The stock market opened in the green. However, after the opening auction, the market entered a state of "green outside, red inside". The general index remained above the reference point, but the number of declining stocks exceeded those advancing.
Within the first hour, nearly two-thirds of the stocks on the Ho Chi Minh Stock Exchange (HoSE) were declining, yet the VN-Index remained above 1,650 points. Blue-chip stocks acted as a pillar for the market, with the VN30 index increasing by more than 17 points, notably VIC, MBB, and VPB.
This "green outside, red inside" situation persisted. Only in the minutes leading up to the lunch break did the general index fall below the reference point, though the decline was not substantial.
Throughout the first half of the afternoon, the market fluctuated between green and red, with selling pressure dominating. Close to the closing auction, the market showed signs of a deeper decline into double digits, at times falling more than 19 points as sellers took control.
Recovering in the final minutes of trading, the VN-Index closed at 1,630 points, down almost 11 points from the previous day. This marked the market's first decline after a 9-session winning streak. The drop was also the most significant since 29/7, the day the market corrected by 64 points.
On the HoSE, 261 stocks declined, three times the number of gainers and representing nearly 70% of the total listed stocks. After many sessions, the market saw light blue appear on the board, indicating three stocks hitting their floor prices: NBB, DLG, and PNC.
Bank stocks BID, VCB, CTG, and TCB had the most negative impact on the market. Meanwhile, VJC, BSR, MBB, and VIX served as support, preventing a deeper decline for the VN-Index.
Liquidity recovered during the correction. Total trading value on the HoSE reached nearly 59,100 billion Vietnamese dong (VND), an increase of 6,300 billion VND compared to the previous day. This surge in cash flow came mainly from the second half of the afternoon, coinciding with the heightened selling pressure.
Market sentiment also turned more negative as foreign investors increased their net selling to approximately 3,016 billion VND on the HoSE. This was the highest level since 4/8.
HPG saw net selling of over 700 billion VND, FPT nearly 508 billion VND, and MBB 494 billion VND. Foreign investors also focused on withdrawing capital from VPB, VCB, VHM, SHB, MWG, and STB. Conversely, VIX was the only stock with net buying exceeding 100 billion VND.
This week, the market experienced 4 consecutive gaining sessions before reversing today. Overall, the VN-Index still accumulated 45 points compared to the closing level of the previous week. Liquidity remained high, averaging nearly 51,800 billion VND per session. However, foreign investors continued to sell net, with the last three sessions of the week recording values exceeding 1,000 billion VND.
Many securities companies predict that the general market trend will remain upward. However, there are potential unexpected corrections as profit-taking pressure appears to be increasing.
Beta Securities (BSI) suggests that investors can seek opportunities in leading stocks, especially those attracting strong cash flow and having a good prior accumulation base. However, experts advise waiting for corrections to make partial investments instead of chasing high prices. Investors should also monitor volume and price movements to identify reversal signals promptly, enabling them to secure profits.
Tat Dat
