A surge in trading activity this morning boosted liquidity in the two exchanges by 34% compared to yesterday morning, with the breadth indicating a widespread rise in stock prices. However, the money flow was not evenly distributed and was concentrated on a group of strong stocks. FPT and MSN received enormous buying interest from both domestic and foreign investors, accounting for 23.2% of the total matched orders on the HoSE exchange and nearly 37% of the VN30 basket.
The money is flowing into stocks that are anticipated to report breakthrough business results for Q3 2024. Most of the stocks that surged this morning had their profits forecasted by securities companies in advance. Although there were 201 gainers and 135 decliners on the HoSE exchange, only 45 stocks rose by more than 1%. FPT and MSN were the most prominent performers.
FPT closed this morning’s session at 140,900 VND, officially setting a new all-time high with a 4.06% gain compared to the reference price. The blue-chip stock’s liquidity reached 1,032.2 billion VND, equivalent to nearly 7.41 million shares changing hands, the highest trading volume since the beginning of September. Foreign investors purchased 2.25 million units, accounting for over 30% of the total trading volume. The net buying value amounted to 286.4 billion VND.
While MSN did not receive as much net buying from foreign investors as FPT, it was the stock with the highest liquidity in the market this morning, reaching 1,100.8 billion VND, equivalent to 13.9 million units. MSN’s share price increased by 3.51%. Approximately 4.6 million shares were bought by foreign investors this morning, accounting for one-third of the total trading volume, with a net value of 267.1 billion VND.
FPT is currently the third-largest market capitalization stock in the VN-Index, while MSN is smaller, ranking 15th. Nonetheless, the substantial increase in their share prices had a positive impact on the index, with the two stocks contributing approximately three points to the index’s total gain of 7.84 points this morning. In terms of liquidity, compared to yesterday morning, MSN and FPT’s trading volume increased by approximately 1,875 billion VND, implying that the rise in liquidity on the HoSE exchange and the VN30 basket was largely driven by these two stocks. Specifically, the increase in liquidity of MSN and FPT accounted for 76% of the HoSE exchange’s liquidity growth and 93% of the VN30 basket’s liquidity improvement.
Aside from the aforementioned prominent blue chips, the market also witnessed several stocks trading positively, albeit without a similar surge in liquidity. DGC, SSI, HDB, FRT, VNM, CMG, and LPB all experienced significant price increases on relatively high trading volumes. The remaining strongest gainers belonged to the mid-and small-cap groups, with low liquidity, such as VFG, APG, CNG, HAG, and LHG…
The VN-Index closed the morning session with a gain of 7.84 points, or 0.61%. This was not the best performance of the index, as it rose to nearly 21.3 points (+0.97%) intra-day. In the latter half of the session, the upward momentum eased slightly due to profit-taking activities. Several large-cap stocks retreated, with VCB falling by 1.29% from its peak, closing the morning session with a 0.88% gain. VHM reversed into a slight loss of 0.24% after dropping 1.17%. BID fell by 0.9% and ended up with a 0.1% increase. CTG declined by 1.09% but still managed a 0.42% gain. HPG dropped by 0.9%, reversing into a 0.18% loss. TCB fell by 0.6% but remained in positive territory with a 0.81% gain. GAS slipped by 0.41%, closing with a 0.83% increase. FPT and MSN also pulled back, with FPT giving back 0.28%, while MSN retraced nearly 1%.
The sharp rise in stock prices may encourage investors to sell more. In fact, the 1300-point level remains a haunting memory for many. The VN-Index touched an intra-day high of 1,294.33 points this morning. Nevertheless, the buying power was also impressive, particularly inspired by the performance of MSN and FPT. The liquidity of the two exchanges increased by 34% compared to yesterday morning, reaching 9,587 billion VND, the highest in the past five morning sessions. Moreover, the supporting buying force maintained a good correlation with prices, as the HoSE exchange still had 201 gainers versus 135 decliners. Almost all the losses were minor, and among the 30 stocks that fell by more than 1%, only D2D had slightly higher liquidity, matching 21.8 billion VND at a price of 1.97 VND. Other stocks like CTF, TCO, BMP, and DVP, which had the highest trading volume after D2D, only matched a few billion VND.
Foreign investors significantly increased their investment this morning, with a net purchase of 413.7 billion VND on the HoSE exchange, reaching a five-week high of 1,173.2 billion VND. The buying focused on FPT and MSN, with additional purchases in TCB worth 93.2 billion VND. On the selling side, STB, VPB, VHM, and MWG stood out, with net sales of -42.7 billion VND, -26.5 billion VND, -26.2 billion VND, and -20.8 billion VND, respectively.
