Real estate stocks rebound strongly

Shares continued to fluctuate on Thursday morning, but many real estate stocks bounced back strongly after hitting floor prices in recent sessions.

The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 2.3 points, or 0.16 per cent, to 1,445.09 points.

The market’s breadth was positive, while liquidity on the southern bourse improved. During the morning trade, 268 stocks increased, of which 32 stocks recorded the biggest daily gain of 7 per cent, while 189 stocks declined.

Investors poured VND12.76 trillion (US$563 million) into HoSE, equivalent to a trading volume of nearly 497 million shares.

Meanwhile, foreign investors net sold more than VND150 billion on the market.

The benchmark continued the uptrend despite a fall in the VN30-Index. The 30 biggest stocks tracker posted a loss of 2.43 points, or 0.16 per cent, to 1,480.12 points. Of the VN30 basket, 14 stocks increased, while 14 slid and two ended flat.

The index was backed by strong recoveries in realty stocks leading by Vinhomes (VHM), up 1.03 per cent. The other two stocks of the Vin family also posted positive performance this morning, with Vingroup (VIC) up 0.1 per cent and Vincom Retail (VRE), up 1.5 per cent.

After hitting the floor price for many consecutively session, Development Investment Construction JSC (DIG) rebounded strongly, up 7 per cent. Becamex (BCM) also rose nearly 1.8 per cent.

Also supporting the uptrend, big stocks like Masan Group (MSN) and Vietnam Rubber Group (GVR) extended strong rallies, up 1.69 per cent and 1.73 per cent, respectively.

On the contrary, bank stocks faced strong selling pressure after recovering in the previous session. Of which, Vietcombank (VCB) lost the most, down 3 per cent. Sacombank (STB), SeaBank (SSB), Techcombank (TCB), VPBank (VPB) and Vietinbank (CTG) also saw poor performance.

On the Ha Noi Stock Exchange (HNX), the HNX-Index extended losses, down 3.1 points, or 0.76 per cent, to 406.21 points. VNS