Vietnam small-cap stocks sell like hot cakes

Small-cap stocks posted an impressive performance on Wednesday as the VNSML-Index expanded by 1.04%, compared to the respective 0.58% and 0.14% gains made by large- and mid-cap groups.

A series of small caps, especially those in the real estate and securities industries, hit their ceiling prices, including APS of Asia-Pacific Securities, ORS of Tien Phong Securities, BMS of Bao Minh Securities, HPX of Hai Phat Invest, BCG of Bamboo Capital Group, NHA of Hanoi South Housing and Urban Development Corporation, and TDC of Binh Duong Trade And Development JSC.

The rally among small caps and an at-the-close recovery of blue chips helped the VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), increase by 2.41 points, or 0.22%, to 1,080.86.

The major bourse saw 250 tickers rising, including 17 hitting their ceiling prices, and 128 losing value. Nearly 794 million shares were traded for over VND12.8 trillion ($545.6 million), a drop of VND730 billion from the previous session.

The VN30 index, which tracks the performance of the 30 largest-cap stocks, went up 1.49 points to 1,089.83, with 15 gainers and 10 losers.

The real estate group had a good trading day, with VHM of Vinhomes up 2.35%, KBC of Kinhbac City Development Holding Corp. 3.56%, NLG of Nam Long Group 2.6%, DIG of DIG Corp. 4.03%, PDR of Phat Dat Real Estate Development Corp. 1.9%, and DXG of Dat Xanh Group 2.24%.

Divergence was seen in some groups like manufacturing, energy, aviation and retail. Red covered a few stocks, notably VIC of Vietnam’s biggest conglomerate Vingroup, losing 2.29%.

Foreign investors turned net buyers on the HoSE after two net-selling sessions to the tune of VND188 billion ($8 million).

They mainly net purchased HPG of steel giant Hoa Phat, VHM, CTG of Vietinbank, NLG and VRE of Vincom Retail. Meanwhile, the highest net sales were of STB of Sacombank, VNM of Vinamilk, BID of BIDV bank, and PNJ of Phu Nhuan Jewelry.

The HNX-Index on the Hanoi bourse rose 1.85 points to 212.58, while the UpCOM-Index on the unlisted public company market increased 0.15 points to 77.74.