Selling pressure surged, particularly in Vingroup and banking stocks, causing the VN-Index to lose over 34 points in its sharpest correction in nearly a month.
Vingroup shares extended the VN-Index's four-session winning streak, briefly surpassing a key psychological threshold before retreating sharply to close below 1,800 points.
Global crude oil prices reached their highest level since the beginning of the month, triggering a rally in oil and gas stocks, with Petrolimex hitting its ceiling price near 38,000 dong.
State-owned enterprise stocks attracted capital, becoming the main driver of the VN-Index during a session marked by gains but also significant differentiation.
Large-cap stocks surged, with FPT hitting its ceiling price and no sellers, contributing to the VN-Index gaining over 27 points in the early August trading session.
The VN-Index reversed on the final trading day of the month, marking its second consecutive monthly correction with a drop of over 124 points, or 6,68%.
Dominant buying demand, led by securities, retail, and banking stocks, propelled the VN-Index up nearly 40 points, marking its strongest gain since early April.
Dragon Capital forecasts short-term stock market volatility, but many business valuations are attractive after a deep correction, suitable for accumulation over the next 2-3 years.