Stocks surge nearly 2% in first session after Lunar New Year break
VOV.VN - Vietnam’s stock market rallied sharply on February 23, its first trading day following the nine-day Lunar New Year holiday, with the benchmark VN-Index climbing nearly 2% on strong buying interest across most sectors.
The VN-Index rose 36.05 points, or 1.98%, to close at 1,860.14, after gaining 38 points during the afternoon session. The VN30-Index, which tracks the 30 largest stocks by market capitalisation, advanced 1.05%.
Market breadth was overwhelmingly positive, with 280 stocks rising against 73 decliners on the Ho Chi Minh City Stock Exchange. Within the VN30 basket, 26 stocks gained while only three fell.
Energy stocks led the rally, supported by higher global oil prices. Shares of PetroVietnam Gas (GAS), Petrolimex (PLX) and Binh Son Refining and Petrochemical (BSR) hit their daily upper limits. GAS alone added 3.81 points to the VN-Index.
Property and banking stocks also provided significant support. Vingroup (VIC) and Vinhomes (VHM) were among the top contributors, while major lenders Vietcombank (VCB) and BIDV (BID) lifted the index further.
In contrast, technology firm FPT was the largest drag on the benchmark.
Liquidity remained robust, with total matched orders reaching VND23.5 trillion (904 million). However, foreign investors were net sellers, offloading nearly VND1.1 trillion (US$42.3 million) worth of shares.
On the Hanoi Stock Exchange, the HNX-Index gained 1.86% to close at 261.83.