A series of pillar stocks hit the floor, VN-Index plummeted

All VN30 stocks fell sharply

All the pillar stocks of the VN30 group fell sharply. 13 bank stocks of the VN30 group all fell quite deeply. Vietcombank (VCB) fell 600 VND, down to 85,200 VND/share. BIDV fell 800 VND, down to 39,950 VND/share.

SSI stock hit the floor to 28,600 VND/share. Masan (MSN) was near the floor at times, down to 61,400 VND/share.

Vinamilk (VNM) decreased by 2,300 VND, down to 66,700 VND/share.

Shares of real estate giant Vinhomes (VHM) were sold heavily with a floor sell order of more than 28 million units in just the first 30 minutes of trading on October 26. The price dropped to VND41,800/share, the lowest since February and much lower than the level of nearly VND90,000/share recorded in July 2021.

Vinhomes shares recorded a strong selling volume from foreign investors, with sales reaching 3.9 million units in the first half hour.

This is a completely opposite development compared to a few sessions ago when foreign investors bought very strongly, betting about 1,800 billion VND to buy tens of millions of Vinhomes shares in the two sessions of October 20 and 23.

The surge in selling pressure on Vinhomes shares has caused Vingroup (VIC), Vinhomes' parent company, to also hit the floor at VND41,600/share. This is the lowest level in the past 6 years.

Billionaire Pham Nhat Vuong's Vincom Retail (VRE) shares also hit the floor by VND1,850 to VND24,600/share.

Billionaire Vuong's trio of stocks fell sharply despite all of them having just announced impressive business results, record revenue and billion-dollar profits. Vinhomes recorded a profit of VND32,400 billion in the first 9 months, up 68% year-on-year and exceeding the annual plan.

*Vinhomes, Vingroup, Vincom Retail stocks hit the floor, VN-Index dropped 50 points.*

Many other stocks in the construction and real estate group also plummeted, such as Novaland (NVL), Dat Xanh (DXG), Phat Dat (PDR), CEO, KBC, VCG...

Novaland decreased by 859 VND, to 12,900 VND/share. PDR code decreased by 1,700 VND, to 22,600 VND/share.

The VN-Index dropped nearly 50 points to 1,052 points at 9:50 a.m. At the end of this morning's session, the VN-Index lost 44.62 points (-4.05%), stopping at 1,057.04 points.

Liquidity increases rapidly

The market fell sharply but liquidity increased quite quickly, reaching 8,500 billion VND in just the first 50 minutes of the day, almost equal to the liquidity in the entire previous gloomy session.

Codes with large liquidity include SSI, VIC, VHM, STB, DIG...

Vinhomes's decline is considered quite surprising despite continuing to have high liquidity.

Previously, on October 23, the money flow from "shark" organizations continued to pour in. Foreign investors bet more than 1,000 billion VND on Vinhomes of billionaire Pham Nhat Vuong, through a series of huge deals right at the beginning of the afternoon session on October 23. Foreign investors bought 26.1 million VHM shares at the price of 43,600 VND/share.

Vinhomes has also just announced that it has been approved as the investor of a 200-hectare project with a total investment of VND28,000 billion in Long An.

The group of real estate stocks has not performed positively recently due to the gloomy real estate market, and the situation of delay and extension of bonds is still common in the first 9 months of the year.

Foreign investors unexpectedly bet on billionaire Pham Nhat Vuong's business Foreign investors unexpectedly bet on billionaire Pham Nhat Vuong's business. VN-Index breaks out after a previous plunge.

Source