In May 2024, the average daily electricity consumption across the system is forecasted to reach 913.6 million kWh/day, a significant surge of 12.24% compared to the same period last year. The maximum capacity is expected to peak at a staggering 49,000 MW, with the Northern region alone potentially reaching 24,500 MW.
The three exchanges witnessed a liquidity of 22.5 trillion VND, with foreign investors net selling 1,720.5 billion VND, of which 789.8 billion VND was net sold in matched orders. On the other hand, individual investors net bought 1,555.1 billion VND.
The market endured further selling pressure during the morning session on Monday, with notable impacts from the blue-chip stocks. Of the top 10 stocks by market capitalization, all but VPB traded in the red. Foreign investors offloaded large volumes of VN30 stocks, with sell-side values accounting for over 22% of the total basket's trading value.
In the face of challenging economic times and mounting debts, issuing equity to raise funds and repay bank loans has become a go-to strategy for many real estate businesses.
The sudden surge in profit-taking pressure during this morning's session, coupled with weak liquidity, sent stock prices tumbling en masse. In contrast to yesterday's erratic volatility, today's selling momentum built gradually but steadily, exerting pressure until the very end. The VN-Index evaporated 8.63 points (-0.69%), settling at the day's lowest point.
The decision to raise interest rates by 50 to 100 basis points, if necessary to support exchange rate stability, will not significantly hinder economic recovery. Instead, it is a crucial step towards fostering a more stable macroeconomic environment.
The market didn't weaken further in the afternoon session, but a decline in several large-cap stocks prevented the VN-Index from recovering. Despite this, the advance-decline ratio indicated a positive price recovery for stocks. Foreign investors remained net sellers, with net outflows across the three exchanges exceeding 850 billion dong.
The market has been stuck in a sideways tug-of-war for the sixth consecutive session. Today's attempted breakout was swiftly halted, largely due to the inability of leading stocks to maintain their momentum, including VIC.
In a recent report by SSI Research on Mobile World Investment JSC (MWG), analysts revealed that a 5% stake in Bach Hoa Xanh was privately issued to a partner, valuing at VND 1.77 trillion.
The Ministry of Finance emphasizes the necessity of establishing a legally empowered entity, akin to a representative office of the State Securities Commission in Ho Chi Minh City, to undertake regulatory and supervisory responsibilities. Additionally, the ministry proposes the appointment of an additional vice-chairman to the State Securities Commission, bolstering its leadership and management capabilities.
