Before today's trading session, many investors expected market enthusiasm after the Minister of Finance said Vietnam had made efforts to meet FTSE's upgrade criteria. However, the excitement only lasted through the morning session, with the VN-Index at one point accumulating over 12 points, approaching the 1,700-point mark. The rally gradually weakened due to profit-taking pressure on small and mid-cap stocks.
The VN-Index lost ground from 2 PM and gradually widened its decline. The index representing the Ho Chi Minh City Stock Exchange closed at 1,681 points, breaking a five-session winning streak. Despite the slight drop in points, the market was awash in red with 210 stocks closing below the reference point, nearly double the number of gainers.
Securities stocks were under heavy selling pressure, with most closing in the red, with declines typically ranging from 1.5% to 3%. VIX was one of the few stocks to buck the trend, rising 1.5% to 38,000 dong.
The oil and gas group was also dominated by declining stocks, except for PLX, which maintained a 0.6% increase to nearly 36,600 dong. Similarly, all steel stocks closed below the reference point. HPG lost 1.3%, while smaller-cap stocks like NKG, HSG, and TLH lost 1% to 3%.
Vingroup stocks were the main factors dragging the VN-Index down. VIC and VHM occupied the top two spots on the list of stocks with the most negative impact on the index, falling 2% and 1.7%, respectively.
Conversely, banking stocks became a support for the market, although the gains were not too significant. MBB gained 2.4% to 27,500 dong, while SHB, CTG, and TCB all increased by about 1% to 2%. KLB, a stock currently trading on the UPCoM market, hit its 15% ceiling today, reaching 27,700 dong, after the Ho Chi Minh City Stock Exchange announced it had received the bank's listing application.
Despite breaking its upward trend, the market showed positive signs in terms of liquidity. Today's trading value reached over 41,200 billion dong, an increase of nearly 4,000 billion dong compared to the beginning of the week. More than half of this came from large-cap stocks.
Ten stocks on the Ho Chi Minh City Stock Exchange reached trillion-dong liquidity. VIX led with over 2,430 billion dong, followed by VPB (2,253 billion dong) and HPG (2,018 billion dong).
Foreign investors returned to net buying after a period of aggressive selling. This group disbursed approximately 4,620 billion dong, while selling over 4,560 billion dong. MSB became a focal point for foreign capital, with nearly 12 million shares bought net, followed by VIX, MBB, and TCB.
Phuong Dong
