The VN-Index experienced a massive sell-off, falling by more than 14 points to 1,231 points, its lowest level in the past three months.
The Vietnamese stock market experienced relatively sluggish performance for most of the trading session on November 14th. From the opening until the beginning of the afternoon session, the VN-Index mostly fluctuated below the reference level, with a decline of approximately 5 points.
By 2 PM, supply unexpectedly surged and completely took control of the market. As a result, the VN-Index plummeted uncontrollably and breached the strong support level of 1,240 points.
The sudden drop in the index quickly triggered a wave of sell-offs. The lack of supporting capital inflows also increased the extent of the damage to the VN-Index and led to a deeper correction.
At the close of trading, the VN-Index fell 14.15 points (-1.14%) to 1,231.89 points; the HNX-Index fell 2.4 points (-1.06%) to 223.82 points; and the UPCoM-Index fell 0.48 points (-0.52%) to 91.87 points.
Liquidity improved to over 18,300 billion VND, but this was mainly due to proactive selling pressure.
The market was dominated by red, with 480 stocks declining (including 14 that hit the floor price), 872 stocks remaining unchanged, and 259 stocks rising (including 19 that hit the ceiling price).
The VN30 basket of large-cap stocks also saw 23 stocks decline, 2 remain unchanged, and only 5 increase. As a result, the index representing the basket fell by more than 17 points to 1,286 points.
The significant corrections in a series of blue-chip stocks such as HPG (-2.8%), CTG (-2.2%), BID (-1.4%), GVR (-2.3%), VCB (-0.5%),VPB (-1.8%), FPT (-1.3%), TCB (-1.5%), MSN (-2.2%), and MBB (-1.5%) were one of the reasons for the sharp decline in the index.
Meanwhile, support from BCM (+1%), HVN (+1%), HAG (+4%), LGC (+3.3%), VIC (+0.3%), GMD (+1.2%), HAH (+4.1%), VSC (+4.4%), VHM (+0.1%), or SSB (+0.3%) did not create much positive impact.
Amidst the downturn in various sectors, only a few stocks bucked the market trend. Specifically, the transportation and port sector, besides the aforementioned stocks, saw some gainers such as GMD (+1.2%), VTP (+0.5%), VTO (+0.7%), SGP (+2%), and DXP (+1.7%).
The apparel group also saw gains in TCM (+0.8%), VGT (+0.7%), MSH (+1%), and GIL (+4.5%).
Today, the market witnessed over 760 billion VND of foreign capital leaving the market. Among them, FPT (-200 billion VND), VPB (-100 billion VND), and MSB (-83 billion VND) led in net selling value.
Conversely, MCH received an additional 207 billion VND in foreign investment, HAH (+30 billion VND), and VRE (+25 billion VND).
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