Despite lingering doubts about the market's continued upward trend after yesterday's recovery, some analysts recommended investors consider exploratory purchases, particularly in deeply discounted stocks. This contributed to improved investor sentiment today, with buyers consistently outnumbering sellers.
Consequently, the Ho Chi Minh City Stock Exchange's benchmark index traded above its reference level for most of the day, closing near 1,705 points. This 24-point surge marked the strongest recovery in a month. The VN30 index also climbed 25 points, nearing 1,850 points.
Analysts at Yuanta Vietnam Securities Company indicated a high probability of a short-term market bottom forming. They forecast the VN-Index will continue its recovery towards 1,710 points, potentially extending to 1,730 points. The firm stated, "The market is presenting short-term trading opportunities across numerous stocks following the recent significant discounts."
The Vingroup group significantly drove this recovery, contributing nearly 18 points to the index. Two key stocks, VIC and VHM, surged 2,6% and 6,1% respectively, while VRE reversed its earlier decline to hit its daily ceiling price.
Sector-wise, the oil and gas group was the sole sector to show a unified upward trend. All its component stocks closed above their reference prices, with gains ranging from 0,3% to 2,6%, buoyed by improving global crude oil prices.
Within the banking sector, several major stocks like VCB, BID, CTG, and HDB saw gains, though none exceeded 2%. Conversely, declines were primarily observed among mid- and small-capitalization stocks.
The securities sector also displayed significant divergence. While VCI, VCK, TCX, and SSI aligned with the broader market recovery, VPX, VIX, and HCM closed below their reference prices.
Liquidity on the Ho Chi Minh City Stock Exchange sharply declined today, falling below 14,500 billion VND. Capital flow was concentrated in a few leading stocks: VIC, VHM, HPG, SHB, and SSI. The trading value of the VN30 basket alone constituted 65% of the total market.
Foreign investors continued their selling streak for a sixth consecutive session, though capital outflow pressure significantly eased compared to earlier in the week.
Phuong Dong
