Việt Nam’s stock market extended its upward momentum on Tuesday, driven largely by the debut of Vinpearl JSC (VPL) on the Hồ Chí Minh Stock Exchange (HoSE), which closed at its ceiling price.

The strong performance of VPL contributed significantly to lifting the VN-Index above the 1,290-point level. Market liquidity improved slightly, while foreign investors continued to post strong net buying.

At the close of trading, the VN-Index rose 10.17 points, or 0.79 per cent, to 1,293.43 points. Market breadth remained positive with 205 gainers surpassing 106 decliners.

Total trading value on HoSE reached approximately VNĐ23.5 trillion (around US$905.5 million), with more than 942 million shares changing hands.

The VN30-Index, tracking the 30 largest listed stocks by market capitalisation, also gained 10.74 points, or 0.78 per cent, to end at 1,382.78. Among the VN30 constituents, 20 stocks advanced, nine declined and one remained unchanged.

Vinpearl JSC (VPL) officially debuted on the HoSE, soaring by the daily maximum of nearly 20 per cent. Despite muted performances from other 'Vin' stocks—VIC edged up 0.25 per cent, while VHM and VRE declined 0.48 and 0.39 per cent respectively—VPL alone contributed more than seven points to the VN-Index, which rose by just over ten points overall.

VPL saw only three transactions during the morning session, totalling 4,800 shares, while the ceiling-price buy orders remained near 1.44 million shares. With a market capitalisation exceeding VNĐ153.3 trillion, VPL is now the ninth-largest listed company on HoSE and is poised to become a key pillar of the benchmark index in the coming sessions.

Analysts from Saigon – Hanoi Securities (SHS) commented that: “The VN-Index is in a short-term accumulation phase around the 1,260-point area, which corresponds to the 200-day moving average. The 1,300-point level remains a strong psychological and technical resistance, coinciding with the price zone prior to the sharp sell-off on 3 April, following the tariff announcement. The market's sentiment and trend continue to improve, supported by the performance of large-cap stocks in the VN30 group.”

They added: “Although many stocks are still reasonably valued based on fundamentals and several short-term opportunities remain, the index is returning to its pre-tariff announcement range, which is no longer an attractive entry point for fresh investments.

"New positions should be carefully selected, and investors holding high allocations may consider short-term portfolio adjustments as the VN-Index approaches the 1,300-point resistance level.”

Investors are advised to maintain a balanced allocation and focus on stocks with strong fundamentals, leading positions in strategic sectors and solid growth prospects aligned with Việt Nam’s economic trajectory. — VNS

Read original article here