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, the money flow was not well dispersed, focusing 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 value on the HoSE and nearly 37% of the VN30 basket.
Money is chasing stocks that are expected to report breakthrough business results for Q3 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 performance.
FPT closed 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’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, accounting for one-third of the total trading volume, with a corresponding net value of 267.1 billion VND.
FPT is currently the third-largest capitalization stock in the VN-Index, while MSN is smaller, ranking 15th. Nonetheless, their substantial price gains positively impacted the index, 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 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 witnessed several actively traded stocks, albeit without similar liquidity spikes. DGC, SSI, HDB, FRT, VNM, CMG, and LPB all experienced significant price gains on relatively high 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 up 7.84 points, or 0.61%. This was not the best gain for 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-caps witnessed price retracements, such as VCB, which lost 1.29% from its peak, closing the morning up 0.88%; VHM reversed into 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 declined 0.9% to a 0.18% loss; TCB fell 0.6% to a 0.81% gain; and GAS slipped 0.41% to a 0.83% gain. These stocks are all among the Top 10 market capitalization. FPT and MSN also retreated, with FPT giving back 0.28% and MSN nearly 1%.
The sudden sharp rise in prices may encourage investors to sell more. In fact, the 1300-point level remains a haunting memory for many, as the VN-Index peaked at 1,294.33 points this morning. However, the inflow of buying interest was also impressive, particularly inspired by the performance of MSN and FPT. The matched liquidity in the two markets increased by 34% compared to yesterday morning, reaching 9,587 billion VND, the highest in the past five morning sessions. Moreover, the supporting demand maintained a good price correlation, with the HoSE still having 201 gainers versus 135 losers. Almost all the declines 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. As for CTF, TCO, BMP, and DVP, which had the highest trading volume after D2D, their turnover was only a few billion.
Foreign investors this morning sharply increased their investment on the HoSE to 1,173.2 billion VND, including a net buying value of 413.7 billion VND. This was the highest investment level in the past five weeks. The buying focused on FPT, MSN, and additionally, TCB, with a net purchase of 93.2 billion VND. On the selling side, STB, VPB, VHM, and MWG saw net selling values of -42.7 billion VND, -26.5 billion VND, -26.2 billion VND, and -20.8 billion VND, respectively.
