As of 2 pm of August 9, the latest trading session last week, FPT share prices had increased by VND4,800 to VND126,200 per share.

As for banks, BIDV (Bank for Investment and Development of Vietnam) shares (BID) saw the price increase by VND900 per share to VND46,900, Vietinbank (CTG) by VND1,150 to VND31,350, HDBank (HDB) by VND650 to VND25,600 per share.

Securities companies also saw share prices increase significantly. SSI, for example, saw the price increase by VND1,400 to VND31,400 per share.

It was a surprise that the shares of Vingroup and its subsidiaries did a U-turn and decreased after two sessions of sharp increase. As of 2 pm August 9, Vinhomes (VHM) price had fallen by VND400 to VND37,200 per share, Vingroup (VIC) by VND500 to VND41,300, Vincom Retail (VRE) VND100 to VND17,550 per share.

The VN-Index had increased by 16 points to 1,224 points.

Closing the trading session, the VN-Index increased by 15.32 points (+ 1.27 percent) to 1,223.64 points, while the HNX-Index rose by 1,175 percent to VND229.38 points.

Among key stocks, FPT increased by VND5,500 to 126,900 per share, Vinhomes (VHM) decreased VND400 to VND37,200, Vingroup (VIC) decreased VND600 to VND41,200, and Vincom Retail (VRE) decreased VND150 to VND17,500 per share.

Prior to that, on August 7, Vin-family shares saw sharp price increases. VHM hit the ceiling level after Vinhomes announced a plan to purchase 370 million VHM, or 8.5 percent of VHM in circulation. The upward trend was also seen the next day, August 8. 

However, strong sales by foreign and domestic investors at the two previous sessions and the August 9 session caused share prices to decrease.

Though the selling pressure eased on a large scale on August 9, that caused the stock market performance to become more active, and the liquidity was not high because the demand was weak. As of 2.15pm, only VND11.7 trillion worth of shares had been transferred at HOSE (HCM City Stock Exchange).

The stock market got warmer as investors regained confidence after worries about the weak performance in the international and domestic financial markets.

The information that US stocks bounced back on August 8 had a positive impact on investors’ feelings.

S&P 500 broad-based stock index increased by 2.3 percent to 5,319 points, the sharpest increase since November 2022. Good news about the employment rate promoted investors’ confidence in the US economy after the sale in the market earlier last week. Down Jones Index increased by 1.8 percent, and Nasdaq Composite by 2.9 percent.

In Vietnam, cash flow to the stock market was not strong and foreign investors kept selling more than buying. However, the selling pressure was no longer high. Therefore, most stocks got benefits from this and increased in price.

FPT share prices increased sharply as the technology firm still performed well, especially in software exports and cooperation with the world’s tech giants.

The ‘AI wave’ earlier this year in technology and stock markets all over the globe has helped FPT make a breakthrough and become the largest private enterprise in the stock market.

The AI wave is no longer as strong, but is still enough to help FPT attract cash flow once share prices decrease.

On August 9, Vietnamese Prime Minister Pham Minh Chinh signed a decision on establishing a national steering committee on developing the semiconductor industry. The steering committee has the function of researching, consulting, recommending and suggesting plans and solutions to develop the industry in Vietnam; and connect ministries, ministerial agencies, governmental agencies and relevant organizations to promote the development of the industry.

This is good news for FPT and its president Truong Gia Binh.

Investors have shown interest in information that SSC is amending policies to help upgrade the Vietnamese stock market from frontier to emerging.

According to SSI Research, the stock market fluctuated more heavily in the first trading sessions of August because of the appearance of new variables. However, the easing of the exchange rate risk and the expected profit growth rate in the second quarter will back up the stock market.

Meanwhile, MBSecurities commented that domestic consumption remains lackluster and a high inflation risk still exists, but everything is still within control.

SSI Research advised investors to keep watch over large economies, because this will affect the recovery process in Vietnam.

Manh Ha