VN-Index enters short-term correction phase

VN-Index lost 15 points in just one trading session, the market entered a short-term correction, Novaland rushed to construct projects, 7 leaders of VSD, HOSE "assisted" Mr. Trinh Van Quyet, dividend payment schedule...

VN-Index "evaporated" 15 points

Last weekend session (February 23), the market was filled with red when it lost more than 15 points, VN-Index closed the week with 1,212 points.

Market breadth was tilted towards the selling side, a series of blue-chip stocks reversed and decreased. 414 stocks decreased, 98 stocks increased and 45 stocks remained unchanged.

The opposite developments in the morning and afternoon sessions with an amplitude of nearly 30 points at VN-Index strongly impacted investor sentiment.

Chứng khoán tuần 26/2 – 3/3: VN-Index bước vào nhịp điều chỉnh ngắn hạn- Ảnh 1. — Blue-chip stocks quickly reversed direction after lunch break (Source: SSI iBoard)

Despite the sharp decline, liquidity increased dramatically. The matched value on the HOSE floor alone reached more than VND30,000 billion, equivalent to nearly USD1.2 billion. This is also the highest liquidity level in the past 6 months, since the "shaky" session in September 2023.

Besides the sharp drop in the index, the market also witnessed the second consecutive session of huge net selling from foreign investors, reaching 789 billion VND in the whole market.

On the HOSE floor alone, foreign investors net sold about 767 billion VND, focusing on VPB (VPBank, HOSE) and MWG (Mobile World, HOSE), respectively 195 billion VND and 183 billion VND.

Next are VIX (VIX Securities, HOSE), TPB (TPBank, HOSE) and MSN (Masan Group, HOSE).

Comments and recommendations: VN-Index enters short-term correction phase

In contrast to last week, right after the "shaky" session at the end of the week, this week's forecasts all tend to be negative.

According to KB Securities , the index increased in the morning session of February 23 mainly based on the support of the banking group and blue-chip stocks, showing a rather narrow increase. Immediately after that, at the end of the afternoon session, the market reversed quickly, signaling the possibility of entering a short-term correction. However, the uptrend is still confirmed, VN-Index has the opportunity to recover at the areas around 1,200 and further around 1,170 points.

VCBS Securities believes that, with the current developments, VN-Index may continue to "shake" within an amplitude of over 10 points before increasing again, the market is still in a medium- to long-term uptrend. Investors are recommended to take advantage of the recent "shake" to increase the proportion of stocks with good accumulation bases, such as the finance - banking sector and manufacturing enterprises. In addition, short-term investors can surf with existing stocks, take short-term profits during the uptrend to limit risks and consider buying back at a reduced price.

Yuanta Securities said that the market may continue to adjust in the next session, the VN-Index may return to the 1,200 - 1,210 point range. The market may enter a short-term accumulation phase and stock groups may have divergence. In addition, the sharp decrease in short-term sentiment indicators shows that investors are more cautious with the market.

Many banks are preparing for the 2024 annual shareholders' meeting

Many banks have announced the closing of the right to attend the 2024 shareholders' meeting.

Among the banks that have announced their schedules, Nam A Commercial Joint Stock Bank (NAB, HOSE) may be the first bank to organize the 2024 annual general meeting of shareholders, which is expected to take place on March 29, 2024, with the last registration date to close the list being February 28, 2024.

In addition, up to now, about 100 enterprises have announced the schedule for closing the right to attend the annual general meeting of shareholders in March and holding the meeting in April 2024.

7 securities industry leaders "colluded" with Mr. Trinh Van Quyet

The Ministry of Public Security's Investigation Police Agency (C01) issued additional investigation conclusions on the case of stock manipulation and fraudulent appropriation of assets related to FLC Group Chairman Trinh Van Quyet on February 24.

In particular, C01 proposed to prosecute 4 former leaders of the Ho Chi Minh City Stock Exchange for the crime of abusing their positions and powers while performing official duties. In addition, 3 other people from the State Securities Commission and the Vietnam Securities Depository Center were proposed to be charged with the crime of disclosing false information or concealing information in securities activities.

Chứng khoán tuần 26/2 – 3/3: VN-Index bước vào nhịp điều chỉnh ngắn hạn- Ảnh 2. — With the aim of appropriating investors' money, Faros planned to become a public company to list on the stock exchange despite not meeting capital requirements (Photo: Internet)

Faros Construction JSC (ROS) belongs to the FLC ecosystem, although the initial capital contribution was only nearly 1,200 billion VND, but with the purpose of appropriating investors' money, from April 2014 to September 2016, Mr. Quyet directed his sister and some other leaders of Faros Company to submit 5 false capital contribution documents of more than 3,100 billion VND.

Since then, Faros' charter capital increased from VND1.5 billion to VND4,300 billion. At this time, Mr. Quyet proposed a plan to turn Faros into a public company to list on the Ho Chi Minh City Stock Exchange (HOSE). Although he encountered many obstacles due to conflicts over the basis for determining the actual contributed capital, Mr. Quyet was assisted by four leaders of HOSE.

Novaland rushes to complete projects

Chứng khoán tuần 26/2 – 3/3: VN-Index bước vào nhịp điều chỉnh ngắn hạn- Ảnh 3. — Victoria Village project, one of the key projects, is being urgently constructed (Photo: Novaland Vietnam)

Real estate revenue in 2023 of Novaland Real Estate Investment Group Corporation (NVL, HOSE) has decreased sharply by thousands of billions of VND. Immediately after being unstuck, real estate projects in Ho Chi Minh City have been accelerated and completed in early 2024, including projects: The Grand Manhattan, Victoria Village (known as one of Novaland's key projects), Sunrise Riverside.

According to updates from the business, there are currently a total of 7 high-rise towers in the 3 projects above under construction.

This development is a positive signal for Novaland's business activities this year. It can be seen that many Novaland projects have or are facing legal and planning problems. The Government and local ministries have intervened and resolved the problems many times. Therefore, in the past year, resolving project legal problems and debt restructuring were still Novaland's priority tasks.

Dividend schedule this week

According to statistics, 6 companies announced dividend rights this week. Of these, 4 companies paid dividends in cash and 2 companies exercised their purchase rights.

The highest dividend payout ratio is 100%, the lowest is 1%.

Two businesses pay dividends by exercising stock purchase rights, including:

Infrastructure Development Corporation (IJC, HOSE) closed the ex-right trading date on February 26, at a rate of 50%.

Create Capital Vietnam JSC (CRC, HOSE) closed the ex-right trading date on February 29, at a rate of 100%.

Cash dividend payment schedule of enterprises from February 19 - February 25

* GDKHQ: Ex-rights transaction - is the transaction date on which the buyer does not enjoy related rights (right to receive dividends, right to buy additional issued shares, right to attend shareholders' meeting...). The purpose is to close the list of shareholders owning shares.