Vingroup Stocks Surge After Turbulent ETF Restructuring

In the first trading session of the week, Vingroup shares (VIC) and Vinhomes (VHM) remarkably surged amidst a generally declining market. VIC hit the ceiling price while VHM rose by 5.4%. Both stocks had just gone through a turbulent ETF restructuring phase and experienced significant sell-offs before the final restructuring day due to fund selling pressure. However, by the end of the session, there was a strong inflow into both shares. Year-to-date, VIC has risen nearly 130% and VHM 85%, ranking among the strongest performers on the exchange, with market capitalizations of 350 trillion VND and 300 trillion VND, respectively, second only to Vietcombank. Additionally, Vingroup Chairman Phạm Nhật Vượng transferred over 70 million VIC shares to raise capital for subsidiaries, including VinEnergo and Vinspeed.