VN-Index revives nearly 29 points as foreign capital pours into market

Although the global stock market was gloomy, the cash flow actively poured into Vietnam's stock market for bottom-fishing right from the beginning of the trading session on October 12, causing the VN-Index to rebound robustly, fueled by foreign investors’ net buying of up to VND1.3 trillion in the whole market.

In the morning trading session, many banking and securities stocks hit the ceiling, such as STB, CTG, BID, ACB, and VCI, relieving the psychology of investors in the market. Stocks in the retail sector also gained strongly, in which FRT also hit the ceiling.

Cash flow actively entered the market as investors accepted to buy after the stock market dropped sharply for six consecutive weeks, causing the VN-Index to recover robustly. Foreign investors also poured money into the market for bottom-fishing and disbursed heavily with a net buying of up to VND668 billion. Of which, the net buying on the HoSE in this morning's trading session was VND649.5 billion, accounting for nearly 14 percent of HoSE's total trading volume.

At the end of the morning session, the VN-Index recouped all the points it lost the previous day when it jumped by 30.5 points, or 3.03 percent, to 1,036.7 points. Closing the morning session on the Hanoi Stock Exchange, the HNX-Index also surged by 4.11 points, or 1.88 percent, to 222.89 points.

In the afternoon session, the selling pressure increased, but the indexes were still fortified when the purple color was not only in banking and securities stocks but also in steel and fertilizer stocks, with HSG, HPG, DPM, and DCM hitting the ceiling.

Ending the trading session on October 12, the VN-Index climbed sharply by 28.61 points, or 2.84 percent, to close at 1,034.81 points, with 386 advancers, 96 decliners, and 46 unchanged stocks. On the smaller bourse in the North, the HNX-Index also gained 4.65 points, or 2.13 percent, to finish at 223.43 points, with 129 gainers, 64 losers, and 38 unchanged stocks.

However, the market liquidity decreased compared to the previous session, with the total trading value at nearly VND11.5 trillion. In this trading session, foreign investors net bought up to VND1.3 trillion in the whole market.