VN-Index soars 24 points after two consecutive declines

Vietnam’s benchmark VN-Index surged 23.94 points to close at 1,293.56 on Tuesday as foreign investors bought in aggressively.

On Tuesday morning, the VN-Index on the Ho Chi Minh Stock Exchange (HoSE) fell from 1,269 to 1,232 points within a few minutes due to sell-off activities, the lowest level since April 2021.

However, the market rallied in the afternoon, marking a rise of 23.94 points in the end which was the strongest increase in the past two weeks and broke the chain of two consecutive declines.

The VN30-Index, which represents the 30 biggest stocks on HoSE, went up 31.42 points to close at 1,345.46. Liquidity reached VND8,611 billion ($375.37 million).

The oil and gas industry took the lead as PVD, PXS, PVC, and PVS shares soared significantly, followed by PVB, GAS, OIL, PVT, and PGD.

Foreign investors remained a net buyer to the tone of VND725 billion ($31.6 million) on HoSE, up 20% against the previous session, focusing on stocks like DGC (Duc Giang Chemicals Group), STB (Sacombank), HPG (Hoa Phat Group), and NLG (Nam Long Investment Corporation).

On Monday, the Vietnamese stock market plunged deep, with VN-Index losing nearly 60 points to close at 1,269.62, its lowest level in nine months.