HCMC bourse trading value surges 60% in past week

By Nhat Huynh, Minh Hue
Sun, December 10, 2023 | 10:08 am GMT+7

Trading value on the Ho Chi Minh Stock Exchange (HoSE) reached VND104.4 trillion ($4.3 billion) from December 4-8, a sharp increase of 59.9% compared to the previous week.

The Thursday session alone recorded a trading volume of nearly 1.3 billion shares, the highest since September 2023.

After many weeks of fluctuations in a narrow range around the territory of 1,100 points, the VN-Index, representing the HoSE, showed a positive performance in the first sessions of the week, reaching about 1,130 points. However, investor caution increased when the index approached the old peak.

On Thursday, selling pressure suddenly increased sharply, causing the market to plunge. However, demand gradually returned at the end of the session, helping the VN-Index narrow its downward momentum.

Foreign investors net sold Vietnamese stocks worth up to over VND3.95 trillion ($163 million) on the Ho Chi MInh Stock Exchange in the December 4-8, 2023 week. Photo by The Investor/Trong Hieu.

Foreign investors net sold Vietnamese stocks worth up to over VND3.95 trillion ($163 million) on the Ho Chi MInh Stock Exchange in the December 4-8, 2023 week. Photo by The Investor/Trong Hieu.

Ending the week, the VN-Index gained 2.02% week-on-week to 1,124.44 points with a sharp increase in liquidity.

BID of BIDV bank, MSN of retail giant Masan Group, and MWG of Mobile World Investment Corp. had the most positive impacts on the VN-Index. In particular, BID alone contributed nearly 1.7 points to the index. On the contrary, VCB of Vietcombank was the most negative influencer, taking away nearly 0.3 points.

In contrast to the cash flow of domestic investors, foreign investors continued to be net sellers to the tune of up to over VND3.95 trillion ($163 million) on the HoSE, and VND72.9 billion ($3 million) on the Hanoi Stock Exchange (HNX).

The highlight of the week came from the group of large-cap stocks, notably retail stocks, when many codes still gained well under strong net selling pressure of foreign investors, such as MWG (+9.94%), MSN (+7.64%), PET of Petrovietnam General Services JSC (+5.03%), and DGW of Digital World (+3.3%).

Banking tickers also had a positive trading week with improved liquidity. LPB of LPBank expanded 6.86%, BID 6.35%, OCB of Oriental Commercial Bank 5.62%, EIB of Eximbank 4 .37%, and TCB of Tecombank 4.03%.

Real estate stocks saw a divergence. While L14 of Licogi 14 went up 8.14%, DIG of DIG Corp 6.57%, and PDR of Phat Dat Real Estate Development 6.3%; LDG of LDG Investment Corp lost 12.17%, SJS of Song Da Urban & Industrial Zone Investment & Development JSC 5.22%, and VHM of giant Vinhomes 3.06%.

Top broker Saigon Securities (SHS) believed that the market is still in the second phase of recovery after a deep decline and will gradually form a new accumulation base. In the short term, the VN-Index is expected to soon surpass the resistance level of around 1,130 points to move towards the 1,150-point area.

In the medium-term, the index will find an equilibrium point to accumulate again. It will reach 1,150-1,250 points in a positive scenario, while falling to 1,100-1,150 points in a negative scenario, noted the broker.

Short-term investors can put down money but with caution, it said, adding in the medium and long term, investors can increase their proportion of stocks. They should choose leading tickers with good fundamentals and stable growth potential that are moving in the current accumulation state.

Vietcombank Securities (VCBS) said the VN-Index may continue to fluctuate in the coming sessions towards the territory of 1,140-1,160 points. Investors should maintain their proportion of stocks and can take advantage of corrections to increase or buy stocks that show signs of successfully testing the support area or rising above the resistance zone with convincing liquidity in groups such as real estate, securities, and banking.

Comments (0)
  • Read More
Vietnam needs large, specialized logistics centers to compete better: official

Vietnam needs large, specialized logistics centers to compete better: official

Vietnam needs large-scale, specialized logistics centers that will enable greater competitiveness of local economies and enterprises, says Tran Thanh Hai, deputy head of the Ministry of Industry and Trade's agency of foreign trade.

Economy - Sun, November 3, 2024 | 11:00 am GMT+7

Vietnam manufacturing sector sees 35% increase in Q3 job orders: Adecco

Vietnam manufacturing sector sees 35% increase in Q3 job orders: Adecco

Vietnam’s manufacturing and sourcing sectors saw a substantial 35% year-on-year increase and a 52% quarter-on-quarter increase in Q3/2024 job orders, global workforce solutions provider Adecco said in a reseach report released Thursday.

Economy - Sun, November 3, 2024 | 9:00 am GMT+7

Construction majors to continue capitalizing on public investment projects

Construction majors to continue capitalizing on public investment projects

Vietnamese construction giants are expected to continue capitalizing on public investment projects for the remainder of this year after delivering strong performances in the third quarter, analysts say.

Companies - Sun, November 3, 2024 | 8:00 am GMT+7

Former Government Office chairman receives $7,900 bribe from property project

Former Government Office chairman receives $7,900 bribe from property project

Mai Tien Dung, former Minister-Government Office Chairman, received a bribe worth VND200 million ($7,900) from Nguyen Cao Tri, owner of the Dai Ninh eco-resort and urban area project in Lam Dong province.

