After the initial 15 minutes of processing opening orders, market liquidity in Ho Chi Minh City (TP HCM) today remained lower than the same period in the previous session, with a difference of 2,000-3,000 billion dong. Even in the afternoon, typically a more active trading period, capital inflow into stocks did not significantly improve.
The total transaction value recorded today exceeded 15,100 billion dong, marking a 36% decrease compared to the previous session. This indicates a cautious sentiment among investors.
Low liquidity coincided with continued negative movements in the stock market. In the morning, the benchmark VN-Index on HoSE largely stayed above its reference level, at one point surpassing 1,780 points, supported by large-capitalization stocks. However, closer to the midday break, the market turned red and remained so until the close.
The VN-Index closed near 1,765 points, dropping almost 12 points from yesterday. This marks the second consecutive session of market correction.
Selling pressure dominated, with 209 stocks on the HoSE losing value, double the number of stocks that gained. All sectors, except technology, saw their industry indices decline.
According to calculations by VnDirect, Vingroup's VIC stock had the most negative impact on the index, contributing over two points to the overall decline. This stock closed at 218,800 dong, down 0,5%; its liquidity was the second highest in the entire market at over 1,055 billion dong.
Additionally, the VN-Index faced pressure from the banking sector. Stocks such as CTG, MBB, TCB, LPB, VPB, VCB, and STB were among the 10 codes contributing the most to the overall index decline.
Conversely, VHM and DGC provided positive support. Vinhomes' VHM stock rose 0,8% today to 77,100 dong. It led the market in liquidity with over 1,336 billion dong. Meanwhile, Duc Giang Chemical Group's DGC stock hit its ceiling price by late morning, closing at 43,350 dong.
The market also reflected increased caution as foreign investors returned to net selling after three prior sessions of net buying. Today, foreign investors net sold approximately 121 billion dong, primarily focusing on VHM and VPB. However, they still net bought nearly 229 billion dong of VIC.
In its pre-market report this morning, Beta Securities (BSI) noted that selling pressure intensified as the index moved into higher price ranges. The VN-Index is currently still primarily supported by a few large-capitalization stocks, while most other sectors experienced mixed performance or slight corrections, indicating that capital flow has not yet spread broadly.
BSI recommends that investors consider partial disbursement when the market experiences corrections but maintains important support zones. The priority should be fundamentally strong businesses with positive business results and attractive valuations.
Tat Dat
