Stocks break the upward trend

Domestic investors dumped stocks before closing time, causing the VN-Index to suddenly reverse from increasing to decreasing, thereby breaking the 3-session consecutive increase streak.

The index representing the Ho Chi Minh City Stock Exchange closed at a 9-month high yesterday with improved liquidity. However, many securities companies predict that the upward trend will not last long because money will be withdrawn from hot stocks to wait for new disbursement opportunities.

Today's session's developments coincided with this assessment. The index representing the Ho Chi Minh City Stock Exchange maintained green for most of the trading session, at one point increasing by more than 7 points to the price range of 1,130 points. However, profit-taking pressure simmered from the end of the morning session and intensified in the ATC session, causing the index to quickly reverse. The VN-Index closed at 1,117 points, down 5 points from the reference.

The selling side completely dominated in the last minutes, as shown by the number of stocks that decreased by 280, twice as many as the stocks that increased. Red covered many sectors such as real estate, securities, steel, and fertilizer.

A series of large-cap stocks such as HPG, NVL, PDR, STB all reversed from increasing to decreasing by 1-4%. Some small-cap stocks also recorded a sell-off, in which QCG was the most special case when this morning it still increased to the full amplitude but in just a few minutes it turned back to the floor price and there were no buyers, thereby losing the ceiling price streak of 13 consecutive sessions.

Market liquidity reached over VND17,000 billion, down slightly from yesterday. The two pillar stocks of the securities group, VND and SSI, led in terms of order matching value on the Ho Chi Minh City Stock Exchange, with approximately VND735 billion and VND650 billion, respectively.

While individual investors were selling off their stocks, foreign investors continued to spend heavily, buying nearly VND1,700 billion and selling only VND1,100 billion. This group poured the most money into HPG when its stock price fell sharply, followed by SSI, VND and CTG.

Orient

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