Society - Sat, November 2, 2024 | 9:13 pm GMT+7

Thai food giant CP enters public-private partnership to promote food system transformation

Thai food giant CP enters public-private partnership to promote food system transformation

Thai-invested C.P. Vietnam Livestock JSC and the Partnership for Sustainable Agriculture Vietnam (PSAV) signed a memorandum of understanding Friday on working together to advance sustainable agriculture in the country.

Companies - Sat, November 2, 2024 | 7:16 pm GMT+7

Central Vietnam province Quang Ngai to begin work on new VSIP industrial park next year

Central Vietnam province Quang Ngai to begin work on new VSIP industrial park next year

Vietnam’s central province of Quang Ngai will work with the investor to have construction of VSIP II Quang Ngai, a facility based on the Vietnam-Singapore Industrial Park (VSIP) model, begin in August 2025.

Industrial real estate - Sat, November 2, 2024 | 3:47 pm GMT+7

Vietnam likely to grow 6.5% in 2024-2025: VinaCapital

Vietnam likely to grow 6.5% in 2024-2025: VinaCapital

VinaCapital, among the biggest foreign-run asset managers in Vietnam, has forecast the country’s economy to achieve 6.5% growth in both 2024 and 2025, with the composition of the expansion to change to more domestically driven factors next year.

Economy - Sat, November 2, 2024 | 2:00 pm GMT+7

Major Vietnamese developer Novaland appoints new CEO

Major Vietnamese developer Novaland appoints new CEO

Duong Van Bac, who joined Novaland as chief financial officer in August 2023, has been appointed general director, starting Friday.

Companies - Sat, November 2, 2024 | 10:24 am GMT+7

Vietnamese conglomerate Bamboo Capital posts 36-fold profit growth in Q3

Vietnamese conglomerate Bamboo Capital posts 36-fold profit growth in Q3

Ho Chi Minh City-based Bamboo Capital Group recorded an after-tax profit of VND331.2 billion ($13.1 million) in the third quarter of 2024, an astounding 36-fold expansion year-on-year.

Southeast Asia - Sat, November 2, 2024 | 9:41 am GMT+7

ThaiBev to bag $54 mln from Sabeco’s upcoming dividend payout

ThaiBev to bag $54 mln from Sabeco’s upcoming dividend payout

Vietnam Beverage, wholly owned by Thai Beverage (ThaiBev) will rake in VND1,374 billion ($54.26 million) worth of dividend from Ho Chi Minh City-based top brewer Sabeco.

Companies - Sat, November 2, 2024 | 9:13 am GMT+7

Steel heavyweight Hoa Phat pours over $2 bln into central Vietnam complex

Steel heavyweight Hoa Phat pours over $2 bln into central Vietnam complex

Leading Vietnamese steelmaker Hoa Phat had invested more than VND52.5 trillion ($2.08 billion) in its Dung Quat Iron and Steel Integrated Complex (Dung Quat 2) in the central province of Quang Ngai as of Q3/2024.

Industries - Sat, November 2, 2024 | 8:00 am GMT+7

Vietnam becomes Australia’s fastest-growing inbound market

Vietnam becomes Australia’s fastest-growing inbound market

The number of Vietnamese tourists to Australia has grown significantly after the Covid-19 pandemic, with nearly 178,000 reported in the 12 months to August 2024, according to a Friday press release by the Australian Minister for Trade and Tourism’s Office.

Southeast Asia - Fri, November 1, 2024 | 10:02 pm GMT+7

Study finds shift in Thai consumers’ spending patterns

Study finds shift in Thai consumers’ spending patterns

Consumers in Thailand are shifting their spending focus to experiences and investments, according to the latest ASEAN Consumer Sentiment Study (ACSS) by United Overseas Bank (UOB).

Southeast Asia - Fri, November 1, 2024 | 10:00 pm GMT+7

Energy security, digitalization key to Indonesia's economic growth

Energy security, digitalization key to Indonesia's economic growth

The Indonesian government is prioritizing long-term economic growth through energy security, digitalization, and natural resource industrialization, according to Deputy Minister of Finance Thomas Djiwandono.

Southeast Asia - Fri, November 1, 2024 | 9:58 pm GMT+7

Vietnam PM's Middle East tour creates breakthroughs in economic, trade, investment cooperation: FM

Vietnam PM's Middle East tour creates breakthroughs in economic, trade, investment cooperation: FM

Prime Minister Pham Minh Chinh’s freshly ended six-day trip to the UAE, Saudi Arabia and Qatar has produced important outcomes, demonstrating the growing relations between Vietnam and the three Middle-East countries, Deputy Prime Minister and Foreign Minister Bui Thanh Son told the Vietnam News Agency.

Politics - Fri, November 1, 2024 | 9:25 pm GMT+7

Vietnam, Qatar look to tap potential for energy, oil & gas collaboration

Vietnam, Qatar look to tap potential for energy, oil & gas collaboration

Vietnam and Qatar have recognized the significant potential for further collaboration in multiple sectors such as energy, oil and gas, especially LNG, agriculture, Halal industry, and banking.

Politics - Fri, November 1, 2024 | 9:02 pm GMT+7