HCMC – The Hochiminh Stock Exchange (HOSE) removed two real estate stocks – NVL of No Va Land Investment Group Corporation and PDR of Phat Dat Real Estate Development JSC – from the VN30 list of the top 30 companies with the largest market cap.
The two stocks will be replaced by SHB of Saigon Hanoi Commercial Joint Stock Bank and SSB of Southeast Asia Commercial Joint Stock Bank on August 7.
In April, Novaland received a warning from the stock exchange due to its delay in submitting its financial reports. This has resulted in NVL falling short of the criteria required to stay on the VN30 list.
Meanwhile, Phat Dat’s market cap fell below the threshold of the top 40 companies, prompting the southern bourse to remove its PDR shares from the list.
NVL has increased by 6% in the year to date, while PDR has risen by 12%.
With the addition of SHB and SSB, the VN30 list now consists of 13 bank stocks, including ACB, BID, CTG, HDB, MBB, STB, TCB, TPB, VCB, VIB and VPB.
The VN30 Index was introduced by the HOSE in February 2012, comprising the 30 stocks with the highest market cap and liquidity on the market.
Currently, there are four Exchange Traded Funds (ETFs) that use the VN30 index as a reference, including VFM VN30, SSIAM VN30, Mirae Asset VN30, and KIM VN30. Together, these funds hold an estimated total asset value of over VND8.9 trillion.
SSI Research has projected that those ETFs are likely to buy 14 million SSB shares and 19 million SHB shares while selling 8.8 million NVL shares and 2.5 million PDR shares.
Regarding the stock market movement today, July 18, the market closed with 188 stocks rising and 272 others declining.
The VN-Index gained a modest 0.08%, equivalent to 0.96 points, ending the day at 1,174.09 points.
The total trading volume surpassed 837.1 million shares with a value of nearly VND16.8 trillion, down 8% in volume and 10% in value compared to the previous session. There were over 81.7 million shares traded through block deals, contributing more than VND1.9 trillion to the overall value.
With 10 winners and 17 losers, the VN30-Index of the VN30 basket added 2.24 points to 1,166.82 points.
Bank stocks within the VN30 list, including TPB, VPB, STB, TCB, and BID, provided significant support to the market thanks to notable gains during the trading session.
TPB led the way, advancing 3.8% to VND18,950 per share, and took the lead by liquidity on the southern market with 37.3 million shares matched.
VPB edged up by 2.4% to VND20,950, while others grew within a modest range of 1.1% to 1.6%.
Moreover, a slight uptick was observed in stocks VNM, CTG, VIB, GAS, and POW, with gains ranging from 0.1% to 1.1%. However, other bluechips finished the day down from 1% to 1.3%, including NVL, VJC, PLX, VRE, MWG, and PDR.
Among the declining stocks, NVL recorded the highest trading volume with over 28.4 million shares traded, followed by SSI and HPG with 12.4 million shares each.
Certain small and mid-cap stocks such as POM, HDC, IMP, VRC, and GMC caught the attention of investors, soaring to the daily trading limit.
On the Hanoi market, decliners outnumbered advancers by 104 to 85, yet the HNX-Index managed to rebound and closed near the reference level, up 0.01 points to 230.96 points, backed by the recovery of some large-cap stocks.
There were 95.8 million shares valued at VND1.4 billion changing hands on the northern market.