GEX and Vingroup stocks are all 'red', the stock market lost nearly 30 points

GEX shares continued to hit the floor after a series of hot days. Along with that, Vingroup stocks (VIC, VHM, VRE) simultaneously plummeted, putting great pressure on the VN-Index on October 31.

The stock market has not escaped the correction trend, many investors are "bearing losses" with deep negative accounts - Photo: QUANG DINH

The Vietnamese stock market closed the last trading session of October in red.

The VN-Index plunged nearly 30 points, falling back to 1,639.65 points, when 190 stocks that decreased in price completely overwhelmed the 127 stocks that increased. The HNX-Index also lost 0.42%, only the UpCOM-Index was slightly green today.

The market focus in today's session continued to be on stocks belonging to the GEX ecosystem, when GEX hit the floor, while VIX lost another 4.44% in market value. Notably, in the previous session, both of these codes fell to their full range, showing that selling pressure has not shown any signs of cooling down.

As for GEX, this stock has had 3/5 recent sessions hit the floor, causing the market price to "evaporate" about 15% in just one week and lose up to 21% after one month of trading.

VIX also recorded a similar development, plunging more than 23% over the past month, reflecting the strong correction trend of stocks in the same ecosystem after a period of overheating.

The pressure increased when Vingroup stocks also plummeted, with VIC down 6.42%, VHM down 4.62% and VRE down 3.76%. These three became the main factors pulling the VN-Index down.

In addition, the negative performance of the Vingroup trio made the real estate group the focus of the sharpest decline in the market, losing 4.33% of capitalization value during the session.

A series of other codes in the group also extended the correction trend, many stocks fell deeply and approached the floor price such as CEO (-6.96%), DXG (-4.48%), DIC (-3.06%), PDR (-3.63%), showing that pessimism covered the entire industry group.

Market liquidity remains low at only about VND30,000 billion on all three exchanges, reflecting investors' cautious sentiment as active buying and selling power has weakened.

Although 13/19 secondary industry groups recorded a slight increase, the pillar groups leading cash flow such as real estate, banking, securities, steel, information technology and retail traded less actively, mostly fluctuating around the reference with limited liquidity.

On the contrary, the oil and gas and utilities group stood out as the focus supporting the market, with GAS and POW codes increasing strongly along with a clear improvement in active buying power.

In addition, textiles, chemicals, telecommunications (VGI), construction and livestock and aquaculture (VHC, HAG) also recorded positive developments, many of these stocks were strongly net bought by foreign investors.

Foreign investors reduce net selling momentum on the stock market

In terms of foreign trading, net selling activities tended to decrease slightly compared to previous sessions (-521 billion VND), in which foreign investors increased net selling in real estate and banking groups, but reversed net buying in securities groups (VIX, HCM, VCI, TCX, VND) along with food, rubber, information technology, textiles and utilities.

In general, the morning session of October 31 witnessed a tug-of-war between the adjustment pressure from large-cap stocks and positive cash flow in defensive sectors, causing the short-term market trend to remain cautious, waiting for 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