Stock Market Update: VIC Reaches Peak for Two Straight Sessions, Aiding VN-Index Rebound

🔥 Vietnam's stock market is on fire, y'all! 🔥

Stock Market Sizzles: Real Estate Stocks Lead the Charge

HÀ Nội — Vietnam's stock market continued its triumphant streak on Thursday, with a special shout-out to the real estate sector. The VN-Index danced higher by 5.88 points, closing at a sizzling 1,229.23 points, thanks to a smoking-hot performance by VIC.

The day started off with a gentle flicker of optimism, but a bout of morning selloff had the market reeling near the reference level by midday. However, the afternoon brought a powerful surge in demand, particularly in the real estate sector, pushing the market higher as the clock wound down.

On the Hò Chí Minh Stock Exchange (HoSE), 256 shares soared while 220 deserted the party. Total trading volume even sparked up, reaching over VNĐ20.35 trillion (approximately $779.9 million), a nice boost from the previous session.

VIC, a.k.a. Việt Nam's biggest property developer, exploded with a 6.9% surge to VNĐ67,000 per share—marking the second consecutive day of ceiling-busting gains. This explosion followed Vingroup's annual general meeting on April 24, where they unveiled an ambitious financial blueprint targeting a revenue of VNĐ300 trillion and a post-tax profit of VNĐ10 trillion in 2025, growth rates of 56% and 90% compared to the previous year, respectively. Talk about setting the bar high!

Vingroup also disclosed plans for Vinpearl to complete its listing procedures and to wrap up the process by April or May. Vinpearl has its sights set on selling 200,000 VinFast vehicles this year. But just when you thought it couldn't get more exciting, Vingroup Chairman Pham Nhat Vuong chimed in, stating his preference for investing in VIC shares over gold—causing investor interest to go from boiling to a full-on broil. According to Forbes, Vuong's net worth skyrocketed by $641 million to $8.1 billion after two successive sessions of VIC's ceiling-breaking gains.

Other real estate stocks also did a boss dance. Vinhomes (VHM) and CII both hit their price ceilings, while NVL, PDR, and DXG closed the day in positive territory, albeit with more modest gains.

However, the banking group experienced a chilly breeze, with most stocks feeling the selloff pressure. Heavyweights like LPB, STB, ACB, VPB, VIB, and SSB ended up in the red, partly dampening the market's overall momentum. The VN30 Index reflected this divergence in performance among large-cap stocks, with 17 sinking, 12 climbing, and one holding steady. VietJet Aviation (VJC), Vinamilk (VNM), and Masan Group (MSN) were the star performers, each scoring a 6.2%, 3.6%, and 3.5% gain respectively, respectively, providing a solid backbone for the index.

Foreign investors played the role of the Grim Reaper once again, selling off nearly VNĐ592 billion worth of stocks across the market. However, Netbuys were spotted in Hòa Phát Group (HPG), MSN, HDBank, and Gemadept (GMD).

The stock market is maintaining a strong upward momentum. - Photo laodong.vn

According to Saigon - Hanoi Securities (SHS), the ongoing market upturn is largely a result of positive first-quarter earnings. Analysts advise investors to maintain diversified portfolios and adopt a cautious approach in light of macroeconomic uncertainties, including tax policy tweaks, interest rate fluctuations, and fluctuations in foreign investor flows. Shares with a strong foundation, promising earnings outlooks, and minimal vulnerability to external risks are expected to remain flavors of the week in the coming days.

On a broader level, Vingroup's financial target for 2025 highlights a focus on sustainable development, a "green transition" campaign, better quality products and services, enhanced customer experiences, and investment in small and medium-sized tech enterprises. In the automotive sector, VinFast aims to expand globally amidst significant financial backing from Vingroup and a growth strategy that aims to double global vehicle deliveries in 2025. In infrastructure development, Vingroup has proposed a high-speed metro project worth around $4 billion connecting Ho Chi Minh City to Can Gio. These ambitious plans, coupled with Vuong's bold statements about VIC's potential, are setting the stage for an exciting ride in the Vietnamese stock market. 🔥📈🚀💸💰🔥

The current growth trend in Vietnam's stock market, seen in its continuous triumphs, shows no signs of slowing down.
Real estate stocks, led by VIC, have been the standout performers, contributing significantly to the stock market's upward momentum.
Leveraging AI, Vingroup has set ambitious financial goals for 2025, aiming to increase revenue and profits substantially, which has positively impacted the stock market.
The stock market's resilience has been attributed to strong corporate earnings in the first quarter. However, analysts urge caution due to potential macroeconomic uncertainties such as policy changes and fluctuations in foreign investment.
In the renewable sector, VinFast aims to double its global vehicle deliveries by 2025 with significant financial support from Vingroup, indicating a shift towards growth in this industry.
Infrastructure development, such as the proposed high-speed metro project from Vingroup, will contribute to Vietnamese business growth and technology advancements.
The strong performance of stocks in the real estate sector has led to substantial gains for investors, with the likes of VIC, Vinhomes, and CII recording impressive growth. Foreign investors, however, have been offloading their stocks on the market.

Stock Market Update: VIC Reaches Peak for Two Straight Sessions, Aiding VN-Index Rebound