Ahead of today's trading session, many analyst groups predicted that the index representing the Ho Chi Minh City Stock Exchange would soon break its losing streak as it approached the psychological support level of 1,800 points and liquidity showed signs of improvement. However, the reality was the opposite, as the index continued its downward trend due to localized selling pressure on some large-cap stocks.
The VN-Index briefly fell to 1,798 points, its lowest level since mid-April. In the final minutes of the session, capital inflow into lower-priced areas emerged, narrowing the decline. The index closed at 1,819 points, down more than seven points from its reference level. This marked the seventh consecutive session of decline, resulting in an approximate 70-point correction for the index.
Vingroup-related stocks were the main reason for the market's downturn. VIC fell 3,6%, leading the list of negative contributors to the VN-Index. Two smaller-cap stocks, VHM and VRE, also lost 3,1% and 1,6% respectively.
Despite the index's decline, the market is showing more positive signals. Specifically, the number of rising stocks on the Ho Chi Minh City Stock Exchange outweighed falling stocks, with 168 gainers and 130 losers. Similarly, the large-cap basket saw 20 stocks increase, nearly three times the number of declining stocks.
The banking sector acted as a pillar of support. ACB and OCB both rose more than 3%, while MBB, SHB, MSB, and HDB gained over 1%. Conversely, LPB was a rare stock that faced intense selling pressure, causing its market price to drop nearly 6% to 48,000 VND.
Green also spread to the small-cap real estate sector. Stocks of many developers, such as TTC Land, Hoang Quan, Nam Long, and DIC Corp, all closed the session with gains exceeding 1,5%.
Following a deep correction, the oil and gas sector also regained its positive momentum. All component stocks closed above their reference levels, with typical gains of around 1%. GAS led the increases with nearly 3%, contributing more than one point to the VN-Index.
Today's liquidity on the Ho Chi Minh City Stock Exchange reached over 20,500 billion VND, an increase of 1,000 billion VND from the previous session, marking a one-week high. The market saw three stocks record trading volumes in the trillions of VND: FPT, ACB, and VIC, respectively.
Foreign investors continued their net selling trend. This group bought 2,500 billion VND worth of stocks while selling over 3,200 billion VND. ACB remained the focal point of net withdrawals, with over 15 million shares, followed by VCK and VPB.
Phuong Dong
