After several sessions of relatively severe drop, many pillar stocks climbed again in the morning session on February 28, with the VN-Index near to the threshold of 1,020 points on February 27, substantially lower than the level of 1,520 points at the end of March 2022.
The VN-Index rose by 7-10 points on February 28 morning.
Vincom Retail (VRE) stocks of billionaire Pham Nhat Vuong have occasionally grown to a maximum of VND 27,550 per one. Vingroup (VIC) and Vinhomes (VHM) stocks rose somewhat as well.
Apart from Techcombank (TCB), banking stocks in the VN30 group have all recovered after a period of decline.
Stocks rose dramatically in response to the fact that many investors anticipated that some large enterprises on the exchange would be able to turn around capital to address current issues such as declining cash flow, a large debt burden, and a quiet real estate market with numerous potential risks.
Mr. Bui Thanh Nhon’s Novaland recently traded shares with international partner Dallas Vietnam Gamma Ltd. to cancel the bond lot of VND 4,600 billion, decreasing the debt burden.
Regarding the handling of domestic bond debt, Novaland has been balancing and attempting to propose possible options to bondholders, such as payment of due interest, an extension of payment term of the bond principal at a suitable time, or swapping the bond principal and interest with real estate products invested and developed by the company.
Many investors also anticipate major corporations to be able to turn around capital to tackle the current problems, while international investors continue to be optimistic about Vietnam’s future.
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