Vietnam Airlines shares take off, VN-Index increases more than 7 points despite foreign net selling

Foreign investors sold strongly, earning more than VND5,200 billion in the session on October 29. However, most of the selling was due to CBA's sale of VIB shares. Meanwhile, Vietnam Airlines shares became the highlight of the session when they increased by a large margin.

Foreign investors sold strongly, earning more than VND5,200 billion in the session on October 29. However, most of the selling was due to CBA's sale of VIB shares. Meanwhile, Vietnam Airlines shares became the highlight of the session when they increased by a large margin.

After the recovery session at the beginning of the week, trading on October 29 was somewhat more positive when green dominated almost the entire trading time on all three exchanges, although cash flow was still weak. Investors were still worried when the market increased but liquidity did not come along. The positive point in today's session was that VN-Index maintained green throughout the trading time.

Notably, VIB shares had a negotiated transaction of up to 300.1 million shares and most of them were at VND18,000/share. The total negotiated value was up to VND5,400 billion. All of the above shares were sold by foreign investors. Before this transaction, VIB had the largest foreign shareholder, Commonwealth Bank of Australia (CBA), holding more than 440 million shares (14.78% of VIB's capital). Previously, in just two trading sessions on September 24 and 26, foreign shareholder CBA had significantly reduced its share ownership ratio at VIB, down to below 15%. At the extraordinary General Meeting of Shareholders in mid-June, VIB bank was approved to reduce the foreign room from 20.5% to 4.99% from July 1. This means that CBA is only allowed to sell shares to domestic investors, excluding the case of receiving dividends in shares.

The negotiated transaction of VIB shares alone was also the main reason why foreign investors had a strong net selling session with a total value of VND5,242 billion. The foreign net selling streak on the three exchanges has lasted from October 11 until now. In fact, if excluding the negotiated transaction above, foreign cash flow has focused on disbursing quite a lot on VPB shares (VND275.6 billion) and GMD (VND171.6 billion) or EIB (VND64 billion), MWG (VND54 billion)... On the selling side, Vinhomes shares were the most strongly sold by foreign investors, earning nearly VND94 billion.

After fluctuating sideways for most of the trading session, VIB jumped sharply at the end of the session and closed at VND18,750/share, up 2.74%. This stock also entered the top 5 dividend stocks that contributed the most points to the VN-Index.

The stocks that had the most positive impact on the VN-Index in the session on October 29 were HVN, HPG, HDB, GVR and VIB. Vietnam Airlines shares increased sharply to VND22,000/share. Meanwhile, in the opposite direction, four real estate stocks VHM, PDR, VIC and DXG were the "culprits" that dragged the VN-Index down.

At the end of the trading session, VN-Index increased by more than 7 points (0.56%) to 1,261.78 points. HNX-Index increased by 0.96 points to 225.56 points. UPCoM-Index increased by 0.18 points to 92.32 points. On the three floors, there were 477 stocks increased, 258 stocks decreased and 873 stocks remained unchanged.

Foreign investors sold strongly, earning more than VND5,200 billion in the session on October 29. However, most of the selling was due to CBA's sale of VIB shares. Meanwhile, Vietnam Airlines shares became the highlight of the session when they increased by a large margin.

Comment (0)