A surge in trading activity this morning pushed the matched liquidity of the two exchanges up by 34% compared to yesterday morning, with the breadth indicating a widespread rise in prices across the board. However, the money flow was not evenly distributed and was concentrated on a group of strong stocks. FPT and MSN received 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 that are anticipated to have breakthrough financial results in 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 exchange, only 45 stocks rose by 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 compared to 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, accounting for one-third of the total trading volume, with a corresponding net value of 267.1 billion VND.
Currently, FPT is the third-largest capitalization stock of the VN-Index, while MSN is smaller, ranking 15th. 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 have witnessed an increase of approximately 1,875 billion VND in matched orders, implying that the rise in liquidity on the HoSE exchange and in the VN30 basket is largely attributable to these two stocks. Specifically, the increase in liquidity of MSN and FPT accounts for 76% of the rise in liquidity on the HoSE exchange and 93% on the VN30 basket.
Aside from the aforementioned prominent blue chips, the market also observed 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 stocks with the strongest gains 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%) during the session. In the latter half of the session, the upward momentum eased slightly due to profit-taking activities. Several pillars retreated notably: VCB fell by 1.29% from its peak, closing the morning session with a gain of 0.88%; VHM reversed into a slight loss of 0.24% after falling by 1.17%; BID dropped by 0.9% to a 0.1% gain; CTG fell by 1.09% to a 0.42% increase; HPG declined by 0.9%, reversing into a 0.18% loss; TCB fell by 0.6% to a 0.81% gain; GAS slipped by 0.41%, ending with a 0.83% increase. These stocks are all among the Top 10 market capitalization. FPT and MSN also pulled back, with FPT giving back 0.28% and MSN nearly 1%.
The unexpected sharp rise in prices may encourage investors to sell more. In fact, the 1300-point threshold remains a haunting memory for many. 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 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 and 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 volume was only a few billion.
Foreign investors this morning significantly increased their investment on the HoSE exchange, with a net purchase of 413.7 billion VND out of a total investment of 1,173.2 billion VND. This level of investment is the highest in five weeks. The buying focus was on FPT, MSN, and additionally, TCB, with 93.2 billion VND. 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, respectively.
