Shares of GEX and Vingroup companies fell simultaneously, causing the stock market to lose nearly 30 points.

GEX shares continued to fall to the floor price after a series of sharp increases. Along with that, Vingroup's group of stocks (VIC, VHM, VRE) plummeted sharply, putting significant pressure on the VN-Index on October 31st.

The stock market has yet to escape its correction trend, with many investors holding onto losses and their accounts deeply in the red - Photo: QUANG DINH

The Vietnamese stock market closed the last trading session of October with red dominating the trading board.

The VN-Index plummeted nearly 30 points, falling to 1,639.65 points, with 190 declining stocks overwhelmingly outnumbering the 127 rising stocks. The HNX-Index also lost 0.42%, while only the UpCOM-Index saw a slight gain today.

The focus of today's market session continued to be on the GEX ecosystem stocks, with GEX hitting its lower limit and VIX losing another 4.44% of its market value. Notably, in the previous session, both of these stocks also fell to their lower limit, indicating that selling pressure shows no signs of easing.

Specifically for GEX, the stock has hit the lower limit in 3 out of the last 5 trading sessions, causing its market value to "evaporate" by about 15% in just one week and lose as much as 21% after a month of trading.

The VIX also recorded a similar trend, plummeting more than 23% in the past month, reflecting a sharp correction trend among stocks in the same ecosystem after a period of rapid growth.

Pressure intensified as Vingroup 's group of stocks also plummeted simultaneously, with VIC falling 6.42%, VHM losing 4.62%, and VRE declining 3.76%. These three stocks became the main factors dragging the VN-Index down.

Furthermore, the negative performance of the Vingroup trio caused the real estate sector to become the biggest loser in the market, losing 4.33% of its market capitalization in the session.

A series of other stocks in the group also extended the correction trend, with many stocks falling sharply and approaching the floor price, such as CEO (-6.96%), DXG (-4.48%), DIC (-3.06%), PDR (-3.63%), showing that pessimism prevailed throughout this entire sector.

Market liquidity remained low, reaching only about 30,000 billion VND across all three exchanges, reflecting the cautious sentiment of investors as both active buying and selling weakened.

Although 13 out of 19 second-tier industry groups recorded slight increases, key sectors driving capital flows such as real estate, banking, securities, steel, information technology, and retail traded less actively, mostly fluctuating around the reference price with limited liquidity.

Conversely, the oil and gas and utilities sector stood out as the focal point supporting the market, with GAS and POW stocks surging and a clear improvement in active buying pressure.

In addition, textiles, chemicals, telecommunications (VGI), construction, and livestock-aquaculture (VHC, HAG) also recorded positive developments, with many of these stocks experiencing strong net buying by foreign investors.

Foreign investors slowed their net selling on the stock market.

On the foreign investor side, net selling activity tended to decrease slightly compared to previous sessions (-521 billion VND), with foreign investors increasing net selling in the real estate and banking sectors, but reversing to net buying in the securities sector (VIX, HCM, VCI, TCX, VND) along with food, rubber, information technology, textiles and utilities.

Overall, the morning session on October 31st witnessed a tug-of-war between downward pressure from large-cap stocks and positive capital flows in defensive sectors, leaving the short-term market trend still leaning towards caution, awaiting clearer support signals in the coming sessions.

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BINH KHANH

Source: https://tuoitre.vn/co-phieu-nhom-gex-vingroup-dong-loat-do-chung-khoan-mat-gan-30-diem-20251031152409767.htm