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The stock market witnessed a rare coincidence involving two stocks: VTC Telecom Joint Stock Company (VTC, HNX: VTC) and Thuong Dinh Shoe Joint Stock Company (UPCoM: GTD). Both stocks experienced a consecutive 12-session ceiling price increase from November 19 to December 4. Both companies were required to explain the price fluctuations, maintaining that the surge reflected market supply and demand dynamics, with no unusual changes in production or financial stability.
However, the prolonged ceiling price trend in both stocks is believed to be linked to state divestment plans announced just before the rally.
For VTC Telecom, Vietnam Posts and Telecommunications Group (VNPT) registered to sell its entire stake of over 2 million shares, equivalent to 46.73% of the capital, from November 26 to December 25 through off-system transactions. This divestment aligns with Decision 620/QĐ-TTg dated July 10, 2024, on VNPT’s restructuring and Document 1944/UBQLV-CNHT dated August 28, 2024, from the State Capital Management Committee.
This announcement propelled VTC‘s stock price to more than triple in 12 sessions, reaching 24,700 VND/share on December 4, surpassing its previous peak of 23,600 VND/share set in March 2022. Liquidity during this period also surged, ten times higher than the average trading volume over the past year.
| VTC Stock Price Movement from 2025 to Date |
For Thuong Dinh Shoe, the ceiling price streak coincided with the announcement of an auction for nearly 6.4 million GTD shares, representing 68.77% of the charter capital, by the Hanoi People’s Committee. The starting price is 20,500 VND/share, equivalent to a minimum auction value of 131 billion VND, scheduled for December 16, 2025, at HNX. This divestment is a key 2025 task approved by the shareholders’ meeting, amid leadership warnings of potential capital loss if delayed.
The news drove GTD‘s stock price to a continuous rise, reaching 59,400 VND/share on December 4, nearly four times its pre-rally value. Liquidity also increased sixfold compared to the average trading volume over the past year, marking the highest price level in the company’s history.
| GTD Stock Price Movement from 2025 to Date |
– 18:20 04/12/2025
Two Stock Codes Witness Abnormal Net Selling by Securities Firms, Totaling Hundreds of Billions in the December 3rd Session
Proprietary trading desks at securities firms collectively offloaded a staggering VND 625 billion (approximately USD 27 million) in net sales during the period.
Vietnam’s Recovery Phase: Corporate Profits Poised to Rise, Says Dominic Scriven (Dragon Capital)
At the Annual Listed Companies Conference held on the afternoon of December 3rd, Mr. Dominic Scriven, Chairman of the Board of Directors of Dragon Capital Fund Management JSC, delivered a keynote address. His presentation focused on assessing the global and Vietnamese macroeconomic landscape, emphasizing the critical roles of policy, public investment, and capital markets. Additionally, he provided insightful analysis and predictions regarding the Vietnamese stock market.
Blue-Chip Stock Code Unexpectedly Hit by Strong Net Selling from Securities Firm’s Proprietary Trading on December 2nd
Proprietary trading desks at securities firms reversed their position, shifting to net selling with a total value of 64 billion VND.
Is the Stock Market Set for a Breezier December?
The VN-Index concluded November with its second consecutive weekly gain, edging closer to the 1,700-point milestone. However, weak liquidity and a zigzagging upward trend indicate cautious investor sentiment. As we enter the final month of the year, the market is anticipated to turn more positive, yet significant volatility remains likely due to heightened pressure from portfolio rebalancing and NAV (net asset value) closures.
Unified Moves by The World Mobile Group, Tan Dai Hung Plastic, T-Corp, and Gemadept
Under the new provisions of the 2019 Securities Law (effective from January 1, 2021), all treasury shares purchased must be canceled, and the company is required to reduce its chartered capital accordingly. Given that treasury shares can no longer be resold as before, what is the purpose of such transactions?
