The market made a surprising comeback during the morning session as leading stocks such as VIC and VHM continued to attract significant buying interest. The positive sentiment spread to other blue-chips, pushing the VN30-Index up by 1.7% and reaching new highs once again.
After two corrective sessions, VIC and VHM remained the main pillars of support for the VN-Index. While VHM showed signs of weakening in the previous two sessions, VIC displayed strong momentum, surging to its daily limit-up price yesterday and continuing its upward trajectory today. Within the first 30 minutes of trading, VIC reached its limit-up price again, and for most of the remaining session, it was stuck at that price with buy orders queuing. At the end of the session, there were still about 1.87 million VIC shares left unmatched on the buying side.
VHM also witnessed an impressive performance in the first 45 minutes, reaching its daily limit-up price as well. However, selling pressure started to build up after 10:00 AM, causing VHM to gradually come off its highs, but the support remained solid. By the end of the session, VHM had gained 6.78%, which was a retreat of approximately 1.11% from its intraday peak. The intense buying and selling activity resulted in VHM having the highest trading volume on the market, with over 14 million shares traded, equivalent to nearly VND 872 billion. Foreign investors offloaded a total of 7.45 million VHM shares, accounting for more than 53% of the trading volume, resulting in a net sell value of VND 335.9 billion.
An interesting contrast emerged in today’s upward movement. From the market open until around 10:00 AM—when both VHM and VIC hit their limit-up prices—the VN-Index did not experience its strongest upward momentum. At 10:00 AM, the market breadth on the HoSE was 123 gainers versus 152 losers. Even within the VN30 basket, the number of declining stocks outweighed the advancing ones. At one point, VIC and VHM were the only stocks in the basket trading in positive territory. In simpler terms, the strength of these two pillars was initially standing out in isolation.
However, the situation improved in terms of market breadth after 10:30 AM, and for the rest of the session, the number of gainers dominated. The VN-Index ended the morning session with 170 gainers versus 116 losers, while the VN30 basket had 20 gainers and only 8 losers. It is worth noting that during the latter half of the morning session, when the index climbed higher and market breadth turned more favorable, VIC did not witness any trading, and VHM gradually eased from its highs. This indicates that other pillars stepped in to propel the index upward.
The VN-Index closed the morning session with a gain of 1.31%, while the VN30-Index rose by 1.7%. The Midcap and Smallcap indices also posted gains of 0.89% and 0.75%, respectively. Among the blue-chip stocks, 12 out of 30 recorded increases of more than 1%. Furthermore, all ten stocks that contributed the most to the VN-Index’s gain belonged to the VN30 basket. Additionally, eight out of the ten most liquid stocks on the market were from this basket. Overall, the VN30 basket accounted for 59.4% of the total trading value on the HoSE, confirming the presence of substantial capital flow within this group of large-cap stocks.
Apart from the two strongest pillars, VIC and VHM, other blue-chip stocks that performed well included TCB, up 4.58%; VRE, up 3.03%; GVR, up 2.57%; MSN, up 1.45%; STB, up 12.8%; and MBB, up 1.22%. Thus, 5 out of the 10 largest stocks by market capitalization witnessed gains of more than 1%, including VPB, which rose by 1.53%. However, VCB, BID, and CTG displayed weak upward movements, while FPT declined by 0.17%. Additionally, GAS, another large-cap stock, fell by 0.66%.
The rest of the market also demonstrated strength, with 96 stocks rising by 1% or more. Blue-chip stocks dominated this group of strong performers, but several other stocks also attracted substantial trading interest: CII increased by 1.76% with a trading value of VND 280.7 billion; BAF rose by 3.48% with a value of VND 264.8 billion; VIX climbed by 1.17% with a value of VND 208.3 billion; KBC increased by 1.5% with a value of VND 162.9 billion; GEE rose by 2.3% with a value of VND 113.8 billion; and VSC surged by 5.35% with a value of VND 102.9 billion. Collectively, these 96 strongest stocks accounted for 55.3% of the total trading value on the HoSE.
On the declining side, NVL stood out as the only stock witnessing notable selling pressure, falling by 2.07%. This stock has been on a downward trend for the past eight sessions, with a decline of approximately 6.7% from its closing peak. Today’s selling pressure was concentrated in the first hour of trading, and NVL hit its intraday low around 10:00 AM, dropping by 4.56% from the reference price. However, for the remainder of the session, buying interest emerged, reducing the loss to about half of the intraday low. With a trading value of approximately VND 249.1 billion, NVL experienced active trading. Apart from NVL, only a few other stocks witnessed losses of more than 1% with trading values exceeding VND 10 billion, including DC4, HQC, PLX, and KDC.
Foreign investors were net sellers on the HoSE during the morning session, offloading a net value of nearly VND 433 billion. However, this net selling was concentrated on a few stocks: VHM (-VND 335.9 billion), FPT (-VND 232 billion), and SHB (-VND 146.9 billion). On the buying side, they net purchased MBB (+VND 72.6 billion), MWG (+VND 61.8 billion), BAF (+VND 58 billion), and VIC (+VND 48.6 billion).
VietABank Files for Listing on HOSE
The Ho Chi Minh City Stock Exchange (HOSE) has received the listing registration dossier from VietABank, a joint-stock commercial bank currently trading on the Unlisted Public Company Market (UPCoM) under the ticker symbol ‘VAB’.
“Billionaire Pham Nhat Vuong’s Net Worth Surpasses $10 Billion Landmark.”
According to Forbes, Vietnamese billionaire Pham Nhat Vuong’s net worth stands at a staggering $10.1 billion, a surge of nearly $880 million from the previous day. This significant increase catapults him to the 279th spot on the global billionaire rankings.
The Bank Stock Aggressively Accumulated by Proprietary Trading Securities Firm in Monday’s Session
“Local brokerage firms witnessed a net buy position of VND 77 billion on the HoSE. This development has caught the attention of investors, sparking curiosity about the potential opportunities that lie ahead.”
Technical Analysis for May 19: A Tug-of-War Scenario Unfolds
The VN-Index and HNX-Index exhibited a contrasting performance amidst weakening ADX indications, hinting at a potential sideways trend with interspersed gains and losses in upcoming sessions.
“Left in the Lurch: The Tale of Privately Placed Shares”
The Binh Duong Business and Development JSC intended to offer 35 million shares, but 7,772,000 shares remained unsold. The Kien Giang Construction Investment Consulting Group JSC has requested a 30-day extension to distribute the unsold shares from the approved plan during the public offering.
