VN-Index extended its increase as all 30 stocks in the VN30 group increased in price, including MSN (HM:MSN) being pulled up to the ceiling price of VND66,900/share. 11:30: At the end of the morning session, VN-Index increased by 19 points to nearly 1,130; HNX-Index increased by 2.4 points and UPCoM-Index increased by 0.44 points. Despite recording a strong increase after positive signals about the possibility that the Fed will end its 2-year interest rate hike cycle, no group really stood out in this morning session.
The major industry indices increased within the range of 1 – 2.5%. Some stocks that left a clear mark were EVF (HM:EVF), NHH (HM:NHH), MHC, which increased to the full range.
Liquidity increased sharply in the first half of the morning session before slowing down before the break. The total value recorded on the three floors reached VND11,700 billion.
Foreign investors reversed and bought slightly VND104 billion on the HOSE floor (temporarily ending the streak of 6 consecutive net selling sessions). However, selling pressure on UPCoM increased to VND16 billion.
HDB (HM:HDB), SSI (HM:SSI), PDR (HM:PDR) are the codes that were bought over 1 million shares. On the contrary, MWG (HM:MWG) shares were sold the most but the volume was only 800,000 units. This morning, the code increased by 1.5% to 42,100 VND/share.
See also: MWG Chairman: MWG shares fall to challenge investor confidence
10:15: The market's upward momentum was increased by demand in pillar stocks. All 30 stocks in the VN30 group increased in price, of which MSN was pulled up to the ceiling price of VND66,900/share; VNM (HM:VNM) increased by 4.1%; the remaining stocks increased from 1 - 3%.
VN-Index increased by 22 points and surpassed the 1,130 mark; trading volume 1 hour after ATO reached 7,700 billion VND.
See also: This day last year, VN-Index lost 30 points, 380 stocks hit the floor
9:30: VN-Index increased by 16 points and surpassed the 1,125 point mark; positive status was recorded in all industry groups, notably the securities group. The codes MBS (HN: MBS), SHS (HN: SHS), VIX (HM: VIX), VCI (HM: VCI) all increased above 3% with large liquidity.
Nearly VND3,200 billion in transaction value was recorded on all three exchanges – a sharp increase compared to previous sessions.
The whole market had nearly 700 stocks increasing in price and just over 50 stocks decreasing in price.
See also: Will foreign investors stop net selling Vietnamese stocks?
Commenting on the short-term market developments, experts from Saigon - Hanoi Securities (SHS) said that if VN-Index successfully tests the support level of 1,100 points, there is a high possibility that it will continue to increase but with a narrowing amplitude. With a positive recovery state, the new equilibrium area for accumulation is likely to be in the range of 1,100 - 1,150 points.
“From a short-term perspective, the strong recovery momentum has brought the VN-Index back above the support level of 1,100 points. However, this recovery is technical and will be difficult to sustain. The market is currently retesting the important support level of 1,100 and we expect the market to successfully test the support and continue the recovery trend but will soon encounter short-term resistance at 1,150 points,” SHS said.
ATO session derivatives market
Derivative market indices rose early to the 30-38 point threshold in the ATO session following positive information from US inflation data in October 2023.
Entering the continuous order matching session, all 4 futures indices increased by more than 20 points.
Updated information from the US Department of Labor, the US CPI in October increased by 3.2% compared to the same period and was unchanged from the previous month and 0.1% lower than the forecast of experts. Core CPI increased by 0.2% - the lowest level since September 2021.
The lack of inflation in the US is welcome news for policymakers at the US Federal Reserve (Fed), who have kept interest rates at a 22-year high and are closely monitoring economic data to make their next move.
Since March 2022, the Fed has raised interest rates 11 times to 5.25 - 5.5%.
After the October inflation report, traders expect the Fed to end its rate-hike cycle.
In response to the above information, the US stock market was filled with green on November 14. At the close, the Dow Jones increased by 490 points (+1,43%) to 34,827.7 points; the S&P 500 increased by 1,91% to 4,495.7 points and had the strongest increase since April 2023. The Nasdaq Composite even increased by 2,37% to 14,094.4 points.
Compared to the beginning of November, the S&P 500 and Dow Jones increased by 7.2% and 5.4% respectively while the Nasdaq increased by 9.7%.
