The Stock Market Blues: HNX Slump in July 2024

The Hanoi Stock Exchange (HNX) reported a decline in the HNX Index's liquidity and stock prices in July 2024 compared to the previous month.

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Source: HNX

The HNX index witnessed a significant decline in the latter half of July, closing at 235.36 points (a decrease of nearly 1% from the previous month). Meanwhile, the average trading volume was nearly 60 million shares per session (a drop of over 25%), corresponding to an average trading value of 1,270 billion VND per session (a 21% decline).

Thus, in July, trading on the stock market for listed stocks on HNX experienced a decrease in both liquidity and stock prices compared to the previous month.

The HNX30 group of stocks had a total trading volume of over 822 million shares, equivalent to a trading value of nearly 21 trillion VND, accounting for 60% of the volume and over 71% of the market’s trading value.

In terms of liquidity, the SHS stock of Hanoi-Sai Gon Securities Joint Stock Company continued to be the most actively traded stock in July 2024, accounting for 13% of the market’s trading volume, equivalent to over 185 million shares traded. This was followed by CEO stock of C.E.O Group Joint Stock Company, with a trading volume of over 94 million shares, accounting for 6.6% of the market.

Regarding stock prices, the ATS stock of ATS Investment Group Joint Stock Company experienced the strongest increase, with its closing price at the last trading session of July surging by nearly 61% to 20,900 VND per share compared to the previous month. The second-highest gainer was INC stock of IDICO Investment Consulting Joint Stock Company, which rose by nearly 44% to 37,200 VND per share.

Following closely were DHT stock of Ha Tay Pharmaceutical Joint Stock Company, which climbed by over 35% to 71,000 VND per share, and SDC stock of Song Da Consulting Joint Stock Company, which increased by more than 29% to 9,300 VND per share.

After five consecutive months of net buying, foreign investors turned to net selling in July 2024, with a net selling value of over 110 billion VND. They purchased stocks worth 1,465 billion VND and sold stocks worth over 1,575 billion VND.

The stock that foreign investors bought the most was PVS of Vietnam Oil and Gas Technical Services Joint Stock Company, with a trading volume of over 8 million shares, accounting for more than 18%. The second-most purchased stock was PVI of PVI Joint Stock Company, with a trading volume of over 5.4 million shares, accounting for 17%.

In terms of selling, foreign investors sold the most PVI stock of PVI Joint Stock Company, with a trading volume of over 7.6 million shares, accounting for 16%. Following that, they sold IDC stock of IDICO Joint Stock Company, with a trading volume of over 4.5 million shares, equivalent to a ratio of 9%.

In July 2024, the proprietary trading activities of listed stocks on HNX by member securities companies had a trading value of over 295 billion VND (accounting for 1% of the market), a decrease of nearly 7% compared to the previous month. This group net bought over 39 billion VND worth of stocks.

In July 2024, one enterprise delisted its stocks due to restructuring. As of the end of July 2024, the HNX listing market had 313 stock codes with a total listing value of nearly 156 trillion VND. The market capitalization at the last trading session of the month was over 327 trillion VND, a decrease of nearly 1% compared to the end of the previous month.

Huy Khai