On the morning of August 7, the stocks of Vingroup, Vinhomes, Vincom Retail - commonly known as the "Vin group" - of billionaire Pham Nhat Vuong all increased sharply, at many times reaching the maximum allowed margin of +7%.

In particular, Vinhomes shares (VHM) were continuously maintained at the ceiling price, increasing by VND2,350 to VND37,200/share, despite strong selling pressure. Vingroup shares (VIC) also increased by VND2,200 to VND43,500/share. Vincom Retail shares (VRE) at times increased by VND1,500 to VND18,150/share.

The strong increase in Vin stocks helped the market open the trading session on August 7 quite well. The VN-Index increased by more than 4 points, to over 1,214 points, after recovering more than 22 points in the previous session, August 6.

Some bank stocks also maintained their green color. BIDV shares (BID) increased by 300 VND, to 47,050 VND/share. Saigon Hanoi Bank (SHB) of Mr. Do Quang Hien and TPBank (TPB) increased slightly.

Vietnam’s stock market rebounded for the second consecutive session after a nearly 50-point plunge on August 5. Vietnamese stocks recovered amid positive Asian stocks and earlier the US stock market rebounded after a shock decline. Unexpectedly bad data on the labor market made investors doubt that the US economy could be in for a hard landing because the US Federal Reserve (Fed) has kept interest rates too high for too long.

Billionaire Pham Nhat Vuong's Vin group of stocks jumped after Vinhomes announced unusual information in the Resolution dated August 7 on the expected repurchase of up to 370 million shares, equivalent to 8.5% of the company's total outstanding shares.

Billionaire Pham Nhat Vuong's company explained that the market price of Vinhomes shares "is lower than the actual price of the company, so the stock buyback is to ensure the interests of the company and shareholders."

Expected time of repurchase after approval by the State Securities Commission. Purchase method: order matching or negotiation.

Vinhomes (VHM) shares hit the ceiling price of VND37,200/share and VRE shares hit VND18,150/share, as well as Vingroup's strong increase, helping the stock market continue to flourish. By 9:40 a.m., the VN-Index had increased by more than 7 points to 1,217 points.

Previously, Vinhomes shares had experienced a sharp decline. A year ago, VHM shares were at over VND60,000/share. Vingroup shares have also fallen from around VND73,000/share a year ago to the current level of VND41,000-42,000/share.

VRE decreased from over 30,000 VND/share in early August 2023 to 17,000 VND/share as recently.

In recent years, the sluggish real estate market has had a significant impact on the real estate group. Vinhomes still recorded good business results thanks to wholesale sales at large projects. However, real estate prices are increasing again and people's demand is weak... along with new regulations under real estate-related laws that may affect the prospects of businesses in this industry.

Billionaire Pham Nhat Vuong's Vingroup is also focusing on electric car company VinFast. Vingroup has invested a total of 2.6 billion USD in the electric car company and lent more than 2 billion USD. Loans to VinFast account for more than 77% of Vingroup's total loans to its subsidiaries.

Although the Vietnamese stock market has shown positive signs, liquidity remains low and foreign investors are still selling quite strongly.

Many investors are still worried about the instability in the global financial market as well as geopolitical tensions in the Middle East as Israel and Iran are on the verge of war. Domestic and international developments may also affect the Vietnamese stock market.

However, there are still many positive reports. Mr. Barry Weisblatt David - Director of VNDirect Securities Analysis - said that the sharp market declines create good buying opportunities. According to him, from now until the end of the year, the VN-Index can reach 1,350-1,400 points.

Billionaire Pham Nhat Vuong suddenly has an additional 2,500 billion, many tycoons are at their richest . Billionaire Pham Nhat Vuong's assets suddenly increased sharply, while many Vietnamese tycoons recorded stocks reaching historical peaks even though foreign investors still net sold billions of dollars, the market was quite quiet.