The Vietnamese stock market ended the trading session on February 17, 2025 with notable fluctuations. The VN-Index opened up slightly, heading up to the 1,280 point range. However, at the end of the session, the VN-Index turned to decrease, failing to overcome the resistance zone, and finally closed at 1,272.72 points, down 3.36 points.
Cash flow continues to flow into small and medium-cap stocks, helping 14 stocks on HoSE increase the ceiling, including EVF, GEE, VTO, VCR, TMT, BMC, DCD... Of which, EVF achieved liquidity of more than VND 248.5 billion, ranking 15th on the whole floor.
Mineral industry stocks still maintained a strong increase, all in purple. This positive trend has lasted for the past two weeks. In particular, today's session recorded the strongest increase in MTA, MSR, KCB, MGC codes.
The group of textile and steel stocks also traded positively compared to the general performance. In the textile and garment industry, MSH of Song Hong Garment increased by 3.15% to 59,000 VND/unit. In the steel industry, foreign investment increased the most, by 4.7% to VND 8,900/unit. Hoa Phat Group's HPG increased slightly by 0.19% to VND 26,150/unit. enhanced stocks such as HSG (Hoa Sen), NKG (Nam Kim) traded sideways.
HoSE liquidity reached nearly VND17,700 billion, an increase of more than VND2,800 billion compared to the previous session. However, foreign investors continued to net sell about VND600 billion, marking the 11th consecutive session in this trend.
Last week, the market was less volatile as the VN-Index recorded two sessions of decline and three sessions of increase, closing the week at 1,276.08 points, a slight increase of 0.88 points compared to the previous week. This reflects the accumulation period before there was enough momentum to overcome the resistance level of 1,300 points.
According to Mr. Dinh Quang Hinh, Head of Macro and Market Strategy at VNDIRECT Securities Joint Stock Company, the probability of VN-Index surpassing the 1,300-point mark is increasing, although this process may take a long time. "The wave of profit growth in the Q4/2024 financial report of listed companies is creating positive expectations," Mr. Hinh commented.
He added that net profit in the fourth quarter of 2024 increased by nearly 27.8% over the same period last year, bringing profit growth for the whole year of 2024 to 17.6%, of which the HoSE exchange recorded an increase of 16.3%. This reflects the solid recovery of listed enterprises and strengthens investor confidence.
In addition to the internal factor of the enterprise, last week also witnessed important adjustments from the State Bank of Vietnam (SBV). The SBV has raised the USD intervention price from 25,450 to 25,698 VND and adjusted the central exchange rate to 24,572 VND/USD as of February 13, 2025.
These moves demonstrate the State Bank's efforts in operating monetary policy to support the target of higher GDP growth, with an expectation of reaching 8% in 2025. This credit promotion policy is expected to create momentum for banking stocks as well as the stock market in general.
