Foreign investors net stock buyers for eighth consecutive session

Foreign investors were net buyers for the eighth consecutive session Wednesday to the tune of VND1.7 trillion ($69 million) on the Ho Chi Minh Stock Exchange (HoSE).

They mainly net purchased HPG of steel giant Hoa Phat, VHM of real estate developer Vinhomes, VIC of Vingroup, and MSN of Masan Group.

The benchmark VN-Index, which represents the HoSE, rose 16 points or 1.58% to 1,048, marking its gain for the fifth consecutive session.

The major bourse saw 350 gainers and 105 losers, with more than 1.1 billion shares changing hands for VND17.76 trillion ($720.6 million).

The real estate group remained the market leader with a series of stocks hitting their ceiling prices, including HPX of Hai Phat Invest, NVL of Novaland, PDR of Phat Dat Real Estate Development Corp, DXG of Dat Xanh Group, KDH of Khang Dien Holding Corp, L14 of Licogi 14, DIG of DIG Corp, and CEO of CEO Group. Besides, blue chips VHM and VIC gained 2.6% and 0.3%, respectively.

Notably, HPX set a new record in trading volume on the Vietnamese stock market with 165.2 million shares changing hands during the session, accounting for 54.1% of the company's floating shares. Earlier, this record belonged to FLC of FLC Group, set on January 11, 2022 with 154.9 million shares. With this development, HPX ended its 10-session streak of floor-price hitting.

Meanwhile, NVL hit its ceiling price for the second consecutive session, following an 18-session losing streak. This development came after the information that NovaGroup - the largest shareholder of Novaland - had found a partner to transfer its 150 million shares this December. Closing the Wednesday session, NVL stood at VND23,350 ($0.95) per share, down 74% compared to the beginning of the year.

The steel group also made strong impression, with HPG increasing 5.7%, HSG of Hoa Sen Group 3.2%, and NKG of Nam Kim Steel JSC 1.4%.

Similarly, most securities tickers recorded expansions, including VND of VNDirect Securities (6.2%), VCI of Viet Capital Securiites (5.8%), and HCM of HCMC Securities (2.3%).

The green color also overwhelmed other groups like banking, industrial real estate, and construction.

Meanwhile, the oil and gas group was the biggest obstacle to the HCMC market gain, with GAS of PV GAS and PLX of Petrolimex down 1.6% and 0.3%, respectively.

The HNX-Index on the Hanoi bourse went up by 0.57 points or 0.27% to 208.79, while the UpCOM-Index on the unlisted public company market rose 0.49 points or 0.7% to 70.87.