After a significant drop in October, the VN-Index has rebounded to 1,700 points thanks to the strong growth of Vingroup’s stocks. VIC, owned by billionaire Pham Nhat Vuong, has surged, contributing 222 points to the VN-Index, alongside other stocks VHM, VPL, and VRE, bringing the total contribution to 320 points. In this period, the VN-Index has only increased by 435 points. Other stocks like VHM and VRE saw increases of 160% and 100% respectively, while VPL increased by 40%. The Vingroup group now boasts a market capitalization of 1.7 million billion VND, accounting for nearly a quarter of the entire HoSE market value. However, many other large stocks still face significant price declines, resulting in market imbalance. Predictions suggest a positive trend in December, with several favorable indicators for growth. Some experts anticipate the VN-Index could reach 3,200 points by 2028, driven by impressive corporate profit growth and the market’s upgrade.
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