing hands for nearly VND12 trillion ($511.5 million), up VND500 billion from the previous session and marking the highest level in one month. There were up to 222 tickers gaining, 82 going flat, and 140 losing.

Blue chips were the main support for the VN-Index gain as their VN30 index rose by 11.51 points to 1,066.44, with up to 20 gainers.

Green covered all stock groups in the market, especially steel, real estate, construction, banking and securities.

Among the biggest gainers, HPG of steel maker Hoa Phat expanded 2.8% with a trading value of over VND1 trillion ($42.6 million), the highest in three months.

The price of HPG hit VND22,350 ($0.95) per share, the highest since October 2022, making it one of the three stocks with the most negative impact on the market.

Similarly, most construction codes gained over 2% from their reference levels. Notably, HBC of Hoa Binh Construction Corp. hit its ceiling price of VND8,930 ($0.38) with a matching value of nearly VND60 billion ($2.56 million) over information the company has restarted its projects in Binh Thuan and Ba Ria-Vung Tau provinces.

Foreign investors were net buyers on the HoSE for the second session to the tune of nearly VND1 billion ($42,630). HPG was net purchased most with a value of VND40 billion ($1.7 million).

The HNX-Index on the Hanoi bourse rose 0.69 points to 215.1, while the UPCoM-Index on the unlisted public company market increased 0.92 points to 80.05.

In the trading week of May 8-12, the benchmark VN-Index saw four gaining and one losing sessions, up 26 points from the previous week.