Stocks rise after holiday break despite heavy foreign selling

Investor sentiment remains cautious after the extended holiday, with many still hesitant to enter the stock market, resulting in low market liquidity.


Nevertheless, despite foreign investors offloading over VND910 billion worth of shares on the HOSE, the market recorded a positive uptick.

On May 2, the Vietnamese stock market witnessed the VN-Index gaining nearly 7 points. Although there has not been a significant influx of funds into the market for bottom fishing, there was notable interest in real estate and construction stocks, leading to the dominance of green. TCH rose by 1.88 percent, NLG surged by 3.56 percent, NBB increased by 3.82 percent, CII climbed by 3.42 percent, VCG advanced by 3.84 percent, HHV saw a gain of 1.98 percent, SZC went up by 1.99 percent, IDC soared by 4.98 percent, BCG jumped by 3.35 percent, QCG shot up by 5.92 percent, and DXG edged higher by 1.55 percent.

The banking stock group exhibited divergence. Specifically, SHB emerged by 2.18 percent, VIB increased by 1.42 percent, and ACB, MBB, TCB, HDB, and VCB all added up by 1 percent. Conversely, STB decreased by 2.13 percent, VPB dropped by 1.35 percent, CTG declined by 1.37 percent, EIB fell by 1.11 percent, LPB slid by 1.91 percent, TPB shrank by 1.4 percent, and SSB tripped by 1 percent.

Meanwhile, the securities stock group declined simultaneously. VCI dropped by 1.38 percent, VND and CTS both decreased by 1.69 percent, AGR fell by 2.5 percent, HCM reduced by 2.59 percent, SSI weakened by 1.42 percent, BSI lost by 1.17 percent, and VDS evaporated by 1.09 percent.

The manufacturing group also demonstrated robust gains in the market. GEX enhanced by 2.7 percent, DCM jumped by 4.4 percent, SAB soared by 4.04 percent, NKG climbed by 3.65 percent, DPM escalated by 3.01 percent, and HSG strengthened by 2.05 percent.

Additionally, the electricity, retail, and information technology stock groups also showed positive momentum. POW hiked by 5.71 percent, REE spiked by 4.22 percent, PC1 rallied by 1.55 percent, FRT enlarged by 1.86 percent, MWG grew by 1.21 percent, PNJ gained by 1.16 percent, FPT spiraled by 3.33 percent, VGI heightened by 4.4 percent, and CMG mounted by 3.36 percent.

At the close of the trading session, the VN-Index advanced by 6.84 points, or 0.57 percent, to reach 1,216.36 points, with 268 gainers, 194 losers, and 75 unchanged stocks.

Meanwhile, the HNX-Index at the Hanoi Stock Exchange also edged up by 0.67 points, or 0.3 percent, to close at 227.49 points, with 82 stocks advancing, 87 declining, and 74 remaining unchanged.

Market liquidity dropped heavily, with the total trading value on the HOSE failing to surpass VND14.4 trillion.

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