Business

Shares recover massively on Kitchen God day

SGGP
The psychological impact of the US stock market created motivation for investors to buy shares heavily, helping the VN-Index rebound robustly in the trading session on January 25.
Shares recover massively on Kitchen God day ảnh 1
Before the trading session, investors received positive information from the spectacular rebound of US stock indexes. Specifically, Dow Jones increased by nearly 100 points, or 0.29 percent, to close at 34,364.5 points. The S&P 500 and Nasdaq also turned green with an increase of 0.28 percent and 0.63 percent, respectively.

Positive signals from the US stock market have created more stable psychology for domestic investors. Instead of selling at all costs, the holders actively offered the price above the reference prices. On the other hand, buyers boldly placed orders at high prices.

This move helped most of the stock groups in the market to rally, especially securities and banking groups. The fact that two stock groups of financial sectors simultaneously climbed has created a push, helping the VN-Index to rise vertically at the end of the trading session.

Vietnam’s benchmark VN-Index regained 39.87 points, or 2.77 percent, to close at 1,479.58 points, with 304 gainers, 150 decliners, and 40 unchanged stocks.

The stocks that made a significant contribution to the VN-Index's rally on the day of the Kitchen God included BID, CTG, GVR, HDB, PDR, POW, MSN, VRE, VPB, HPG, VHM, TPB, VCB, TCB, SSI, and STB.

On the contrary, the group of losing stocks continued to have the presence of the three most popular stocks in the market, namely FLC, ROS, and CII. These three stocks hit bottom with a large volume of oversold shares at the floor prices.

However, contrary to the bullish sentiment on the market, market liquidity unexpectedly dropped with 751 million shares matched, equivalent to more than VND22.21 trillion.

The upbeat sentiment also returned to the Hanoi Stock Exchange when two indexes of this floor rebounded at the end of the trading session. Specifically, the HNX-Index surged by 9.47 points to 410.23 points, and the UPCoM-Index edged up by 1.32 points to 108.03 points.

By Hai Ho – Translated by Thuy Doan

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