Stocks may fall 1,200 points, investors are discouraged

Without the expected recovery, VN-Index fell more than 13 points at the end of the morning session on August 2 to nearly 1,210 points; HNX fell 2.37 points to 226.86 points while Upcom also fell 0.77 points to 92.75 points.

Red covered the market with many groups of stocks in banking, securities, seaports, food, oil and gas, textiles... falling sharply and very sharply, with only a few stocks showing green. Many investors started the trend of "putting down the board and turning off the app", causing liquidity to remain low. The trading value on the HOSE floor in the morning session was just over VND 6,600 billion.

"Blue-chip stocks (large capitalization), stocks in the VN30 basket or stocks with positive reviews, with large business results of enterprises... all fell sharply. An increase of 3 months is not equal to a decrease of half a month, the results from the beginning of the year until now are all lost. Recommendations to buy stocks at good prices in the support zone are also not correct, because many good stocks in the securities, steel, real estate... lines are also falling out of the support zone," said Mr. Thanh Nam, an investor with many years of experience in the market.

Stocks continue to sink in red. Photo: Hoang Trieu

Talking to a reporter from Nguoi Lao Dong Newspaper at noon on August 2 about the current developments of the VN-Index, Mr. Phan Dung Khanh, Investment Consulting Director, Maybank Securities Company, said that liquidity (cash flow) is one of the factors causing the market to move negatively at the moment. The cash flow from foreign investors has been net selling for many years and the cash flow from domestic individual investors has also "disappeared" at this time. The consecutive monthly decline in cash flow shows that the market is forecast to be negative, especially after failing to surpass the 1,300 point mark in early July.

"Foreign investors have not stopped their net selling as foreign investors' cash flows have shifted to markets with more attractive returns such as the US and Europe. The US Federal Reserve (FED) is expected to cut interest rates next September, but information from the most recent meeting showed that the agency expressed "uncertainty", making investors worried about the timing of the first interest rate cut.

The international stock market sell-off and sharp decline further affected the VN-Index. Domestic investment channels are also more attractive, such as deposits, gold, etc. The cash flow into stocks is gradually weakening, so the short-term development is not too bright," Mr. Khanh analyzed.

Will VN-Index break through the 1,200-point mark? According to expert Phan Dung Khanh, the sharp price decline but low liquidity shows weak bottom-fishing demand, which is a negative development. Currently, the 1,180 - 1,200 point area is the market's mid-term support zone, so it is necessary to observe developments during the session and in the coming days.

Mr. Vo Kim Phung, Head of Analysis at BETA Securities Company, also said that today is the last trading session of the week, so the market is likely to experience strong fluctuations. In this context, investors should carefully restructure their investment portfolios and consider averaging prices.

"It is necessary to carefully consider the stocks you are holding, sell those with high risks or no potential, and invest more in stocks with better prospects. Market corrections can create buying opportunities for adventurous investors," said Mr. Phung.

Source: https://nld.com.vn/chung-khoan-co-the-thung-1200-diem-nha-dau-tu-chan-nan-196240802125550039.htm