The benchmark index for the TP HCM Stock Exchange closed the final trading session of september at 1,768 points, extending its decline to three consecutive sessions and reaching a one-month low. The index fell by approximately 3,5% compared to the end of last month.
This performance contradicted the predictions of many analysis groups. Previously, most securities companies anticipated the VN-Index could reach 1,900 points, or even surpass 2,000 points to set a new record, driven by the prospect of a market upgrade attracting foreign capital inflows.
Vingroup shares significantly influenced the recent sharp correction of the VN-Index. This stock has seen a decline for three consecutive sessions, causing the index to lose 3-6 points per session since early this week. Today alone, VIC dropped nearly 1%, topping the list of stocks negatively impacting the market.
In the final session of the month, the TP HCM Stock Exchange was immersed in red, with over 170 declining stocks completely overwhelming advancing ones. Among these, seven stocks hit the floor, including two recently familiar names: PNJ and KOS. Both closed with no buyers, while the outstanding sell volume at floor price was 26 million and 31 million shares, respectively.
Liquidity on the TP HCM Stock Exchange remained low, with no single stock reaching a trillion VND in trading value. Today's matched order value was approximately 15,300 billion VND, an increase of over 3,000 billion VND from the previous session, with large-cap stocks contributing more than half. NVL led the matched order value with 960 billion VND, significantly outpacing TCB, VHM, BSR, and VPB.
Foreign investors have not ceased their selling. This group has extended its net selling streak to five consecutive sessions, with increasing pressure. Today, foreign investors disbursed less than 1,000 billion VND, the lowest level in nearly two months. Meanwhile, this group sold nearly 1,900 billion VND, primarily in NVL, TCB, and VHM.
According to analysts at Yuanta Vietnam Securities Company, market quality is relatively weak, evidenced by low liquidity, poor breadth, and a high number of stocks hitting new lows. Investment opportunities exist, but they are not widespread; instead, they are concentrated in a few mid and large-cap groups with prospects for sustained high-profit growth, such as oil and gas, retail, rubber, and consumer goods.
Short-term investors are advised to take profits on investments that have seen significant gains since august to preserve performance, while also waiting for buying opportunities in sectors demonstrating strong resilience or those with positively forecasted Q3 business results.
Phuong Dong
