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VN-Index gains over 15 points on Vin-family stocks

VIETNAM, February 19 - HÀ NỘI — Shares inched higher on Monday, continuing the current rallies on the back of Vin family stocks and strong liquidity.

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) rose 15.27 points, or 1.27 per cent, to close the trading day at 1,224.97 points.

Even though the market had only two sessions last week after a long Tết holiday, the benchmark index traded positively, breaking over the threshold of 1,200 points.

On the southern bourse, the market's breadth was positive with 194 gainers and 140 decliners. Liquidity soared today from the previous session to over VNĐ20 trillion. In particular, the trading value increased to VNĐ24.75 trillion (US$1 billion) from more than VNĐ18 trillion of last session.

Large-cap stocks performed well, with up to 21 ticker symbols out of the VN30 basket ticking higher while nine declined. The 30 biggest stocks tracker, VN30-index, rose 15.66 points, or 1.28 per cent, to 1,240 points.

The trio stocks of the Vin family, Vingroup (VIC), Vinhomes (VHM) and Vincom Retail (VRE), helped lift the market today, with all three hitting ceiling prices.

Other stocks supporting the bullish sentiment were PV Gas (GAS), up 3.52 per cent, BIDV (BID) climbed 1.54 per cent, Vinamilk (VNM) soared 2.7 per cent, Masan Group (MSN) surged 4.08 per cent and Hòa Phát Group (HPG) jumped 2.1 per cent.

On the Hà Nội Stock Exchange (HNX), the HNX-Index also finished higher at 233.37 points, up 0.33 points, or 0.14 per cent.

Investors poured nearly VNĐ1.7 trillion into the northern market, equivalent to a trading volume of 87 million.

Foreign investors returned to the market as they net bought nearly VNĐ132 billion on both main exchanges. Of which, they net bought VNĐ137.25 billion on HoSE, but net sold a small amount of VNĐ5.28 billion on HNX.

Deputy Minister of Finance Nguyễn Đức Chi beat the gong on Monday at HoSE's headquarters to mark the stock market's first trading session in the 2024 Lunar year.

Speaking at event, he also emphasised the need to remove obstacles faced by the market and have proper systems for transactions, payments, deposits and clearance for operating safely and smoothly.

The watchdogs must detect violations promptly and handle them seriously to ensure the rights of investors, he said.

All stakeholders, like the regulators, stock exchanges, other relevant agencies, market members, investors and listed businesses, needed to join hands to help lift the country from frontier to emerging market status soon, he said. — VNS