VN-Index up 15 points on hopes for Trump victory
Vietnam’s benchmark gained 15.52 points, or 1.25%, to 1,261.28 on Wednesday, supported by investor expectations of Trump re-election as the 47th President of the US, the world’s largest economy.
The green was dominant across the board, with 312 stocks on the Ho Chi Minh Stock Exchange (HoSE), represented by the VN-Index, rising and just 61 declining.
Market liquidity was robust, with total trading value exceeding VND15.8 trillion ($622.3 milion). Of this, over VND14.1 trillion was traded on the HoSE, marking an increase of more than VND3.7 trillion from the previous session.
However, foreign investors remained net sellers, with a net outflow of over VND380 billion ($14.97 million), marking their 10th consecutive session of net selling.
GVR of Vietnam Rubber Group was the top contributor to the VN-Index, adding 1.6 points as it surged more than 5% to VND33,750 ($1.33) per share. Meanwhile, HVN of national flag carrier Vietnam Airlines weighed on the index the most, falling 1.1%.
All 30 large-cap tickers in the VN30 baskets closed above their reference prices. In addition to GVR, banks, real estate, and steel stocks saw strong trading activity.
Notable gainers included GVR, CTG of VietinBank, and TPB of TPBank, up over 2%, while TCB of Techcombank, HPG of steel maker Hoa Phat, STB of Sacombank, VRE of Vincom Retail, and MBB of MBBank saw gains in the range of 1.6-1.9%.
In the mid-cap group, real estate stocks — especially those focused on industrial parks — saw sharp increases, fueled by optimism over investment flows. KBC of Kinh Bac City Development Holding hit its ceiling price, with trading volumes surpassing 20 million shares. VGC of Viglacera Corporation, another major player in industrial park development, also enjoyed the maximum gain.
The HNX-Index on the Hanoi Stock Exchange, home to mid and small caps, rose 1.29% to 227.76 points, while the UPCoM-Index on the Unlisted Public Companies Market went up 0.87% to 92.71 points.
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