Nearly 20 bank stocks rose. Support from the market’s largest cap group contributed significantly to the VN-Index’s recovery. BID, TCB, MBB, and SSB led the market rally.
In the securities group, the trio of BSI, FTS, and CTS hit the ceiling, pulling many other codes in the same industry up by more than 3%, including SSI, VDS, AGR, and MBS. Trading of financial codes recovered positively, including the insurance sector. PGI hit the ceiling while BVH, ABI, BMI, and MIG stayed in the green.
Bank group recovers across the board.
In the context of a recovering market, HVN of Vietnam Airlines hit the ceiling. After the airline released its Q2 financial statements, HVN’s performance improved compared to the previous period of heavy selling. In Q2, HVN recorded a pre-tax profit of 1,146 billion VND (compared to a loss of nearly 1,300 billion VND in the same period last year).
Explaining the measures and roadmap to improve the situation of controlled stocks, HVN said that it had completed the restructuring plan for the 2021-2025 period. According to the plan, in 2024-2025, the Corporation will synchronously implement solutions to improve the negative owner’s equity consolidation status.
The steel industry, which was heavily adjusted in the previous session, rebounded. Meanwhile, speculative stocks and small caps remained mixed. HBC continued to fall after receiving delisting notice. In contrast to the sell-off by investors, the older brother of Mr. Le Viet Hai – Chairman of the Board of Directors of HBC – registered to buy 500,000 HBC shares to add to his investment portfolio. The transaction will be done by matching or agreement from August 5 to September 3. It is estimated that Mr. Hung will spend about 2.8 billion VND on this transaction.
Mr. Hung currently owns 857,600 HBC shares (a rate of 0.25%). After completion, the number of owned shares will increase to more than 1.35 million units (a rate of 0.39%). HBC’s market price is at the bottom recorded in the previous COVID-19 period, ending the session at 5,510 VND/share.
At the end of the trading session, the VN-Index increased by 9.64 points (0.79%) to 1,236.6 points. The HNX-Index increased by 2.33 points (1.02%) to 231.56 points. The UPCoM-Index rose 0.25 points (0.27%) to 93.77 points.
Selling pressure eased, liquidity decreased sharply, and the value of matched orders on HoSE fell to 15,666 billion VND. Foreign investors net bought up to 790 billion VND, focusing mainly on VNM.
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