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 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, 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 dong, 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 dong, 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 dong.
While MSN did not receive as much net foreign buying as FPT, it was the stock with the highest liquidity in the market this morning, reaching 1,100.8 billion dong, equivalent to 13.9 million units. MSN’s price increased by 3.51%. Approximately 4.6 million shares were bought by foreign investors, constituting one-third of the total trading volume, with a corresponding net value of 267.1 billion dong.
FPT is currently the third-largest market capitalization stock in the VN-Index, while MSN is smaller, ranking 15th. Nonetheless, their substantial price increases 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 dong in matched orders, implying that the rise in liquidity on the HoSE and in 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’s liquidity growth and 93% of the VN30’s.
Aside from the aforementioned prominent blue-chips, the market also observed several stocks with positive trading dynamics, albeit without similar liquidity surges. DGC, SSI, HDB, FRT, VNM, CMG, LPB, and others experienced significant price increases on relatively high liquidity. The remaining strongest gainers mostly belonged to the small and mid-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 for the index, as it touched an intraday high of nearly 21.3 points (+0.97%). 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%, down 1.17%. BID fell by 0.9%, ending with a 0.1% gain. CTG dropped by 1.09%, closing with a 0.42% increase. HPG declined by 0.9%, reversing into a 0.18% loss. TCB fell by 0.6%, but 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%, and MSN almost 1%.
The sudden strong upward movement may encourage investors to sell more. In reality, the 1300-point level remains a haunting memory for many. The VN-Index touched an intraday 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 matched liquidity of the two exchanges increased by 34% compared to yesterday morning, reaching 9,587 billion dong, the highest in the last five morning sessions. Moreover, the supporting force maintained a good price-volume correlation, with the HoSE still having 201 gainers versus 135 losers. Almost all the losers were very slight, and among the 30 stocks that declined by more than 1%, only D2D had slightly higher liquidity, matching 21.8 billion dong at a price of 1.97 dong. The remaining stocks, including CTF, TCO, BMP, and DVP, which had the highest trading volume after D2D, only matched a few billion dong.
Foreign investors significantly increased their investment this morning, with a net buy value of 1,173.2 billion dong on the HoSE, including a net buy of 413.7 billion dong. This was the highest investment level in the past five weeks. The buying focused on FPT, MSN, and TCB, with 93.2 billion dong. On the selling side, STB, VPB, VHM, and MWG stood out, with net sales of -42.7 billion, -26.5 billion, -26.2 billion, and -20.8 billion dong, respectively.
The Flow of Funds: Will the Market Break Through After Consecutive Failures at the 1300-Point Peak?
Over the past five trading sessions, the VN-Index has witnessed two attempts to breach the 1300-point mark, yet it fell short of success. The notable surge in trading volume during these failed attempts leaves a vivid impression of distribution activities.
The Ever-Rising Bridge Tolls: A Costly Commute
Although the VN-Index only slightly increased by 3.24 points (+0.25%) during the morning session, the index traded above the reference level for most of the time, with a positive market breadth. This is a result of buying power pushing the market to higher price levels. Blue-chips are leading the gains and dominating market liquidity, accounting for more than half of the total trading volume.
The Capital Flows In: MSN and FPT Witness Billion-Dollar Liquidity
A surge in trading activity this morning saw a 34% jump in liquidity across both exchanges compared to yesterday, with the breadth indicating a widespread rally. However, the money flow was not evenly distributed, but rather concentrated on a handful of strong stocks. FPT and MSN, for instance, witnessed massive buying interest from both domestic and foreign investors, accounting for 23.2% of the total matched value on the HoSE and nearly 37% of the VN30 basket.
The Bottom Fishing Trap: A Deep Value Investing Strategy
Patience among sidelined funds snapped any recovery rhythm today. Only when prices plunged did larger waiting orders emerge. Liquidity remains extremely low after last weekend’s session, which could be considered a positive sign as those most eager to cut losses have already exited.
The Ultimate Guide to HOSE Q3 2024: VPS Plunges Further, While Vietcap and VNDIRECT Swap Spots
The Ho Chi Minh City Stock Exchange (HOSE) has released its top 10 brokerage market share report for the third quarter of 2024, revealing a shuffle in rankings. Vietcap has overtaken VNDIRECT, while FPTS enters the top 10, replacing VCBS.
