Vietnam’s stock market recovering fast, strongly

Hanoi [Vietnam], August 4 (ANI/WAM): Vietnam’s stock market is witnessing the fastest and strongest recovery since the beginning of this year, as the VN-Index has surpassed the threshold of 1,200 points, state news agency (VNA) reported.

Most stocks have risen significantly compared to the end of 2022, and the list of enterprises with a capitalisation of over USD 10 billion expanded.

At the end of the last trading session of July, the VN-Index reached 1,222.9 points, an increase of 9.17 per cent compared to a month earlier and 21.43 per cent compared to the end of 2022.

VN All share reached 1,206.52 points, up 10.07 per cent from June 2023 and 24.30 per cent from the end of 2022; VN30 reached 1,230.81 points, up 9.59 per cent compared to June 2023 and 22.45 per cent to the end of 2022.

In July, industry indexes recorded growth; some industries gained the highest points in the month, including consumer goods (VNCOND) with an increase of 16.28 per cent; information and technology (VNIT) 14.91 per cent; and real estate (VNREAL) 14.45 per cent compared to June.

The stock market liquidity in July recorded an average trading volume of over 875.52 million shares and an average trading value of 18.269 trillion VND (USD 770 million), down 0.23 per cent in average volume and up 8.17 per cent in average value compared to June 2023.

As of July 31, there were 545 listed securities codes on Ho Chi Minh City Stock Exchange (HOSE) including 393 stocks, the closed-end fund certificates, 13 ETF certificates, and 136 covered warrants. The total volume of listed shares reached over 143.36 billion. The market capitalisation topped 4,870 trillion VND, up 9.11 per cent from the previous month, accounting for more than 94.24 per cent of the total market capitalisation and equivalent to 51.23 per cent of GDP in 2022 (GDP at current prices).

Notably, by the end of July 2023, on HOSE, there were 43 enterprises with a market capitalisation of more than USD 1 billion. Particularly, three have capitalisation of over USD 10 billion, namely the Vietnam Joint Stock Commercial Bank for Foreign Trade (VCB), the Vinhomes Joint Stock Company (VHM), and the Joint Stock Commercial Bank for Investment and Development of Vietnam (BID).

Meanwhile, at the end of 2022, only 37 stocks listed on HOSE had a market capitalisation of more than USD 1 billion and only the VCB got a capitalisation of over USD 10 billion.

Particularly, BID has had a remarkable recovery as of the end of 2022. Earlier, it only ranked fifth in the list of enterprises with the largest market capitaliation on HOSE, behind VCB, VIC, VHM, and GAS.

By the end of July 2023, BID ranked third, only after VCB and VHM. Currently, BID shares are traded around 49,000 VND per share, with a market capitalisation of about 247.36 trillion VND. This is also the highest market price of this stock within the past year.