Although the VN-Index only slightly increased by 3.24 points (+0.25%) by the end of this morning’s session, it remained above the reference level for the entire duration, indicating a positive overall trend. This is a result of investors’ willingness to buy at higher price levels. Blue-chip stocks are leading the way in terms of both index points and liquidity, accounting for more than half of the market.
The trading dynamics continue to exhibit frequent fluctuations, and this morning was no exception. At its peak, the VN-Index rose 4.8 points above the reference level, while at its lowest, it was still up by over 1 point. Thus, the range of fluctuations was relatively narrow, and the breadth of the market was positive, with 192 stocks advancing and 136 declining.
This is a positive development compared to previous sessions, where dips below the reference level occurred. Currently, investors are buying at higher price levels, and selling pressure at lower prices has diminished. At the morning’s close, the VN-Index had 218 gainers and 134 losers, with the advancing stocks accounting for 67% of the total floor volume.
In terms of index points, the blue-chip VN30 stocks are clearly leading the way. The VN30-Index ended the session up 0.41%, while the Midcap and Smallcap indices rose 0.34% and 0.36%, respectively. Out of the blue-chip basket, 16 stocks advanced while 11 declined, and their matched orders accounted for approximately 55.7% of the total matched orders on the HoSE. Excluding MWG, which fell 1.53%, SSI, down 0.91%, and HDB, down 0.92%, all other blue-chip stocks with liquidity exceeding 100 billion VND in the VN30 basket posted gains. Additionally, 9 out of the top 10 stocks contributing the most to the VN-Index were from this basket.
However, in terms of margin, the VN30 group contributed only 4 stocks to the group of stocks that rose by more than 1%, namely ACB (+1.96%), HPG (+1.96%), VHM (+1.56%), and MSN (+1.33%). The HoSE floor still had 58 stocks that rose by more than 1%, mostly from the mid-cap and small-cap groups, but their impact on the index was limited. Several stocks witnessed robust trading and strong inflows, including DBC (+1.88%) with a matched volume of 221.6 billion VND, VTP (+6.41%) with 186.3 billion VND, KBC (+1.99%) with 121.4 billion VND, and HAH (+1.45%) with 113.3 billion VND. Other stocks, such as QCG, SGR, CTR, BMC, SZC, DPG, and KSB, had significantly lower liquidity but still posted gains of over 2%.
At present, the VN-Index’s upward movement has not been substantial enough to trigger a highly enthusiastic market sentiment. While the index may not fully reflect the performance of individual stocks, a strong rise in the VN-Index typically boosts investor confidence. This morning, declines in VCB (-0.55%), BID (-0.1%), GAS (-0.28%), and VNM (-0.44%) weighed down the index. Additionally, CTG, TCB, and VPB, which are banking pillars, lacked strength.
Nevertheless, the selling pressure has significantly eased, especially as investors are reluctant to sell at lower prices. This creates favorable conditions for stock price support. At the end of the session, the VN-Index still had 134 declining stocks, but most of these fluctuations were relatively minor. Only 39 stocks fell by more than 1%, and their trading volume accounted for less than 10% of the market. The majority of the selling pressure was concentrated in MWG, which matched a significant volume of 540.3 billion VND and fell by 1.53%.
Foreign investors are also stepping up their participation, with total buying value on the HoSE increasing by 60% compared to yesterday morning, reaching 751.8 billion VND. The selling value also rose by about 30%, totaling 829.4 billion VND, resulting in a slight net sell-off of 77.6 billion VND. The largest selling orders were in MWG (-123.7 billion VND), STB (-48.2 billion VND), HDB (-47.6 billion VND), SSI (-44 billion VND), VPB (-32.2 billion VND), CTG (-28.3 billion VND), and PVD (-23.6 billion VND). Notable buying orders were observed in HPG (+111.7 billion VND), TCB (+82.3 billion VND), DBC (+42.8 billion VND), and VTP (+20.2 billion VND).
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Despite a modest gain of 3.24 points (+0.25%) in the VN-Index this morning, the index traded above the reference level for most of the session, and the advance-decline ratio was strongly positive. This is a testament to the buying power of investors, who are comfortable with higher price levels. Blue-chip stocks are leading the charge, both in terms of index points and liquidity, accounting for over half of the market’s turnover.
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The enthusiastic upward momentum in the morning triggered short-term profit-taking trades in the afternoon, creating noticeable pressure. The VNI once again climbed close to the 1300 mark, and a defensive stance emerged.
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Individual investors sold a net 71.3 billion VND, including 148.1 billion VND in matched orders. Top stocks sold included HPG, TCB, DBC, VHM, HAH, FPT, FRT, MWG, and EIB.
The Flow of Funds: Consecutive Failures at the 1300-Point Peak, Is There Still a Chance for a Breakthrough?
Over the past five trading sessions, the VN-Index has witnessed two attempts to breach the 1300-point mark, yet it failed to sustain this level. The notable surge in trading volume during these failed attempts leaves a stark impression of distribution activities.
The Capital Flows In: MSN and FPT Witness Billion-Dollar Liquidity
A surge in trading activity this morning drove a 34% increase in liquidity across the two exchanges compared to yesterday. The breadth of the market showed a widespread upward trend, with the majority of stocks in positive territory. However, the money flow was not evenly distributed and was instead concentrated on a handful of strong performers. FPT and MSN, in particular, witnessed massive 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.
