The stock market opened positively, quickly testing the 1,900-point mark within the first hour of trading, but failed to sustain it. Afterward, the HoSE benchmark index retreated to around the 1,890-point level, exhibiting a 'green shell, red core' pattern (meaning some stocks rose while the majority fell). As the midday break approached, selling pressure intensified, pulling the VN-Index below its reference level.
The market briefly turned green early in the afternoon, but declining stocks still outnumbered gaining ones by a two-to-one margin. After 14h, the main index dipped below the reference level and saw a significantly sharper decline during the after-hours trading (ATC) session. By the close of trading, the VN-Index settled near 1,871 points, down nearly 12 points from yesterday.
Across the HoSE, 251 stocks declined, three times the number of advancing stocks. This significant disparity indicated a stronger market consensus for declines compared to yesterday.
Stocks of state-owned enterprises significantly impacted trading today. Among the top contributors to the VN-Index's decline were: VCB, GAS, BID, GVR, BSR, VNM, CTG, BCM, and FPT. All of these are state-owned enterprises. Notably, BSR and BCM hit their daily lower limits with hundreds of billions of dong in liquidity.
Conversely, the 'Vin' duo, VIC and VHM, acted as market stabilizers. Today, VIC rose by 2.7% from its reference price, while VHM added 1.7%.
For most of the session, the VN-Index managed to stay in positive territory despite overwhelming selling pressure, thanks to the resilience of Vingroup and Vinhomes stocks. Without the contribution of these two stocks, the index could have fallen by nearly 21 points.
A silver lining was the corresponding decrease in liquidity. Total trading value on the HoSE reached over 29,300 billion dong, approximately 4,300 billion dong less than yesterday. This marked the lowest level in over half a month.
Foreign investors continued their net selling, but the amount narrowed to around 200 billion dong, the lowest figure since late last year. VCB, VHM, and CTG were among the stocks with over a hundred billion dong in net selling. Conversely, foreign investors actively bought STB, TCX, and PLX.
Overall, the VN-Index corrected by over 8 points this week. Except for the first session of the week, the market saw continuous declines. However, the index repeatedly attempted to retest the 1,900-point mark but was unsuccessful.
As early as yesterday's session, Vietcombank Securities (VCBS) noted selling pressure on several large-cap stocks that had seen strong gains in preceding sessions. Therefore, the analysis team recommended investors maintain their positions in available portfolio stocks that were recovering from support zones. Additionally, they advised selecting stocks that held their support levels for phased disbursements.
Tat Dat
