Stocks sold off, "fell" 64 points from historical peak

Selling pressure increased sharply in the afternoon session of July 29, causing the VN-Index to plummet. In just the last 30 minutes of the session, the achievements accumulated over the past week to bring the VN-Index to a new peak were "blown away".

At the end of the trading session, VN-Index decreased by more than 64 points, equivalent to 4.11%, to 1,493.41 points. VN30-Index also decreased by more than 74 points; HNX-Index decreased by 8.43 points; UPCoM-Index decreased by nearly 2 points.

In the whole market, the total value of matched transactions reached nearly 72,000 billion VND. The board was submerged in red with 314 stocks decreasing in price, 69 stocks hitting the floor; 15 stocks standing at reference; 41 stocks increasing in price, 4 stocks hitting the ceiling.

Chứng khoán bị bán tháo, rơi 64 điểm từ đỉnh lịch sử - 1 — VN-Index decreased in the last 30 minutes of the session (Screenshot).

The stocks could not maintain the green color and turned down sharply, many stocks had to "fall to the floor". Leading the group of stocks negatively affecting the index was TCB. In addition, the codes FPT, LPB, MBB, VPB, ACB ... also recorded negative impacts on the market.

Foreign investors net sold nearly 1,000 billion VND today. FPT was the stock that foreign investors sold the most with a value of more than 600 billion VND, followed by VIX, MWG, VPB, GEX, BID... On the other hand, foreign investors net bought stocks such as VCG, VNM, DIG, NVL, VIC...

Earlier, in the morning session, the stock market recorded a strong correction. Although starting with green and a good amplitude, VN-Index quickly turned around and fell sharply right after the ATO session.

At the end of the morning session, VN-Index decreased by 23.81 points (-1.5%) to 1,533.61 points; HNX-Index decreased by 1.18 points (-0.5%) to 262.61 points; UPCoM-Index decreased by 0.63 points (-0.6%) to 106.31 points.

Expert: Market Downtrend Is a Buying Opportunity

Mr. Truong Hien Phuong - Senior Director of KIS Vietnam Securities - shared that this decline is necessary and the market will have other declines in the near future to bring the market back to a reasonable price range, avoiding the situation of "overheating". The market decline is an opportunity to buy.

"In my opinion, the stock market will continue to increase and break out to 1,700-1,800 points, especially waiting for information that Vietnam will be upgraded at the end of the year," he said.

He analyzed that in an uptrend cycle, there are always correction sessions to “change blood”. Recently, VN-Index has increased from 1,200 points to more than 1,500 points. Therefore, many stocks have given a good profit rate, and investors will sell to “take profit”.

Regarding the continuous increase in recent times, Mr. Phuong stated that there are many supporting reasons. Firstly, the market has accumulated for a long time and entered a reasonable buying price range. Specifically, the current P/E of the Vietnamese market is around 10-12 times, compared to the previous 15-17 times, showing that this increase is reasonable and there is still room. Compared to the world , the average PE is also higher than Vietnam at 15 or more.

Second, the market continuously received positive information such as the KRX system being put into operation, and accordingly, Vietnam has almost completed meeting the key criteria for the KRX to come into operation, and almost completed meeting the FTSE Russell criteria for upgrading.

Some information that is believed to have a positive impact on the market in the coming time includes positive second quarter business results, information on tariff negotiations, the leadership of cash flow, especially derivatives...

Source: https://dantri.com.vn/kinh-doanh/chung-khoan-bi-ban-thao-roi-64-diem-tu-dinh-lich-su-20250729153220804.htm