VN-Index gains continuously, Hoa Phat fined for independent BOD member shortage
Society – Economy - Ngày đăng : 17:34, 04/07/2024
Notably, FPT shares alone increased by 3.66 percent, contributing nearly 2 points to the more than 3-point gain of the VN-Index.
In today’s trading session, the VN-Index continued to rise, but the number of declining stocks exceeded the number of gaining stocks.
In the previous session, banking stocks provided momentum for the market, but in this trading session, there was differentiation. For instance, VCB, EIB, ACB, MBB, SSB, CTG, and VIB declined by nearly 1 percent. Conversely, LPB increased by 3.81 percent, while HDB, VPB, BID, CTG, OCB, and TPB rose by nearly 1 percent. Meanwhile, the securities group maintained a positive increase including VND by 2.47 percent and VDS by 2.3 percent.
The real estate and construction sector also showed significant differentiation. Specifically, DIG declined by 1.09 percent, DXG by 1.89 percent, and VRE, KBC, VCG, NVL, SZC, HHV, and BCM decreased by nearly 1 percent each. In contrast, NTL increased by 6 percent. The manufacturing group had a positive trading session especially BSR by 3.17 percent, GVR by 1.11 percent, VGT by 3.16 percent, and DRC by 2.86 percent. Technology stocks performed well, with VGI rising by 3.61 percent alongside FPT, CMG by 2.55 percent, and ELC by 2.82 percent.
At the close of the trading session, the VN-Index gained 3.04 points (0.24 percent) to reach 1,279.89 points, with 179 gainers, 207 decliners, and 91 unchanged stocks.
At the close of the session on the Hanoi Stock Exchange, the HNX-Index also increased by 0.45 points (0.19 percent) to reach 241.88 points while there were 92 gainers, 69 decliners, and 67 stocks remaining unchanged. Trading liquidity decreased, with a total transaction value of approximately VND14,000 billion on the HOSE, down about VND1,600 billion compared to the previous session.
Foreign investors continued to be net sellers, with a net selling value of over VND577 billion on the HOSE. In June 2024 alone, foreign investors net sold nearly VND14,500 billion on the HOSE. Cumulatively for the first six months of 2024, foreign investors net sold nearly VND52,134 billion on the HOSE, surpassing the total value of nearly VND24,466 billion for the entire year of 2023.
In related news, the State Securities Commission has recently issued Decision No. 687/QĐ-XPHC on administrative sanctions in the field of securities and the securities market against Hoa Phat Group Corporation (code HPG).
Hoa Phat Group was fined VND112.5 million (US$4,377) in accordance with the Government’s Decree No. 156/2020/ND-CP of December 31, 2020 on administrative sanctions in the field of securities and the securities market for acts of not ensuring the structure and number of independent members of the Board of Directors (BOD).
Specifically, as of May 2024, Hoa Phat has 9 members of the Board of Directors but only 2 independent members of the Board of Directors, not ensuring the number of independent members of the Board of Directors as prescribed (minimum 20 percent).
According to the regulations, at least 20 percent of the members of the Board of Directors of a public company must be independent members. However, as of May 2024, Hoa Phat only had two independent members out of 9 members of the Board of Directors, which did not meet the minimum requirement.