The index representing the Ho Chi Minh City stock exchange continuously reversed direction, fluctuating between gains and losses, with a range of no more than 5 points compared to the reference level. Towards the end of the session, the fluctuation range widened due to strong selling pressure.
The index closed near 1,671 points, down nearly 10 points from the reference point. This was the second consecutive correction session amid a lack of supporting market information, coupled with investor caution as the US Federal Reserve's interest rate adjustment meeting and official information on FTSE's market upgrade review approach approach.
The Ho Chi Minh City stock exchange was dominated by red today, with over 200 stocks declining, nearly double the number of stocks that rose. The large-cap basket followed a similar pattern, with 19 stocks closing below the reference price, while only 10 stocks increased.
The banking sector faced strong selling pressure, with a series of leading stocks experiencing sharp declines. BID lost 2.5%, while VPB, CTG,VIB , MBB, and TCB corrected by 1.7-2.2%. LPB and STB were among the rare representatives of this group that bucked the market trend, albeit with relatively modest gains.
In the securities sector, red dominated all constituent stocks. VIX led the decline with a drop of nearly 4%, followed by VND, which lost 2.9%. SSI briefly traded in the green before reversing and falling by more than 2.4%.
The fertilizer sector also experienced heavy selling pressure. DPM and DCM, the two leading stocks in the group, lost 2.2% and 0.9% respectively.
Meanwhile, the real estate sector showed strong divergence. Some midcap stocks like NVL, NLG, and KDH fell by 1.3-2.5%, while small-cap stocks like HQC, QCG, LDG, and SCR surged. Vingroup -related stocks also experienced a bullish sentiment, significantly contributing to the VN-Index avoiding a deep correction.
Compared to yesterday's session, the market no longer shows many positive signs. Liquidity decreased sharply by about 9,000 billion VND, down to 32,500 billion VND. HPG led in trading value with over 3,685 billion VND, more than the next two stocks, FPT (2,125 billion VND) and SSI (1,553 billion VND), combined.
After a period of accumulation, foreign investors returned to selling heavily. This group disbursed nearly 3,100 billion VND while withdrawing over 3,220 billion VND. VPB was the focus of foreign outflows with approximately 3 million shares, followed by SSI, DXG, and VND.
According to some securities firms, the VN-Index declined, but the short-term market trend is not yet overly negative. A consolidation phase may occur before the Fed announces interest rates, coupled with the restructuring of two ETFs later this week. This phase will only end and establish a new trend if the index surpasses the 1,690-point resistance level or breaks through the 1,650-point mark.
PV (compiled)Source: https://baohaiphong.vn/chung-khoan-giam-manh-521038.html
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