A surge in trading activity this morning boosted the matched liquidity of the two exchanges by 34% compared to yesterday morning, with the breadth indicating that the upward momentum spread across the board. However, the money flow was not evenly distributed and instead focused on a 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 value on the HoSE exchange and nearly 37% of the VN30 basket.
The money flow is seeking out stocks with anticipated exceptional earnings for the third quarter of 2024. Most of the stocks that surged this morning had their profits projected by securities companies in advance. Although there were 201 gainers and 135 losers on the HoSE exchange, only 45 stocks rose by more than 1%. FPT and MSN stood out with their remarkable trading activities.
FPT closed the morning session at 140,900 VND, officially setting a new all-time high with a 4.06% increase from the reference price. The blue-chip’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 bought 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 price increased by 3.51%. Approximately 4.6 million shares were purchased by foreign investors, constituting one-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, while MSN is smaller, ranking 15th. Nonetheless, the substantial price increase positively impacted the index, with these 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 witnessed an increase of approximately 1,875 billion VND in matched orders, implying that the rise in liquidity on the HoSE exchange and the VN30 basket was primarily 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 expansion.
Apart from the aforementioned prominent blue-chips, the market also witnessed several stocks with positive trading dynamics, albeit without a similar surge in liquidity. DGC, SSI, HDB, FRT, VNM, CMG, and LPB all experienced significant price increases on relatively high liquidity. 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 had risen by 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 pillars witnessed price declines, such as VCB, which lost 1.29% from its peak, closing the morning session with a 0.88% increase. VHM reversed into a slight loss of 0.24% after falling 1.17%. BID fell by 0.9%, ending with a 0.1% gain. CTG dropped by 1.09%, finishing with a 0.42% increase. HPG declined by 0.9%, reversing into a 0.18% loss. TCB fell by 0.6%, yet it still managed a 0.81% gain. GAS slipped by 0.41%, closing with a 0.83% increase. FPT and MSN also retreated, with FPT giving back 0.28%, while MSN returned nearly 1%.
The unexpected sharp rise in prices may encourage investors to sell more. In reality, the 1300-point level remains a haunting memory for many, as the VN-Index touched 1,294.33 points at its peak this morning. Nevertheless, the buying power was also impressive, particularly inspired by the performance of MSN and FPT. The matched 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 price correlation, with the HoSE exchange still having 201 gainers versus 135 losers. Almost all the losers declined slightly, 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. As for CTF, TCO, BMP, and DVP, which had the highest trading volume after D2D, their transactions were still in the range of a few billion VND.
Foreign investors significantly increased their investment this morning, with a net buy value of 1,173.2 billion VND on the HoSE exchange, including a net buy of 413.7 billion VND. This level of investment is the highest in five weeks. The buying focus was on FPT, MSN, and additionally, TCB, with a net buy value of 93.2 billion VND. On the selling side, STB, VPB, VHM, and MWG stood out with net selling values of -42.7 billion VND, -26.5 billion VND, -26.2 billion VND, and -20.8 billion VND, respectively.
