Before the week's first trading session, most securities companies predicted the VN-Index would trade sideways within a narrow range due to a lack of supporting information, leading to cautious investor sentiment. Others believed the index might recover slightly thanks to cash flow disbursed at low prices after 4 consecutive losing sessions.
Neither scenario materialized. The market moved in a direction few investors anticipated: a sharp decline amid low liquidity. The HOSE's representative index traded above the reference point for only the first few minutes before reversing course and continuously widening its decline. At one point, the VN-Index lost over 42 points, while the VN30 dropped nearly 60 points.
Buying pressure in the final minutes of the session helped the index narrow its losses to 24 points, closing at 1,634. This marks the 5th consecutive session the market closed below the reference point.
Over 260 stocks declined on the HOSE, nearly 4 times the number of gainers. The large-cap basket was also dominated by red, with 27 stocks declining, leaving only BID and TPB bucking the trend, becoming crucial market supports.
VIC led the list of stocks with the most negative impact on the VN-Index, falling nearly 3% to 148,800 VND. The following stocks were all from the VN30 basket, including CTG, VHM, VCB, VPB, and HPG.
By sector, the securities group faced the strongest selling pressure. Except for VIX, which remained in the green, leading stocks like SSI, VCI, HCM, and VND all fell more than 2% compared to the reference point.
In the banking sector, EIB led the decline, losing 4.2% to 25,000 VND. Leading stocks such as CTG, VPB, HDB, TCB, and SHB also corrected by more than 2%.
Steel, seaport, and oil and gas stocks were all heavily sold by investors. HPG extended its correction, losing another 2.9% to 28,400 VND. GAS and PLX, two leading oil and gas stocks, fell 1.4% and 1.1%, respectively.
Real estate was one of the few sectors with strong divergence. While large and mid-cap stocks like VHM, VRE, NVL, NLG, and KDH closed in the red, small-cap stocks like PDR, LDG, HDG, and DIG remained in the green. These stocks mostly accumulated 1-2% compared to the reference point.
Market liquidity reached over 35,100 billion VND, an increase of over 6,000 billion VND compared to the previous weekend. However, compared to the previous month's average, this figure decreased by nearly 15,000 billion VND. Seven stocks achieved a trading value of over one trillion VND. HPG led with 1,890 billion VND, followed by SSI, VIX, FPT, VPB, and SHB.
Foreign investors continued their selling streak for the 4th consecutive session. This group disbursed 3,350 billion VND while selling approximately 5,100 billion VND. CTG and MBB were the focus of foreign net selling, with volumes reaching 5.5 and 5.1 million shares, respectively.
Some securities companies haven't ruled out the possibility of the index continuing to correct sharply due to the less exciting QIII earnings season and profit-taking needs after a period of rapid growth.
According to ACB Securities Company's analysis team, if selling pressure persists, the VN-Index could retreat to 1,600 points. This is a crucial psychological threshold for establishing a short-term trend. If strong and stable "bottom-fishing" demand emerges at this price level, the market could re-establish an upward trend.
Phuong Dong
