Domestic securities witnessed positive signals right from the start of the trading session, as major regional and global markets also turned bullish following encouraging economic data from the US.
On August 15, the Dow Jones Industrial Average surged by over 500 points as the market shrugged off recession fears. According to the US Commerce Department, retail sales for July rose by 1%, far exceeding the 0.3% increase predicted by economists. The US job market also showed more positive signs, with a decrease in the number of unemployment benefit claims.
In line with the overall positive trend, the domestic market experienced a surge in liquidity from the beginning of the session, maintaining its momentum throughout the day. HoSE witnessed an influx of over 23,000 billion VND today, more than double the previous session’s volume. This influx of capital triggered a broad-based rally, with a majority of stocks advancing. The uptrend intensified in the afternoon session as several large-cap stocks widened their gains, fueling the market’s exuberance.
Real estate and securities stocks attracted significant investor interest, with a substantial number of stocks hitting the daily limit-up circuit breakers. Real estate stocks such as DIG, HPX, DXS, HDG, DXG, PDR, KBC, LDG, and NVL all surged to their maximum allowable limits.
Real estate stocks soar.
Securities stocks, known for their sensitivity to market fluctuations, witnessed a rally, with several stocks hitting the daily limit-up circuit breakers, including VDS, BDI, FTS, AGR, CTS, and VIX.
Large-cap stocks displayed strong consensus, with 29 out of 30 stocks in the VN30 index closing in positive territory. VNM was the only stock that remained unchanged. MWG attracted substantial trading interest, recording the highest liquidity on the exchange, surpassing 1,260 billion VND. Other large-cap stocks such as HPG, SSI, and FPT also featured in the top traded stocks by volume.
The majority of sectors contributed to the market’s upward trajectory, with over 400 stocks on the HoSE trading in the green.
At the closing bell, the VN-Index climbed 28.67 points (2.34%) to 1,252.23. The HNX-Index rose 6.61 points (2.89%) to 235.15, while the UPCoM-Index gained 1.26 points (1.37%) to close at 93.44.
Liquidity surged, with the matching value on HoSE doubling that of the previous session, surpassing 21,500 billion VND. During this bullish session, foreign investors net sold nearly 87 billion VND. Their main sales were focused on VHM, HPG, TCB, HSG, and VPB.
Bank stocks sold off heavily
Today (2/2), the VN-Index continues to rise, but in a cautious trading atmosphere. It is noteworthy that most banking stocks in the VN30 basket are facing strong selling pressure.
Once a formidable competitor in the stock market, the total market capitalization of the entire real estate industry is now less than the combined market capitalization of three banks.
If you combine the market cap of Vietcombank and BIDV, along with the market cap of Vietinbank (which is approximately 960 trillion VND), it already surpasses the market cap of the top 30 largest real estate enterprises (which is around 788 trillion VND).
Real estate prices remain high, two companies predicted to increase net profit by 50% – 74% this year
Despite the low transaction volume, real estate prices continue to trend upward. It is worth noting that the sales activities of Nam Long Group (stock code NLG) and Khang Dien House (stock code KDH) have shown positive signs of recovery.
