Illutstrative image (Photo: VNA)
Hanoi (VNS/VNA) – Securities companies earned a profit of 166 trillion VND (71.8 million USD) from selling local equities in the January-September period.
In January-September, securities firms bought in a total of 1.1 billion shares and fund certificates, worth 27 trillion VND.
They offloaded 126 billion shares and certificates, worth more than 28.6 trillion VND.
Securities firms, through their proprietary trading units, recorded five months of net selling and four months of net buying this year.
In April, they offloaded a net value of 1.9 trillion VND. In September, securities firms sold a net value of 726 billion VND.
A popular target for proprietary trading teams was fund certificates of the domestic exchange-traded fund E1VFVN30 ETF, which they net-bought a total of 362.4 billion VND in nine months.
Other stocks that were also on the must-buy list included Vietcombank (VCB), Viglacera (VGC) and Phu Nhuan Jewellery JSC (PNJ).
On the other hand, the must-sell list contained fund certificates of FUEFVND ETF, animal feed producer Dabaco JSC (DBC), petrol firm Petrolimex (PLX), consumer company Masan (MSN), Military Bank (MBB) and dairy group Vinamilk (VNM).
The harsh condition of the stock market not only forced securities firms to net-sell local assets but also triggered prolonged selling among foreign investors.
Foreign investors in the first three quarters sold a total net value of 2.4 trillion VND worth of shares and fund certificates.
The benchmark VN-Index has fallen 531 percent since the beginning of the year.
On the contrary, the minor HNX-Index has gained nearly a third in the same period and the UPCoM-Index has increased by 10.2 percent./.
- Contrary to foreign investors, self-dealing securities companies bought back 1,379 billion dong in October 19-23
- Week August 31 – September 4: Foreign investors sharply reduced their net selling, CTG and PLX attracted trillion dong
- Proprietary investors gathered 1,200 billion VND in August and poured money into CTG shares
- Rosy signs for domestic securities market
- Smart cash flow 3/9: Self-employed gathered more than 230 billion VND before the holiday, focusing on VGC
- SSI asset management to IPO new fund by end of June