A surge in trading activity this morning boosted the matched order liquidity of the two exchanges by 34% compared to yesterday morning, with the breadth of the market indicating a widespread upward trend. However, the money flow was not evenly distributed and was instead focused on a select group of strong stocks. FPT and MSN attracted enormous demand from both domestic and foreign investors, accounting for 23.2% of the total matched order value on the HoSE exchange and nearly 37% of the VN30 basket.
The money flow is seeking out stocks with anticipated exceptional financial results for Q3 2024. Most of the stocks that surged this morning had their profits projected by securities companies in advance. Although the HoSE floor had 201 rising stocks and 135 falling ones, only 45 stocks in the rising group had gains of more than 1%. FPT and MSN were the most prominent in terms of trading activity.
FPT closed this morning’s 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 threshold 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 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 corresponding net value of 267.1 billion VND.
FPT is currently the third-largest capitalization stock of the VN-Index, with MSN in 15th place. Nonetheless, the substantial increase in their stock prices has had a positive impact on the index, with the two stocks contributing approximately three points to the index’s total increase 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 liquidity increase on the HoSE floor and in the VN30 basket was largely due to these two stocks. Specifically, the liquidity increase in MSN and FPT accounted for 76% of the HoSE floor’s liquidity increase and 93% of the VN30 basket’s liquidity increase.
Aside from the aforementioned prominent blue-chips, the market also witnessed several stocks with positive trading dynamics, albeit without similar liquidity spikes. DGC, SSI, HDB, FRT, VNM, CMG, and LPB all experienced significant price increases on relatively high liquidity. The remaining stocks with the strongest gains 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 with a gain of 7.84 points, or 0.61%. This was not the best performance for the index, as it had risen by nearly 21.3 points (+0.97%) during the session. In the latter half of the session, the upward momentum eased slightly due to profit-taking activities. Several large-cap stocks witnessed price declines, such as VCB, which fell by 1.29% from its peak, closing the morning session with a 0.88% gain. VHM reversed its gains to close 0.24% lower, BID fell by 0.9% to a 0.1% increase, CTG dropped by 1.09% to a 0.42% gain, HPG declined by 0.9% to a 0.18% loss, TCB fell by 0.6% to a 0.81% gain, and GAS slipped by 0.41% to a 0.83% increase. These stocks are all among the top 10 in terms of market capitalization. FPT and MSN also retreated, with FPT giving back 0.28% and MSN nearly 1%.
The sudden strong upward movement may encourage investors to sell more. In fact, 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 order 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 demand maintained a good price correlation, with the HoSE floor still having 201 gainers and 135 losers. Almost all the declines were minor, and among the 30 stocks falling by more than 1%, only D2D had slightly higher liquidity, matching 21.8 billion VND at a price of 1.97 VND. The remaining stocks, including CTF, TCO, BMP, and DVP, which had the highest trading volume after D2D, only matched a few billion each.
Foreign investors this morning significantly increased their investment on the HoSE exchange, with a net buy value of up to 1,173.2 billion VND, including a net buy of 413.7 billion VND. This was the highest investment threshold in the past 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 were the notable stocks, with net selling values of -42.7 billion VND, -26.5 billion VND, -26.2 billion VND, and -20.8 billion VND, respectively.
