FTSE Russell is about to announce market classification, stock lines were "ambushed" on October 8

FTSE Russell is about to announce market classification, stock lines were "ambushed" on October 8

A series of securities stocks plummeted, negatively affecting investor sentiment. The reversal of securities stocks comes ahead of the FTSE Russell market classification announcement.

MBS shares reversed and decreased after announcing the third quarter financial report.

Despite good news about domestic macroeconomic indicators with GDP growth estimated at 7.4% in the third quarter of 2024, the stock market did not perform very positively in the first session of the week.

Entering the trading session on October 8, the market had quite positive fluctuations following the recovery efforts at the end of yesterday's session. However, the increase only lasted for about 30 minutes at the beginning of the session. Instead, selling pressure increased and this pushed the indices back below the reference level. The developments in the afternoon session were similar to the morning session when demand sometimes increased and pushed the VN-Index up but then weakened again. The VN-Index closed with a slight increase.

The focus of attention was on the group of securities stocks with the expectation that the growth momentum would continue after the explosive trading session at the beginning of the week. However, the performance was contrary to expectations. MBS shares encountered strong selling pressure and fell sharply after announcing its third quarter financial report. This is also the first securities company in the group to announce its financial report. Pre-tax profit increased by 7% compared to the same period in 2023 but still decreased significantly (about 17%) compared to the previous quarter, at the same time, breaking the previous 6 consecutive quarters of positive growth.

Selling pressure also occurred widely in other securities stocks and negatively affected investor sentiment. At the end of the session, MBS decreased by 5.36% to VND30,000/share and matched 14 million shares. Other securities codes such as VDS, BSI, SHS, FTS, HCM... were all in red.

The unexpected reversal of the stock market group took place right before FTSE Russell will announce its market classification. Vietnamese stocks are unlikely to create a miracle in this ranking. However, experts also expect that the revised Circular will be officially issued in September and soon implemented in the fourth quarter of the year, which will be the basis for FTSE Russell to give a positive assessment of the Vietnamese stock market in the ranking period.

Top 10 stocks affecting VN-Index.

The stocks in the VN30 group were strongly differentiated in today's session. VCB decreased by 0.54% and had the most negative impact on the VN-Index, taking away 0.68 points. MWG decreased sharply by 1.66% and also took away 0.39 points. Codes such as BID, GAS, MSB, SAB... also decreased simultaneously and negatively affected the general market.

On the other hand, codes such as LPB, HPG, VNM, TCB... increased well and this helped support the general market. LPB attracted attention when it suddenly increased sharply by nearly 5% in today's session. At one point in the session, LPB increased by over 6%. LPB was also the code that contributed the most positively to the VN-Index with 0.96 points. Following that, HPG increased by 2.1% and also contributed 0.85 points.

Contrary to the stock market's performance, steel stocks became a notable bright spot in the market. In the steel group, in addition to HPG, stocks such as VGS, HSG, NKG, TVN... all increased in price. VGS increased by 2.14%, HSG increased by 1.4%, NKG increased by 1.4%...

Retail stocks were differentiated today. Besides MWG, DGW also decreased by 1.75%, PNJ decreased by 0.63%. On the other hand, PET increased by 0.8% and FRT increased by 0.06%. The Ho Chi Minh City Stock Exchange (HoSE) has just announced a list of stocks that are not eligible for margin trading in September 2024. According to this list, FRT stock code has been granted margin again.

At the end of the trading session, VN-Index increased by 2.05 points (0.16%) to 1,271.98 points. The entire floor had 176 stocks increasing, 179 stocks decreasing and 79 stocks remaining unchanged. HNX-Index decreased by 0.95 points (-0.41%) to 231.52 points. The entire floor had 69 stocks increasing, 80 stocks decreasing and 65 stocks remaining unchanged. UPCoM-Index decreased by 0.02 points (-0.02%) to 92.45 points.

The highlight of today's session was the recovery of liquidity. The total trading volume on HoSE reached nearly 679 million shares, equivalent to a trading value of VND15,729 billion (up 33% compared to the previous session), of which the negotiated value accounted for VND762 billion. The trading value on HNX and UPCoM was VND1,438 billion and VND495 billion, respectively.

Foreign net selling momentum has decreased, some stocks are focused on disbursement.

Foreign capital continued to extend the net selling trend to the third consecutive session. However, the selling level has decreased significantly. Foreign investors reduced their net selling value on HoSE to more than VND110 billion.

Of which, foreign investors net sold the most MWG code with 121 billion VND. STB and BMP were net sold 64 billion VND and 63 billion VND respectively. On the other hand, this capital flow net bought the most TCB code with 139 billion VND. HPG and LPB were net bought 137 billion VND and 83 billion VND respectively.

Source: https://baodautu.vn/ftse-russell-sap-cong-bo-phan-hang-thi-truong-dong-chung-khoan-bi-danh-up-phien-810-d226893.html