Before today's trading session, most securities firms predicted the benchmark index for the Ho Chi Minh City Stock Exchange would recover after yesterday's technical correction. However, the reality was different as selling pressure persisted on leading industry stocks and those with state capital.
The VN-Index traded in negative territory throughout the session, at one point losing nearly 50 points and falling below the 1,850 point mark. The index narrowed its decline in the final minutes due to localized buying in some oil and gas, banking, and chemical stocks. The VN-Index closed near 1,865 points, extending its decline to two consecutive sessions.
Despite the index's decline, advancing stocks outnumbered decliners, with 177 gaining and 147 falling. The Ho Chi Minh City Stock Exchange saw 14 stocks hit their ceiling limit, including three VN30 basket stocks: HDB, STB, and PLX.
Sector-wise, the banking sector showed the strongest divergence. BID fell to its floor price of 50,700 dong, following news of issuing over 264 million private placement shares to 33 investors at 38,900 dong, 29% lower than the market price. The stock closed with over 4 million units remaining at the floor price. VCB, CTG, TCB, and VPB followed with declines ranging from 1,7% to 5,4%.
Conversely, capital flowed into private banks. In addition to HDB and STB hitting their ceiling prices, KienlongBank (KLB) also saw positive performance on its first day of listing over 582 million shares on the Ho Chi Minh City Stock Exchange. This stock rose nearly 6% to 17,150 dong. VIB, ACB, MBB, and OCB recorded gains of about 0,5% to 1,5%.
In the real estate sector, small and mid-cap stocks such as KDH, CII, HDC, HPX, and SCR saw gains, with common increases ranging from 2% to 3%. Conversely, shares of leading real estate companies like VIC, VHM, VRE, VPL, and NVL all closed in the red. Stocks related to Vingroup Group saw sharper declines, mostly above 4,5%.
The steel sector was the most buoyant, with all stocks closing above their reference prices. TVN of Vietnam Steel Corporation hit its ceiling price, rising to 9,700 dong, while HPG, HSG, and NKG saw gains ranging from 1,3% to 4,3%.
Liquidity showed signs of weakening due to cautious investor sentiment. The Ho Chi Minh City Stock Exchange recorded over 1,23 billion shares traded, with a transaction value exceeding 40,700 billion dong. Large-cap stocks accounted for over 26,000 billion dong of this total.
The market saw 12 stocks with trillion-dong liquidity. VHM led the liquidity rankings with nearly 2,300 billion dong. VIX, HPG, VCB, and SSI followed with matching order values ranging from about 1,400 billion to 1,800 billion dong.
Foreign investors continued their selling streak for three consecutive sessions. This group sold over 4,500 billion dong while buying approximately 3,700 billion dong.
Phuong Dong
