At 9:30 AM on September 26th, the VN-Index lost another 2 points, falling to 1,151 points.
Opening the trading session on the morning of September 26th, investors continued to fear a market decline, aggressively selling off low-priced stocks. However, due to offsetting capital inflows, the market and stocks did not hit the floor limit as predicted.
After 15 minutes of opening auction (ATO), the VN-Index surged by approximately 6 points to 1,159 points. At this point, many investors intensified selling pressure, causing the VN-Index to reverse direction and fall slightly below 1,150 points.
The stock groups that experienced the biggest declines were seafood processing (down 2.6%), real estate (down 0.79%), financial services (down 0.7%), and mining (down 0.5%).
On the positive side, several securities stocks have rebounded after a series of consecutive days of falling to the floor price, such as MBS, SSI, SHS, FTS, HCM, VCI, BSI..., while many others have returned to their reference levels.
Liquidity at 10:00 AM reached approximately 5,000 billion VND. Foreign investors supported the market with net purchases of over 300 billion VND.
After 10 AM, the overall market recovered quite well, led by the securities sector stocks. Investors rushed to buy these stocks at the bottom, causing many to surge to their ceiling prices within minutes, such as MBS (up 10%), FTS (up 7%), etc., while other stocks like VND, SSI, HCM, etc., also saw significant gains.
This positive sentiment spread to many other sectors, helping the market regain its short-term equilibrium. At 10:50 AM, the HoSE exchange recorded 240 gainers, 227 losers, and 40 unchanged stocks. Trading volume reached over 8,000 billion VND. Foreign investors made net purchases of over 400 billion VND.
Some securities companies have reported that many investors have borrowed money from securities companies or brokers. Therefore, when many stocks fall sharply, leading to forced selling by investors, the supply increases.
According to Mr. Nguyen Cong Trang, Deputy Head of Investment Consulting Department, Thanh Cong Securities Company (TCSC), investors with high margin levels need to quickly add sufficient funds to promising stocks because these stocks may recover in value in the near future; otherwise, lenders will sell them to recover capital.
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