A surge in trading activity this morning boosted liquidity in the two markets by 34% compared to yesterday morning, with the breadth of the advance evident across the board. However, money flow was not well dispersed, focusing instead on a select group of strong stocks. FPT and MSN attracted enormous buying interest from both domestic and foreign investors, accounting for 23.2% of the total matched orders on the HoSE and nearly 37% of the VN30 basket.
Money is flowing into stocks that are anticipated to report breakthrough earnings for the third quarter of 2024. Most of the stocks that surged this morning had their profits projected by securities companies in advance. While the HoSE saw 201 gainers and 135 losers, only 45 stocks in the group that rose above 1% in value. FPT and MSN were the most prominent in today’s session.
FPT ended the morning session at 140,900 VND, officially setting a new all-time high with a 4.06% gain over 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 threshold since the beginning of September. Foreign investors purchased 2.25 million units, accounting for over 30% of the total trading volume. Net buy value reached 286.4 billion VND.
Although MSN did not receive as much net buying interest from foreign investors as FPT, it was the market’s most liquid stock this morning, with 13.9 million units traded for 1,100.8 billion VND. MSN rose 3.51%. Approximately 4.6 million shares were bought by foreign investors this morning, accounting for a third of the total trading volume, with a corresponding net value of 267.1 billion VND.
FPT is currently the third-largest market capitalization stock in the VN-Index, with MSN in 15th place. Nonetheless, the substantial increase in their stock prices has had a very 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 have increased by approximately 1,875 billion VND in matched orders, implying that the increase in liquidity on the HoSE and in the VN30 basket is due to these two stocks. Specifically, the increase in liquidity in MSN and FPT accounts for 76% of the increase in liquidity on the HoSE and 93% in the VN30 basket.
Aside from the aforementioned prominent blue chips, the market also witnessed several actively traded stocks, albeit without similar liquidity spikes. DGC, SSI, HDB, FRT, VNM, CMG, and LPB all experienced significant price increases on substantial volume. The remaining strongest gainers were mostly small and mid-cap stocks with low liquidity, such as VFG, APG, CNG, HAG, and LHG.
The VN-Index closed the morning session up 7.84 points, or 0.61%. This was not the best gain for the index, as it had risen nearly 21.3 points (+0.97%) intra-day. In the latter half of the session, the upward momentum eased and weakened slightly due to increased profit-taking. Several pillars retreated notably, including VCB, which lost 1.29% from its peak, ending the morning session up 0.88%; VHM reversed to a slight loss of 0.24% after falling 1.17%; BID fell 0.9% to a 0.1% gain; CTG dropped 1.09% to a 0.42% increase; HPG fell 0.9% to a 0.18% loss; TCB fell 0.6% to a 0.81% gain; and GAS fell 0.41% to a 0.83% gain. These are all Top 10 market capitalization stocks. FPT and MSN also pulled back, with FPT giving back 0.28% and MSN nearly 1%.
The unexpected sharp rise in prices may encourage investors to sell more. In reality, the 1300-point threshold remains a nightmare for many, as the VN-Index’s peak this morning was 1,294.33 points. Nonetheless, the inflow of money was quite impressive, particularly inspired by the performance of MSN and FPT. Matched orders liquidity in the two markets increased by 34% compared to yesterday morning, reaching 9,587 billion VND, the highest in the last five morning sessions. On the other hand, the supporting buying force also maintained a very good price correlation, with the HoSE still having 201 gainers and 135 losers. Almost all of the losers were very minor, and among the 30 stocks that fell by more than 1%, only D2D had slightly higher liquidity than the rest, matching 21.8 billion VND at a price of 1.97 VND. As for CTF, TCO, BMP, and DVP, the most actively traded stocks after D2D, they only matched a few billion each.
Foreign investors this morning stepped up their investment on the HoSE, with net purchases soaring to 1,173.2 billion VND, including 413.7 billion VND in net buying. This is the highest investment threshold in five weeks. FPT and MSN were the focus of buying activity, along with TCB, which saw 93.2 billion VND in purchases. On the selling side, STB fell by 42.7 billion VND, VPB by 26.5 billion VND, VHM by 26.2 billion VND, and MWG by 20.8 billion VND.
