The stock market observed a significant surge in Vingroup (VIC) and Vinhomes (VHM) stocks during the first trading session of the week, despite rising tensions in the Middle East. Both stocks increased sharply, with VIC hitting the ceiling price and VHM closing up by 5.4%. This was an unexpected development as both stocks were in a correction phase after reaching long-term peaks, especially following a turbulent ETF restructuring period. Contrary to forecasts, strong capital inflows pushed both stocks past previous pressures. Since the beginning of the year, VIC and VHM have risen by 130% and 85% respectively, ranking among the best-performing stocks on the exchange with market capitalizations of 350 trillion VND and 300 trillion VND. Vingroup Chairman Pham Nhat Vuong has also made significant stock transfers to invest in subsidiary companies, thereby increasing his ownership in Vingroup.
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