Stocks rally as bank shares change hands at record levels

The VN-Index experienced its biggest drop of the year today (31/1), closing down over 15 points. Trading volume surged due to profit-taking pressure, mainly focused on the banking sector. SHB saw a record high turnover with over 127 million shares changing hands.


The main reason why the VN-Index lost the most points today was due to the overall correction of the banking group. VCB, BID, CTG, SHB… were the most negatively affected stocks that dragged down the index. On HoSE, all stocks were in the red. SHB was heavily sold, with 127 shares changing hands. This is a record trading volume, higher than the liquidity of the next 3 stocks, SSI, VIX, STB. At the end of the trading session, SHB decreased by 5.7% to 11,600 VND per share, the largest decline in the banking group today.

The remaining stocks had common declines of 2-3%, such as MSB, TPB, STB, VCB, OCB, EIB… The overall reversal of banking stocks made it difficult for the index. Only 2 out of 27 stocks remained in the green, with slight increases around the reference.

Banking stocks were the main reason for the VN-Index’s loss of points.

Along with the banking group, large-cap stocks, including the VN30 basket, were also in the red. 26 out of 30 stocks declined. VRE decreased by 4.1%, GVR, MSN decreased by over 2%. Strong selling pressure caused nearly 400 HoSE stocks to drop.

Not only large stocks, but small and medium stocks also corrected, with a widespread selling momentum. DLG, HNG, MHC hit the floor. HAG also decreased by 5%. Regarding HAG, the daughter of Chairman of Hoang Anh Gia Lai Board registered to sell 2 million HAG shares.

Ms. Doan Hoang Anh – the daughter of Chairman of Hoang Anh Gia Lai Board – registered to sell 2 million HAG shares through matching orders on the exchange. The transaction will be executed from February 5th to March 4th. The reason for the sale is personal financial management. Previously, Ms. Dang Hoang Anh owned 11 million HAG shares, accounting for 1.19%. After the transaction, the number of shares held by Ms. Hoang Anh decreased to 9 million, accounting for 0.97%. At the current price, if the sale is successful, Ms. Anh can receive around 28-29 billion VND.

In the market correction session, against the overall downward trend, securities stocks had notable trading activity. The profit-taking money flowed into other stocks, with signs of flowing into securities stocks. SSI led the market liquidity, reaching 1,557 billion VND. The stock closed up 0.73% to 34,400 VND per share. VIX, VCI also made it to the high liquidity group, with slight price increases. In the securities group, FTS increased by 5.6%, MBS increased by 3.2%, CTS, VDS also increased.

At the end of the trading session, VN-Index decreased by 15.34 points (1.3%) to 1,164.31 points. HNX-Index decreased by 1.48 points (0.64%) to 229.18 points. UPCoM-Index decreased by 0.16 points (0.18%) to 87.69 points. Trading volume increased sharply due to profit-taking pressure, with a trading value on HoSE of over 21,280 billion VND.

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