Vingroup's VIC stock reached its highest level in history, becoming a pillar supporting the stock market's nearly 9-point gain despite over a hundred stocks declining.
A surge of investment into bank stocks in the final minutes of trading propelled the VN-Index from a loss to a 22-point gain, marking its most enthusiastic session since early September.
After a period of strong stock market growth, many open-ended equity funds are becoming more cautious and increasing their cash positions, with some holding over half of their total assets in cash.
Intense selling pressure pushed over 260 stocks on the Ho Chi Minh City Stock Exchange (HOSE) into the red, causing the VN-Index to lose 24 points and extending its losing streak to 5 consecutive sessions.
Bao Viet has invested trillions of dong in stocks and is losing over a hundred billion, while Bao Minh has to set aside provisions for 28 out of 33 stocks purchased.
The Vietnamese stock market ended the week down nearly 7 points, marking its fourth consecutive decline, despite low trading volume and support from Vingroup shares.
The VN-Index fell nearly 6 points as the market entered a "news vacuum," driving liquidity down to under 28,000 billion VND, its lowest level in two months.
Domestic institutional investors account for half of the trading volume in the past 4 months, demonstrating their growing influence in leading the stock market.
Two-thirds of stocks rose, with strong cash flow into blue-chip stocks, helping the market accumulate nearly 10 points in the final session of the week.
After a five-month rally, SGI Capital predicts a potential 10-15% correction in the Vietnamese stock market, bringing the VN-Index down to 1,400-1,500 points.
By the end of August, the stock market had over 10.75 million accounts, an increase of more than 257,000 compared to the previous month, mainly due to new accounts opened by individual investors.
A surge of investment in large-cap stocks like SSI, VPB, and SHB propelled the VN-Index up nearly 13 points in the final minutes of trading, halting two consecutive days of decline.
