Caution dominated the stock market when starting today's trading session (February 27). However, the steel industry group with the trio of HPG, HSG and NKG unexpectedly received a big wave when receiving strong buying momentum. Real estate stocks are also in full bloom after there was good information about legal clearance for many large projects.
Meanwhile, VCB shares are still the main support, although there is a slight narrowing of the increase momentum, it is enough to promote the recovery of VN-Index, surpassing the reference at the end of the session. The VN-Index increased by 4.84 points to 1,307.8 points. Market liquidity also improved with a total trading volume of nearly 893 million units, worth VND18,734 billion. The agreement transactions contributed more than 46.5 million units, worth VND 979.8 billion.
Although VCB shares have only increased by 1.7% to VND 94,000, they are still the largest contributor to the VN-Index with more than 2.3 positive points. According to the latest information, VCB has decided to choose March 13 to finalize the list of shareholders receiving stock dividends at a ratio of 1,000:495 (49.5%), equivalent to VCB issuing more than 2.76 billion new shares and increasing its charter capital from VND 55,890 billion to VND 83,557 billion.
Two steel stocks, HSG and NKG, had a ceiling increase to VND 19,150 and VND 15,450, matching orders that were also among the highest on the floor, reaching VND 33.68 million and VND 28 million, respectively.
The positive momentum of steel stocks has improved after information released at the weekend before the Ministry of Industry and Trade issued a decision on applying temporary anti-dumping taxes on some hot-rolled steel products (HRC) originating from India and China. In today's session, after other industries lacked momentum, cash flow continued to seek this group of stocks.
Despite surpassing 1,300 points, many investors still maintain concern because the index has "failed" many times to meet this resistance level in 2024. However, from the perspective of experts, the market will still have the potential to break out.
Mr. Nguyen Viet Duc, Digital Business Director, VPBank Securities Joint Stock Company (VPBankS) assessed that the wave of increase this time will not stop at 1,300 points. According to experts' forecasts, the VN-Index could reach 1,310 to 1,315 points before a relatively large adjustment. However, investors holding stocks do not need to worry too much. While the international stock market is having a sharp decline, the fact that Vietnamese stocks are still anchored to the 1,300-point zone shows that investor sentiment is quite positive towards the market trend from now until the end of the first quarter of 2025.
Dr. Nguyen Duy Phuong, Investment Director of DG Capital, also has the opinion that although the VN-Index is currently fluctuating around the 1,300 mark, this price increase is very different in both aspects of the macro context, cash flow, stock supply and investor psychology. Therefore, the opportunity for VN-Index to be firmly above the 1,300-point mark this time is much higher than at similar times in 2024. The possibility of fluctuating pressure will appear when the index is in the psychological resistance zone, but whether it retreats below 1,300 to re-evaluate the 1,280 zone or continues to increase to a higher zone such as 1,320 and then adjusts, this expert still believes that in the first quarter of 2025, the VN-Index will firmly surpass the 1,300-point zone thanks to the cash flow flow flow flow flow increasingly strongly.
Regarding the net selling move of foreign investors, experts said that the pressure this year will not be as great as in 2024, because in the world, the USD has decreased, the US economy is still strong but stock valuations are very high.
