Stocks on fire, VN-Index loses 1,600 point mark

At the end of the trading session on November 7, the VN-Index fell to 1,599.1 points. This is the first time in nearly 3 months that the VN-Index has fallen below 1,600 points. The 2.65% figure also made Vietnam's stock market the market with the sharpest decline in Asia.

Red covered the entire listed floor and most industry groups. VN30 decreased accordingly, in which VIC and VHM alone pulled the VN-Index down more than 13 points; only GAS andFPT remained green.

The real estate group decreased the most with a correction of up to 4%, becoming the most negative factor on the market, mainly due to pressure from a pair of stocks belonging to Vingroup . The banking, securities and insurance groups also decreased by more than 2%.

Notably, the market fell sharply in the context of weak liquidity, with the matched order value on HoSE reaching only VND24,591 billion. This partly reflects the clear cautious sentiment of investors at the present time.

Meanwhile, the HNXIndex decreased by 6.04 points to 260.11 points, while the HNXUpcom increased by 0.53 points to 116.75 points.

Foreign investors continued to net sell more than 1,400 billion VND, extending the net selling streak in the previous two sessions.

At the beginning of this afternoon's trading session, selling pressure continued to increase, pulling the VN-Index down another 25 points and below the 1,620 mark. Many stocks such as CTD, CRV, VHM plunged over 5%. Codes such as STB, BMP, DXG, VSC, CTG, VJC, TCH, VPL, HVN, KBC... also fell sharply with an amplitude of 2 - 5%. Foreign investors maintained a negative trend with a net sale of about 1,360 billion VND.

According to experts, in the context of the third quarter business results announcement season ending, information about market upgrades has "cooled down", investors assess that the market is falling into an "information depression". Many stocks that had increased strongly before are being sold, creating downward pressure on the general market.

This phase requires investors to stay calm, observe and wait for a more appropriate time to disburse. The market is still in a medium-term uptrend, but in the short term, technical adjustments are needed. Investors should limit the use of high leverage and only choose businesses with a solid financial foundation.

Ngoc Vy

Source: https://vtcnews.vn/chung-khoan-ruc-lua-vn-index-mat-moc-1-600-diem-ar985856.html