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 widespread and was instead focused on a 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 value on the HoSE and nearly 37% of the VN30 basket.
The money is chasing stocks that are expected to report breakthrough business results 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 losers on the HoSE, only 45 stocks rose by more than 1%. FPT and MSN were the most prominent performers.
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 threshold since the beginning of September. Foreigners bought 2.25 million units, accounting for over 30% of the total trading volume. The net buying value reached 286.4 billion dong.
While MSN did not receive as much net buying from foreigners as FPT, it was the stock with the highest liquidity in the market this morning, reaching 1,100.8 billion dong, equivalent to 13.9 million units. MSN rose 3.51%. About 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 dong.
FPT is currently the third-largest capitalization stock of the VN-Index, with MSN smaller, ranking 15th. Nevertheless, the strong upward momentum has positively impacted the index, with the two stocks contributing about three points to the index’s total gain of 7.84 points this morning. In terms of liquidity, compared to yesterday morning, MSN and FPT increased by about 1,875 billion dong in matched orders, implying that the liquidity increase in the HoSE and VN30 basket was due to these two stocks. Specifically, the liquidity increase in MSN and FPT accounted for 76% of the HoSE’s liquidity increase and 93% of the VN30’s.
Aside from the two prominent blue-chips, the market also witnessed several actively traded stocks, although liquidity did not see a similar surge. DGC, SSI, HDB, FRT, VNM, CMG, LPB, and others experienced significant price increases on relatively high liquidity. The remaining strongest gainers 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 up 7.84 points, or 0.61%. This was not the best gain for the index, as it rose to nearly 21.3 points (+0.97%) intraday. In the second half of the session, the upward momentum eased slightly due to profit-taking activities. Several large-caps retreated, with VCB falling 1.29% from its peak, closing the morning up 0.88%. VHM reversed to a slight loss of 0.24%, down 1.17%. BID fell 0.9% to a 0.1% gain. CTG dropped 1.09% to a 0.42% increase. HPG fell 0.9%, reversing to a 0.18% loss. TCB slipped 0.6% to a 0.81% gain. GAS eased 0.41% to a 0.83% advance. These are all Top 10 market capitalization stocks. FPT and MSN also retreated, with FPT giving back 0.28%, and MSN nearly 1%.
The sharp rise in trading activity may encourage investors to sell more. In fact, the 1300-point level is still a haunting memory for many, as the VN-Index peaked at 1,294.33 points this morning. However, the buying power is also impressive, especially with 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 very good price correlation, with the HoSE still having 201 gainers and 135 losers. Almost all the losers were very slight, 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. As for CTF, TCO, BMP, and DVP, the most traded stocks after D2D, they only matched a few billion dong.
Foreign investors this morning sharply increased disbursement to 1,173.2 billion dong on HoSE, including a net purchase of 413.7 billion dong. This is the highest disbursement threshold in five weeks. The buying focused on FPT, MSN, and additionally, TCB, with 93.2 billion dong. On the selling side, STB fell by 42.7 billion dong, VPB by 26.5 billion dong, VHM by 26.2 billion dong, and MWG by 20.8 billion dong.
