The stock market traded below its reference level for the entire day, except for the initial minutes of the ATO (at-the-opening) order execution. Within the first 30 minutes, the VN-Index dropped below the 1,650-point mark and continued to fall below 1,640 points by approximately 10 h. Although the market later recovered, it failed to regain the 1,650-point level.
In the early afternoon, the general index declined further, at one point nearly 24 points below its reference. After 14 h, the stock market traded sideways with only slight fluctuations. The VN-Index closed at nearly 1,645 points, a drop of nearly 14 points compared to yesterday.
On the HoSE (Ho Chi Minh Stock Exchange) floor, 207 stocks declined, nearly double the number of advancing codes. This indicates a high level of market consensus.
Bluechip stocks continued to drive selling pressure. The VN30-Index chart closely mirrored the general index, with 25 codes in this basket experiencing declines. Among the 10 stocks with the most negative impact on the market, 8 were VN30 constituents.
VHM (Vinhomes) led the decline, contributing nearly 3 points to the general index's fall. Vinhomes stock dropped by 3% today, reaching 101,100 dong per unit. Its trading volume was nearly 280 billion dong, a relatively low level, but over one-half of the matched orders came from active sellers. The market also faced pressure from GAS, FPT, TCB, BID, and VCB.
Conversely, VIC (Vingroup) acted as a key support, preventing the VN-Index from falling too sharply. Vingroup stock rose by 1% to 130,000 dong, with a trading volume of over 313 billion dong. This code contributed over 2 points to the general index.
Additionally, the market saw four stocks hit their ceiling prices. The most prominent were DCM of Dam Ca Mau, with a trading volume of over 374 billion dong, and VTP of Viettel Post, with over 80 billion dong in shares changing hands.
As the stock market declined again, HoSE's liquidity also followed suit. Total transaction value reached nearly 21,700 billion dong, a decrease of over 900 billion dong compared to yesterday. Liquidity remaining below the USD 1 billion mark for three consecutive sessions indicates that cautious sentiment prevails.
The foreign investors' net selling streak extended to its 11th session. Today, they net sold approximately 746 billion dong. Selling pressure was concentrated on the FUEVFVND fund, FPT, and VCB. Conversely, MWG was the only stock to record over one hundred billion dong in net foreign buying.
In its pre-market report this morning, VPBank Securities (VPX) stated that the gains in the previous two sessions were primarily a recovery after a sharp decline. While momentum improved, it was insufficient to confirm a clear reversal trend.
"The market still needs more time to accumulate and absorb previous supply bottlenecks to form a solid price foundation", analysts noted.
Tat Dat
