Vietnam’s benchmark VN-Index surpasses 1,400 points, sending investors into emotional frenzy

The market upswing, driven by the strong gain of bank and securities stocks, sparked an outpouring of emotion among investors.

The benchmark index surged by over 15 points from the previous session to 1,402.06 points, breaking through the critical resistance level of 1,400 points.

Trading was vibrant, with foreign investors actively participating on both the buy and sell sides.

The VN-Index first crossed the 1,400-point mark on July 2, 2021, when it reached an all-time high of 1,420.27 points, the highest level in 21 years of the index’s history.

The Monday trading session saw 11 of 19 industry groups on the southern bourse end up.

Stocks in the banking, securities, material, and information technology fields significantly contributed to the rise of the index.

Seven of the top 10 contributors were bank stocks, including CTG, BID, VPB, SHB, HDB, MBB, and ACB.

The remaining top performers included major names in real estate, technology, and steel, specifically VIC, FPT, and HPG.

The standout performer of the day was SHB as more than 250 million SHB shares changed hands, equivalent to over VND3.5 trillion (US$133.6 million) in value, leading the market in trading volume.

At the end of the session, SHB hit its daily upper limit.

Meanwhile, retail, food, insurance, transportation, and oil and gas stocks suffered losses.