The first trading session of the week continued to fluctuate and fluctuated strongly. VN-Index finally achieved a slight increase of 0.79 points, equivalent to 0.08% to 992.13 points, although the number of stocks decreasing is still encroaching on the number of stocks increasing (165 stocks decreasing compared to 104 stocks increasing).
HNX-Index, on the other hand, accepted a decrease of 0.22 points, equivalent to 0.2%, to 113.14 points. The number of stocks increased on this exchange is currently 65 stocks compared to 70 stocks decreased.
Market liquidity, however, still reached another level. The total trading volume on HSX reached more than 90 million units, with a trading value of VND 1,992.5 billion. On HNX, this figure is more than 28 million shares, equivalent to more than VND 368 billion disbursed in shares.
The reason why VN-Index still rebounded this morning's session is thanks to the two "big guys" VNM and TCB. VNM alone increased by VND 2,900 to contribute to the index by 1.32 points and TCB increased by VND 1,050 to contribute 1.15 points to the VN-Index.
Recently, F&N Dairy Investment Pte.Ltd has just announced information that this unit had registered to buy 14.5 million VNM shares from August 14 to September 12, 2018, but this intention failed due to "unsuitable market conditions".
During the period when F&N Dairy registered to buy more VNM shares, this code increased by nearly VND 4,000 from VND 128,406 to VND 132,400 (up 3.11%).
Notably, F&N Dairy immediately registered to buy back the old quantity of more than 14.5 million VNM shares, in order to increase its ownership ratio at Vinamilk to 18.31%. The implementation period is from September 17 to October 16, 2018. The transaction is expected to be conducted through the agreement and match-making method on the exchange.
From 2017 to present, F&N Dairy has registered to buy Vinamilk shares 20 times through matching transactions but has continuously failed. The unit is a member of Fraser & Neave Limited, controlled by Thai billionaire Charoen Sirivadhanabhakdi and managed by Lee Meng Tat. Mr. Lee is a member of the Board of Directors of Vinamilk.
With the price increase this morning, the VNM market price is currently at 135,800 VND/share and has increased by more than 15,300 VND, equivalent to an increase of 12.74% compared to the bottom level a year ago (September 22, 2017) and the increase in the past week was nearly 7%.
According to VNM's developments this morning and within the past week, the market is likely to " pour cold water" again in a tiring effort to buy stocks to increase F&N Dairy's holding stake in the "big guy" of Vietnam's milk industry.
In addition to VNM and TCB, a series of stocks GAS, SAB, VPB, PLX, VHC, VHM, PVD, DMC... increased in price, also contributing to the increase in the index. VHC increased by VND 5,000, GAS increased by VND 1,400, SAB increased by VND 1,200.
On the contrary, VIC, BVH, VCB, MSB, VJC, VRE, MBB, CTG, NVL, PNJ... "invited each other" to take the floor.
According to VCBS Securities Company, the VN-Index has experienced a fairly positive week of increase and is approaching the 1,000 point mark. However, in the past month, the general index has been fluctuating in the 950-1,000 point range.
The difference compared to the previous period is the level of fluctuation in the session as well as the fluctuation rate through each session, which tends to increase. Along with that, this week will also be the time when both major foreign ETFs complete their portfolio restructuring activities with large trading volumes that are likely to fall on Friday weekend (21 September).
This partly increases the general risk level in the market, but at the same time opens up more opportunities to seek profits for investors following the short-term "surfing" trading style.
However, both short-term and long-term investors are advised to pay more attention to cash flow during this period in addition to the basic factor of each stock to optimize investment efficiency.
