Real estate was the focal point of the last week thanks to news released from the government’s conference on removing difficulties in the real estate market held on August 3.
Many real estate shares have begun increasing in prices, including Vingroup shares (VIC) owned by the dollar billionaire Pham Nhat Vuong (+ 20.8 percent), of Vinhomes – VHM (+ 7 percent). These are shares belonging to VN30 group and the major driving force that has helped the VN Index increase sharply.
VIC’s liquidity has improved considerably recently. On August 4, the number of matched orders reached 21.2 million stock units, the highest level since its listing in 2007.
Prime Minister Pham Minh Chinh emphasized on the message of the conference is to remove difficulties so that the real estate market can develop sustainably and healthily. The implementation of Resolution 33 has brought initial outcomes, with the situation of next month better than the previous month and the next quarter better than the previous quarter.
Last week witnessed impressive price increases of some shares, including Novaland (NVL), Hai Phat (HPX), Hung Thinh Icons (HTN), Hoang Huy (TCH), Cen Land (CRE), Hoang Quan (HQC) with prices hitting ceiling levels at many trading sessions.
NVL of Novaland, for example, was traded at VND19,800 per share at the last session of the week. However, the debt restructuring remained a challenge, though the realtor has reached agreements on payment rescheduling with bond holders.
In addition to real estate shares, bank shares also gave the stock market a push. Eximbank shares (EIB) saw prices increase by 16.4 percent, ACB by 9.9 percent, Vietinbank (CTG) 5.1 percent, and BIDV 3.6 percent.
In general, the VN Index last week witnessed heavily fluctuations with alternate sessions of ups and downs. When facing the profit-taking pressure, the index reversed in the last trading session with the increase of 15.1 point, climbing to 1,225.98 points.
The liquidity maintained its upward trend with the average trading value of VND26.547 trillion of three bourses, up 12.9 percent over the week before. The net purchase value of foreign investors last week decreased to VND60 billion on the HCM City bourse (92.4 percent lower than the week before). Meanwhile, foreign investors bought more than they sold, by VND67 billion, up 24.1 percent on the Hanoi bourse.
Finance and food share prices also increased significantly. MHC caught investors’ attention when hitting ceiling prices for four consecutive sessions. Just within half a month, the share saw the price surge by 63 percent.
MHC's consolidated finance report of the second quarter was released which showed the company had a big investment deal in Eximbank (EIB), VIX Securities Company (VIX), Gelex Group (GEX), totaling VND510 billion as of the end of June.
EIB, GEX and VIX prices increased considerably recently in accordance with the upward trend in the market and positive performance.
The stock market has recovered positively in the first half of 2023 and has hit the 10-month peak, prompting many financial investors to go ashore. Many of them have made a fat profit.
Analysts note that food shares are benefiting because of food price fluctuations in the international market.
The food share that saw the sharpest price increase last week on UpCom was VSF of Vinafood 2. The share saw prices increases at all five trading sessions of the week, by 95 percent in total. Just after two weeks, VSF price soared from VND7,900 per share to VND28,500 per share.
The food share price has been increasing because investors believe Vietnam will greatly benefit from India’s decision to ban rice exports.
Dinh Quang Hinh from VnDirect Securities believes that with the good news, the VNIndex may go further to the 1,235 resistance zone (+/- 10 points).
Manh Ha