Vinhomes (VHM) share prices increased by another VND2,350 per share to VND37,200 per share, despite selling pressure. Vingroup share (VIC) prices increased by VND2,200 to VND43,500 per share, while Vincom Retail (VRE) rose by VND1,500 to VND18,150 per share. 

The price hikes of the Vin-family shares contributed to a busy trading session. The VN-Index increased by four points to 1,214 points, after recovering 22 points in the previous trading session, on August 6.

Some bank shares also were lit green on electronic boards. BIDV shares (BID) saw prices increase by VND300 to VND47,050 per share, while Saigon Hanoi (SHB) owned by Do Quang Hien, and TPBank (TPBank) saw slight increases.

As such, the Vietnamese stock market bounced back after the slide on August 5, when the VN-Index dropped by 50 points.

Vietnam’s stocks have recovered amid positive signs of Asian markets. Prior to that, the US stock market indexes had increased again after a sharp fall.

The unexpected statistics about the labor market sparked concerns that the US economy would have a hard landing after the US FED had kept high interest rates for a long time.

Vin-family share prices soared after Vinhomes announced its plan to buy back no more than 370 million shares, equal to 8.5 percent of the company’s shares in circulation.

Vinhomes explained that Vinhomes’ market share prices are lower than the real value of the company and that buying back shares ensures benefits to the company and its shareholders.

Vinhomes share (VHM) prices soared to the ceiling level of VND37,200 and VRE to VND18,150, helping the VN-Index increase by 7 points to 1,217 points.

Prior to that, VHM experienced a sharp fall in previous trading sessions. One year ago, VHM was priced at VND60,000 per share. Vingroup share prices also dropped from VND73,000 one year ago to VND41,000 per share currently, while VRE fell from VND30,000 in early August 2023 to VND17,000 recently.

The gloomy real estate market has affected real estate shares. Vinhomes continues reporting good business results thanks to large projects. However, price increases, weak demand, and new regulations may affect the development of the real estate sector.

Vuong’s Vingroup has injected big money into VinFast, the electric automobile manufacturer. It has invested $2.6 billion in VinFast and lent $2 billion, which accounts for 77 percent of Vingroup’s total loans to its subsidiaries.

Manh Ha