Early this morning (May 10), investors received positive information about US President Donald Trump's decision to postpone the counterpart tax for 90 days to 75 countries and territories, including Vietnam.
This information has almost completely changed the psychology of investors, from anxiety to excitement. The only move that investors take as soon as the market opens is to order at a ceiling price.
However, they placed orders at high prices and could not buy because the bondholders had kept them tight. This development covered the entire electronic board and helped the market record a record increase.
At the end of today's trading session, the HOSE floor had 534 stocks increasing, of which 372 stocks increased the ceiling and only 7 stocks decreased, the VN-Index increased by 74.04 points (+6.77%), to 1,168.34 points.
In addition to the above records, today's session, the market set a reverse record. That is, for the whole session, HoSE recorded less than 370 million shares matched, equivalent to a trading value of VND 6,300 billion. This is the trading session with the lowest liquidity in many years.
In fact, low liquidity and small transactions make investors feel clearly disappointed. In particular, for investors holding money, who can only " sit and watch" stocks increase but cannot buy when investors are not interested in selling stocks.
One of the factors that create liquidity on the HoSE floor is foreign investors. If domestic investors tighten supply, foreign investors will "open the door" to sell about VND1,400 billion, while the purchase volume will only reach over VND550 billion.
In general, in today's session, foreign investors net sold VND855 billion. Of which, the most net-sold code is KBC (153 billion VND). However, domestic demand is still easily absorbing all the stocks released by foreign investors, so all of these stocks have increased the price.
The main stocks and VN30 groups remain unchanged as all 30 stocks closed at the ceiling price. The highest order match in the group is still SHB with 18.9 million units and far exceeds the second position of SSI with only 5.22 million units.
Another highlight belongs to HPG and MBB as the two stocks with the highest ceiling buying volume in the whole market with 81.2 million and 67.1 million units respectively.
On the HNX floor, the same happenings when HNX-Index passed around the peak in the session until the door. At the closing session, HNX has 221 gainers (139 ceiling gainers) and 18 losers, HNX-Index increased by 15.74 points (+8.17%), to 208.32 points.
The total matched volume reached more than 50.9 million units, worth VND 564 billion. The agreement has an additional 16.1 million units, worth VND211.4 billion.
SSI Research's strategy report says that actual bad news could become a good opportunity. Although it is inevitable that there will be negative impacts in the short term, the long-term benefits for Vietnam will come from a balanced economic growth model.
