Shark money bet another 1,000 billion on Vinhomes

By 2:15 p.m., the VN-Index had fallen about 17 points to 1,090 points. The index once again fell below the 1,100-point threshold. However, foreign institutional cash flow was positive and some stocks remained at the reference price or decreased slightly, thereby helping the VN-Index remain above the strong support level of 1,080 points.

Last week, the VN-Index still recorded a decrease of 46.7 points, equivalent to a decrease of 4%.

In today's trading session, October 23, investors witnessed another session of foreign investors betting on billionaire Pham Nhat Vuong's business.

Foreign investors continued to "pump" more than 1,000 billion VND into Vinhomes (VHM) shares through a series of huge deals early in the afternoon session. Foreign investors bought 26.1 million VHM shares at a price of 43,600 VND/share.

This is the driving force that helps VHM stock maintain its green color with slight price increases or only very slight price decreases at many times, while most of the pillar stocks of the VN30 group decreased quite sharply.

As of early afternoon on October 23, Vinhomes has not yet announced its financial report for the third quarter of 2023. However, according to VNDirect's forecast, Vinhomes' revenue will slow down in the second half of 2023 after strong growth in the first half of 2023 and the second half of 2022.

Foreign investors continue to pour money into Vinhomes shares of billionaire Pham Nhat Vuong.

VNDirect estimates Vinhomes' net profit in 2023 to increase by nearly 27% to VND36,500 billion.

Vingroup (VIC) meanwhile continued to decline, falling below the threshold of VND43,000/share. Vincom Retail (VRE) also fell to VND26,150/share.

Real estate stocks have not performed well recently due to the gloomy real estate market, and the situation of delays and bond extensions is still common in the first 9 months of the year.

Vinhomes recently successfully issued 5,000 billion VND in private bonds to repay debt, with an interest rate of 12%/year.

Recently, billionaire Pham Nhat Vuong's real estate company has promoted a number of social housing projects, including a project in Nam Trang Cat Industrial Park (Hai An, Hai Phong ), a project built on part of the area of Vinhomes Star City (Thanh Hoa) and a project in Dong Ha (Quang Tri) in the second half of 2023.

Many real estate businesses are still facing many difficulties such as Novaland (NVL), Phat Dat (PDR), Hai Phat (HPX)...

At the end of the trading session on October 23, the VN-Index decreased by 14.5 points, down to 1,093.53 points.

Mr. Nguyen Duy Hung's SSI leads the securities industry, Mr. Hien's son makes a breakthrough . Mr. Nguyen Duy Hung's company leads the securities industry in terms of profit. Mr. Hien's son's SHS records a strong breakthrough. However, the market is performing badly and putting a lot of pressure on industry stocks.

Source: https://vietnamnet.vn/dong-tien-ca-map-danh-cuoc-them-1-000-ty-vao-vinhomes-2205655.html