Stocks hit historic peak, Vietnamese billionaires' assets skyrocket

The trading session on July 11 marked the 8th consecutive increase of VN-Index, closing at 1,457.76 points, up 12.12 points compared to the previous session.

Vietnam's stock market hit a historic peak after just over 3 months of strong V-shaped recovery, increasing 35% from 1,076 points to over 1,450 points. Notably, the VN30 index, representing large-cap stocks, recorded an increase of nearly 25 points, reaching 1,594 points. This is the first time this index has surpassed the old peak of 2021, marking an important milestone in the history of the Vietnamese stock market.

Since the beginning of July, foreign investors have net bought more than 10,000 billion VND on the HoSE floor, with each session's transaction value reaching thousands of billion VND.

Mr. Nguyen Thanh Lam, Director of Research and Analysis Department - Maybank Securities Company, said that P-Notes (investment participation certificates of foreign organizations) cash flow is contributing significantly to strong buying power, often targeting large-cap, high-liquidity stocks.

On the same day, Forbes listed the assets of Mr. Pham Nhat Vuong, Chairman of the Board of Directors of Vingroup , for the first time exceeding 11 billion USD - up to 11.3 billion USD and an increase of about 7 billion USD compared to the beginning of the year, ranking 238th in the list of world billionaires and continuing to be the richest person in Vietnam. Currently, Vietnam has 5 USD billionaires - including Mr. Pham Nhat Vuong, Ms. Nguyen Thi Phuong Thao (2.8 billion USD), Mr. Tran Dinh Long (2.6 billion USD), Mr. Ho Hung Anh (2.4 billion USD) and Mr. Nguyen Dang Quang (1.1 billion USD).

Source: https://nld.com.vn/chung-khoan-lap-dinh-lich-su-tai-san-ti-phu-viet-tang-vot-196250711215657197.htm