In the trading session on August 12, domestic stocks continued to recover, conquering the 1,230 point mark. However, cash flow remained cautious. Two new codes that were "deported" from the stock exchange, HBC and HNG, had mixed developments.
Profit-taking pressure was still mixed, at times the selling side was stronger, pushing the VN-Index to adjust below the reference. In the afternoon session, bottom-fishing demand appeared stronger, causing the main index to reverse, extending the increase until the end of the session, conquering the 1,230 point mark again.
The market was supported by large stocks, with 19/30 VN30 codes increasing in price. FPT became the most active driver, contributing more than 1 point to the VN-Index. HVN followed, closing at the ceiling price of VND20,350/share.
Vietnam Airlines shares have recently been in two opposite states, increasing to the ceiling or decreasing to the limit. The strong adjustment pressure in the past month has caused this stock to "evaporate" more than 40% of its market value.
The banking group also played a decisive role in helping the VN-Index reverse. On HoSE, no bank stocks decreased in price. Green covered more than 20 stocks, with MSB (3.5%) leading the increase. Most of the remaining stocks increased by around 1-2%, although the closing price was not large, it created an optimistic sentiment spreading across the general market. Green dominated nearly 240 stocks on HoSE.
After receiving the official announcement of the mandatory delisting date, HNG of Hoang Anh Gia Lai International Agriculture JSC and HBC of Hoa Binh Construction Group JSC had opposite developments. HBC hit the floor at VND4,630/share, while HNG slightly increased by 1.5% to VND4,140/unit.
From September 6, HBC and HNG will be officially delisted. The reason for HBC's delisting is that the company's total accumulated losses have exceeded its actual contributed charter capital. Meanwhile, HNG has been losing money for 3 consecutive years in 2021, 2022, and 2023. These are all cases of securities subject to mandatory delisting.
At the end of the trading session, VN-Index increased by 6.64 points (0.54%) to 1,230.28 points. HNX-Index increased by 1.39 points (0.61%) to 230.77 points. UPCoM-Index increased by 0.2 points (0.22%) to 93 points. Liquidity decreased slightly with HoSE matching value remaining at nearly 12,000 billion VND.
Source: CafeF
