Vietnam’s benchmark VN-Index closes 2024 with over 12% gain

The VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), closed the final trading session of 2024 down 0.41% to nearly 1,267 points, but it was a gain of 12.1% compared to the end of 2023.

With such a gain, 2024 marked the lowest performance of the Vietnamese stock market since 2020.

In 2024, the VN-Index reached its peak of over 1,301 points in mid-June, recovering from a low of about 1,132 points earlier in the year.

The HoSE’s trading value on the final trading day was not much different from the previous session, totaling over VND11.56 trillion ($453.6 million), as investors chose to stay on the sidelines to avoid risks.

Nearly 380 stocks closed in the red, and 346 others remained in the green, with major groups such as banking, securities, steel, and real estate recording slight declines in capital inflows.

Foreign investors turned net sellers to the tune of nearly VND300 billion ($11.77 million), after net buying in the previous two sessions.

The stocks with largest foreign outflows included STB of Sacombank, HDB of HDBank, FPT of tech giant FPT Corp, HPG of steel maker Hoa Phat, VCB of Vietcombank, and VND of VNDirect Securities.

For the whole year, foreign investors net sold over VND90 trillion ($3.5 billion) on the HoSE, a record high in over 24 years of stock market history. They only paused their net selling in January.

On the Hanoi Stock Exchange, the HNX-Index dropped 0.31% on the last session of the year, closing above 227 points. For the year, the index lost nearly 4 points.

Meanwhile, the UPCoM Index on the Unlisted Public Companies Market closed slightly higher (0.06%) to above 95 points.