Stocks last week: Domestic cash flow "supported the wave" against net selling pressure from foreign investors

The Vietnamese stock market closed the trading week of November 10-14 in positive green, despite strong selling pressure from foreign investors. Significant domestic demand, along with cash flow circulating between major sectors, helped the VN-Index maintain an impressive recovery, increasing by more than 36 points compared to the previous week, thereby strengthening confidence in the short-term trend of the market.

Foreign investors continue to sell, VN-Index still recovers strongly thanks to the real estate - oil and gas - Gelex group leading

Right in the first session of the week, VN-Index suffered a relatively strong "shake" when it lost the support level of 1,600 points. Investor sentiment was significantly affected by the deep decline, pulling the index back below the observation zone. However, bottom-fishing demand appeared in many large-cap stocks and quickly reversed the situation. From mid-week, domestic cash flow rebounded, especially in the real estate, oil and gas and Gelex ecosystem groups, thereby leading the market back to balance.

At the end of the week, VN-Index closed at 1,635 points, up 36.36 points or 2.27%. Total market liquidity reached VND105,413 billion, down nearly 18% compared to the previous week, showing that cash flow tends to be more cautious but still enough to maintain the necessary stability.

One of the biggest highlights of the past week was the prolonged net selling streak of foreign investors. In 5 sessions, foreign investors net sold a total of more than 2,752 - 2,795 billion VND, marking the second consecutive week of strong selling across the board.

During the weekend session of November 14, this was the eighth consecutive session of net selling across the entire market. On this day alone, the total net selling value reached over VND1,218 billion. Many stocks were sold for hundreds of billions of VND in just one session, including: STB nearly VND211 billion, VCI more than VND177 billion, VIC more than VND145 billion and HDB nearly VND107 billion.

Looking at each floor, the level of foreign net withdrawal is quite clear:

- HoSE: net selling 2,333 billion VND

- HNX: net selling 163.36 billion VND

- UPCoM: net selling 299.32 billion VND.

Besides the banking group, many large stocks such as VCI (-460 billion VND), MCH (-295 billion VND), DXG (-257 billion VND) and VRE (-190 billion VND) are also under strong selling pressure.

However, on the other hand, foreign investors still maintained net buying in some stocks with good fundamentals. Most notably, HPG was net bought for more than VND838 billion; followed by VNM (+VND479 billion),FPT (+VND463 billion) and VIC (+VND267 billion). HPG in particular continued to be the "fulcrum" of foreign capital flows, showing sustainable confidence in the prospects of the domestic steel industry.

While foreign investors maintained a net withdrawal status, the self-trading of securities companies had the opposite trend. After a net selling session of VND393 billion on November 13, the demand from self-trading suddenly increased sharply at the end of the week. In the session of November 14 alone, the self-trading sector net bought nearly VND1,162 billion, of which GEE shares were net bought for more than VND990 billion, becoming the most notable focus of the week.

In total, over the past 5 sessions, self-trading recorded net buying of VND 1,085 - 1,181 billion, contributing significantly to supporting the market against foreign selling pressure.

In addition to GEE, many other stocks such as CII and HGP were also bought strongly by self-trading, respectively 331 billion VND and 224 billion VND. On the selling side, the net selling level was quite light compared to the buying volume. MWG was the code that was sold the most but only nearly 37 billion VND.

Cash flow during the week tends to rotate continuously between industry groups. In which: Real estate shows strong improvement with many codes increasing well thanks to expectations of legal progress and demand recovery; Oil and gas benefits from the upward trend of oil prices and positive information from new projects; Gelex ecosystem stands out clearly thanks to the active demand from domestic investors.

The flexible circulation of cash flow helps the market improve the general price level, while creating a foundation for the VN-Index to maintain its upward momentum despite foreign investors' continuous net selling.

According to experts, the fact that domestic money is dominating the market shows that investor confidence is improving. Although foreign investors continue to sell net, this pressure no longer has a strong negative impact like in previous periods.

Real estate, oil and gas groups, along with some large-cap stocks, are expected to remain the focus of capital attraction in the coming weeks. On the other hand, recent market developments also reflect investors’ expectations on the year-end economic outlook, especially consumption momentum and public investment disbursement plans.

The trading week of November 10-14 brought a positive picture and somewhat strengthened investors' confidence after previous strong corrections. The fact that VN-Index increased by more than 36 points in the context of foreign investors net selling nearly VND 2,800 billion showed that the internal strength of the market is still stable. In the short term, the positive trend can be maintained if domestic cash flow continues to play a leading role and leading industry groups maintain their performance.

Source: https://thoibaonganhang.vn/chung-khoan-tuan-qua-dong-tien-noi-do-song-truoc-ap-luc-ban-rong-cua-khoi-ngoai-173633.html