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 orders on the HoSE and nearly 37% of the VN30 basket.
The money is chasing stocks anticipated to report breakthrough earnings 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 decliners on the HoSE, only 45 stocks rose by more than 1%. FPT and MSN were the most prominent.
FPT ended the morning session at 140,900 dong, 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 dong, equivalent to nearly 7.41 million shares changing hands, the highest trading volume since early September. Foreign investors purchased 2.25 million units, accounting for over 30% of the total volume. The net buying value amounted to 286.4 billion dong.
While MSN did not receive as much net buying from foreign investors as FPT, it was the market’s most liquid stock this morning, with a turnover of 1,100.8 billion dong, corresponding to 13.9 million units. MSN rose by 3.51%. Approximately 4.6 million shares were bought by foreign investors, constituting one-third of the total volume, with a net value of 267.1 billion dong.
FPT is currently the third-largest market cap stock in the VN-Index, while MSN is smaller, ranking 15th. Nonetheless, their substantial gains positively impacted the index, contributing approximately three points to its overall increase of 7.84 points this morning. In terms of liquidity, compared to yesterday morning, MSN and FPT’s combined turnover increased by approximately 1,875 billion dong, implying that the improved liquidity on the HoSE and in the VN30 basket was primarily driven by these two stocks. Specifically, the liquidity increase in 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 witnessed substantial price increases on relatively high volume. The remaining strongest gainers mostly belonged to small and mid-cap stocks with low liquidity, such as VFG, APG, CNG, HAG, and LHG…
The VN-Index closed the morning session up by 7.84 points, or 0.61%. This was not the best gain for 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 large-caps witnessed price retracements, such as VCB, which lost 1.29% from its peak, ending the morning up by only 0.88%. VHM reversed to a slight loss of 0.24%, down 1.17%. BID fell by 0.9%, ending with a minimal gain of 0.1%. CTG dropped by 1.09%, finishing up by 0.42%. HPG declined by 0.9%, reversing to a loss of 0.18%. TCB fell by 0.6%, ending with a gain of 0.81%. GAS slipped by 0.41%, closing up by 0.83%. These stocks are all among the Top 10 market caps. FPT and MSN also retreated, with FPT giving back 0.28%, and MSN almost 1%.
The sudden 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 peaked at 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 in the two markets 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 correlation, with the HoSE still having 201 gainers versus 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 dong at 1.97 dong per share. The remaining stocks, including CTF, TCO, BMP, and DVP, which traded the most after D2D, had turnovers of just 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 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.
