Vietnam stock market faces resistance as Vingroup hits record capitalization

Vietnam stock market VN-Index Vingroup corporate bonds foreign investors

The Vietnamese stock market entered September following a strong August, where the VN-Index rose approximately 5.55%. As the index approaches key resistance levels between 1,850 and 1,900 points, analysts suggest potential profit-taking could lead to a correction toward the 1,800 support level.

On September 3, the market experienced volatility. While the VN-Index saw a slight decrease of 4.4 points to close at 1,827.72, individual stocks showed divergent trends. Vingroup (VIC) saw its stock hit a record high, driving its market capitalization to an unprecedented 1.9 quadrillion VND. Conversely, the banking sector faced significant pressure, with major stocks like VCB, TCB, and VPB declining.

Foreign investors recorded a net sell-off of over 1,562 billion VND across three exchanges. In the corporate bond market, August saw nearly 29,000 billion VND in issuances, heavily dominated by the banking sector as institutions sought to bolster Tier 2 capital. Additionally, SeABank (SSB) gained significant attention after being included in the FTSE Global All Cap Index, with its stock hitting the ceiling price for two consecutive sessions.

Entities

Federal Reserve · HoSE · Kirin Securities · SeABank · Techcombank · VN-Index · Vietnam Bond Market Association · Vingroup

Claims

What the coverage asserts, and how many sources carry each claim.

[● 2 SOURCES] VN-Index increased by approximately 5.55% compared to the end of July htv.vn · thuonggiaonline.vn
[○ 1 SOURCE] The index P/E ratio is currently around 12.46 times thuonggiaonline.vn
[○ 1 SOURCE] Corporate bond issuances reached nearly 29,000 billion VND in August kinhdoanhvaphattrien.vn
[○ 1 SOURCE] The 1,843 to 1,850 point range is considered near-term resistance htv.vn
[○ 1 SOURCE] Banks raised nearly 24,000 billion VND kinhdoanhvaphattrien.vn
[○ 1 SOURCE] The VN-Index reached 1,832.12 points htv.vn
[○ 1 SOURCE] The banking group successfully completed 23 out of 28 bond issuances kinhdoanhvaphattrien.vn