Market Continues to “Give Gifts for Lunar New Year”, Bank Stocks in Positive Rebound

VCB is the only bank that helped restrain the morning gain of VN-Index. However, the banking sector as a whole showed positive recovery, with 8 out of the top 10 gainers belonging to this group. Trading volume also surged, accounting for over 28% of the total trading value on the HoSE floor.

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VCB is the only bank that partially limits the increase of VN-Index this morning. However, the banking group in general is recovering positively, with 8 out of 10 top-gaining stocks belonging to this group. Liquidity also surged with a proportion of over 28% of total trading value on HoSE.

VN-Index closed the morning session up 0.47%, equivalent to +5.46 points. Although not the highest closing level of the session, the retreat amplitude was also insignificant. The upward momentum remained stable throughout the session thanks to the positive return of banking stocks.

CTG rose 4.26%, BID rose 2.45%, TCB rose 3.07%, and MBB rose 2.53%, which were the top 4 performing stocks in this index and all of them were banking stocks. In addition, VIB increased by 2.72%, VPB increased by 0.8%, and ACB increased by 0.76%. These are all stocks in the Top 15 largest market cap group. The entire banking group on the exchanges had only 3 declining stocks: VCB decreased by 0.66%, SSB decreased by 0.66%, and NAB decreased by 0.64%. The rising stocks accounted for 17, with 13 stocks increasing over 1%.

Thanks to the strength of banking stocks, VN30-Index increased significantly by 0.71% this morning, while Midcap increased by 0.11% and Smallcap increased by 0.39%. All banking stocks in the VN30 group, except for VCB, advanced. The breadth recorded 15 stocks gaining and 10 stocks declining. The liquidity of the banking group in the VN30 group this morning also increased by 69% compared to the previous session, and the whole banking group on HoSE increased by 65%.

Money flow signals returning to the banking group and pushing up prices show that investors still expect these stocks to have further increases and the recent correction sessions were just short-term. After 2 sessions last week, money flows into banking stocks sharply dropped below 20% of the total trading value on HoSE, this morning the liquidity ratio of this group surged to 28.4%, the highest level in the past 11 sessions. MBB, CTG, and ACB were the 3 most actively traded stocks, all with trading value over 200 billion dong.

However, the increased money flow in the banking group did not improve the overall liquidity. On the contrary, HoSE’s trading value decreased by about 20% compared to the previous session, equivalent to an absolute decrease of more than 1,683 billion dong. Meanwhile, the trading value in this exchange’s banking group increased by 763.2 billion dong. That means many other stocks have experienced a decline in liquidity.

This is quite unexpected because last week there were clear signs of capital shifting to stocks outside the banking group, and there were some very active transactions. This morning, trading activity subsided despite widespread price increases. It is possible that investors are slowing down as there are only 3 more sessions until the Lunar New Year holiday. This phenomenon is more of a timing issue rather than a decline in expectations.

At the end of the morning session, HoSE had 232 stocks gaining and 196 stocks declining, the difference was not much but the concentrated liquidity in stocks that increased by more than 1% accounted for 29% of the total exchange, although there were only 60 stocks. Of course, banks are still the most prominent stocks, but there are also some strong stocks such as HAH, which increased by 4.44% with a trading value of 219.7 billion dong; NKG increased by 1.03% with 162.9 billion dong; FPT increased by 1.27% with 128.7 billion dong; LCG increased by 3.53% with 80.7 billion dong; GVR increased by 1.22% with 69.1 billion dong; CTR increased by 2.42% with 40.2 billion dong…

On the downside, there were 53 stocks falling more than 1%, but their total trading value accounted for only over 11% of the exchange’s value. There were 13 stocks with trading value over 10 billion dong, led by DIG with 172.9 billion dong traded, down 1.08%; VRE with 119.9 billion dong traded, down 1.35%; HAG with 109.4 billion dong traded, down 2.86%; HBC with 50.9 billion dong traded, down 6.52%.