Pham Nhat Vuong Closes in on the Top 100 World Billionaires List

The Vingroup stock cluster continues to soar to new heights, propelling the VN-Index upward despite intense market polarization. In a single day, Pham Nhat Vuong's wealth surged by $784 million, edging him closer to joining the ranks of the world's 100 wealthiest individuals.

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The VN-Index surged in the first session of the week, though its upward momentum heavily relied on pillar stocks. The index’s green hue was primarily bolstered by Vingroup and leading stocks in the VN30 basket, such as VJC and VNM. However, market breadth remained narrow, with declining stocks outnumbering gainers.

The Vingroup trio continued to dominate the index’s performance. VIC alone contributed 8.45 points to the VN-Index, while VHM and VRE further reinforced the rally. VIC climbed over 4%, nearing the 240,000 VND per share milestone, shattering its historical peak and pushing Vingroup’s market capitalization to nearly 930 trillion VND. VRE hit its ceiling at 34,450 VND, and VHM surged 3.42%, approaching the 103,000 VND mark.

Pham Nhat Vuong’s wealth surged by $784 million in a single day.

This rally significantly boosted Pham Nhat Vuong’s net worth. According to Forbes’ real-time data, his fortune rose by $784 million in one session, reaching $21.9 billion, a 3.71% increase, propelling him to the 104th spot among the world’s wealthiest individuals.

Beyond the Vin group, VJC and VNM played crucial supportive roles. VJC rose 5.24%, while VNM climbed 5.18%, ranking as the third most influential stock on the VN-Index. Conversely, MWG, FPT, STB, and HPG led the negative impact.

Market polarization was evident. Despite the Vingroup effect, real estate stocks remained in the red, with CII, DIG, CEO, DXG, HQC, SCR, PDR, and GEX all declining. Banks and securities firms showed mixed performances.

Notably, TCX emerged as a market leader within the securities group. However, its IPO investors have yet to break even. TCX recently finalized a 25% dividend plan, comprising 5% in cash and 20% in stock. With over 2.3 billion shares outstanding, the cash dividend is estimated at 1.155 trillion VND.

The stock dividend involves issuing 462.2 million new shares at a 5:1 ratio. Post-issuance, TCBS’s chartered capital is expected to rise to over 27.735 trillion VND.

At the close, the VN-Index gained 13.05 points (0.79%) to 1,667.98. The HNX-Index fell 1.91 points (0.73%) to 261.22, while the UPCoM-Index rose 0.24 points (0.20%) to 118.93.

Liquidity continued to decline, with HoSE trading value exceeding 17.2 trillion VND. Foreign investors net sold 1.247 trillion VND, focusing on VRE, VHM, STB, VIC, and MWG.

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