The stock market continued to face adjustment pressure as foreign capital maintained a net selling position. At the close of today's trading session, foreign investors net sold approximately 916 billion VND on HoSE, a 14% decrease compared to the previous session.
VHM of Vinhomes was the stock under the strongest pressure, recording a net selling value of over 349 billion VND. This was followed by VIC of Vingroup with nearly 177 billion VND, and VPB of VPBank with over 113 billion VND.
This development is notable because foreign investors had only just returned to net buying on 22/9 with a value of approximately 65 billion VND, before quickly reversing to strong selling. Previously, foreign investors also net sold approximately 665 billion VND on 21/9 - the day Vietnam's stock market upgrade by FTSE Russell became effective.
In today's session, stocks continued to fluctuate sharply as the VN-Index lost the important psychological mark of 1,800 points early on. Selling pressure appeared in many large-cap stocks, then spread throughout the market, causing the general index to be in the red all day.
The VN-Index closed above 1,775 points, a decrease of over 26.5 points compared to yesterday. The entire HoSE floor recorded 219 stocks undergoing adjustment, 2.9 times the number of rising stocks.
Selling pressure dominated most sectors, notably oil and gas, real estate, technology, banking, and securities. However, the "Vin family" duo, VIC and VHM, were still the two codes contributing the most to the VN-Index's decline, with a total of nearly 15 points. Among them, Vingroup's stock closed down 2.5% of its market value, while VHM fell by 4.1%.
However, the market still saw a divergence of cash flow, as some blue-chip stocks maintained gains. Notably, MSN rose by 1.4% and GVR edged up by 2%.
During the volatile stock session, liquidity slightly decreased by over 6%, falling to nearly 16,700 billion VND. The total trading value remained consistently low, indicating that cautious sentiment is prevailing.
Given the current context, Beta Securities (BSI) still recommends a phased disbursement plan, targeting stocks with strong fundamentals, growth prospects, reasonable valuations, and high safety margins. Investors are advised to remain patient and wait for suitable price levels, rather than reacting to short-term fluctuations of the index.
BSI further noted that the upcoming QIII earnings season will provide additional data to re-evaluate the prospects of individual businesses and adjust portfolios more appropriately. Accordingly, investors can utilize market fluctuations to accumulate positions incrementally, while maintaining discipline regarding purchase prices and safety margins.
Tat Dat
