Pull to dump, cash flow dries up.

Pull to dump, cash flow dries up.

The stock market on October 30th began with considerable tension. From the opening bell, red quickly covered the electronic trading board. Despite this, buying and selling activity was quite cautious. There were no significant sell-offs or bottom-fishing events. Investors appeared to be in a wait-and-see mode.

Throughout the morning trading session, the VN-Index steadily declined without significant fluctuations. This "stable decline" continued until the beginning of the afternoon session. However, at 2 PM, a sudden surge in buying pressure helped the VN-Index limit its decline. Many optimists envisioned a spectacular recovery into positive territory for the VN-Index.

However, the October 30th stock market session quickly revealed a "pull-to-dump" scenario. This means the VN-Index was pulled to its intraday "peak" but then quickly fell sharply due to a sudden surge in supply.

The stock market session on October 30th witnessed another negative development for the VN-Index. The "pull-up to dump" phenomenon at the end of the session resulted in significant losses for investors. (Illustrative image)

At the close of trading on October 30, the VN-Index fell 18.22 points, or 1.72%, to 1,042.40 points; the VN30-Index fell 19.94 points, or 1.87%, to 1,047.63 points.

In the October 30th stock trading session, only 111 stocks on the Ho Chi Minh City exchange increased in price, 56 remained unchanged, and 393 decreased (49 of which hit the floor price).

One of the highlights of the October 30th stock market session was the extremely low trading volume. Only 533 million shares, equivalent to VND 10.128 trillion, were successfully traded. The VN30 group saw 166 million shares, equivalent to VND 4.603 trillion, change hands.

The October 30th stock market session saw blue-chip stocks play a significant role in "dragging down" the VN-Index. However, four stocks successfully weathered the storm. BCM rose 500 VND/share, or 0.85%, to 59,500 VND/share; MSN increased 200 VND/share, or 0.35%, to 58,000 VND/share; VCB gained 900 VND/share, or 1.06%, to 85,900 VND/share; and VRE gained 200 VND/share, or 0.87%, to 23,100 VND/share.

Meanwhile, the stock market on October 30th witnessed a sharp decline in retail, technology, public investment, and real estate stocks, among others. DGW fell by 3,350 VND/share to 45,200 VND/share; ELC fell by 1,450 VND/share to 19,700 VND/share; FRT fell by 6,400 VND/share to 86,400 VND/share;…

On the Hanoi Stock Exchange, the indices fell even more sharply than the VN-Index and VN30-Index. At the close of trading on October 30th, the HNX-Index dropped 6.7 points, or 3.07%, to 211.34 points; the HNX30-Index fell 26.16 points, or 5.85%, to 420.94 points.

Asian markets are in turmoil.

Asia-Pacific markets began the week in turmoil ahead of key economic data releases from across the region.

Monetary policy decisions from Japan and Malaysia, inflation data from South Korea, and overall domestic growth figures from Taiwan and Hong Kong were the highlights in the region this week.

Japan's Nikkei 225 fell 0.95% to end the day at 30,696.96, as the Bank of Japan began its two-day monetary policy meeting, while the Topix lost 1.04% and closed at 2,231.24.

Conversely, South Korea's Kospi rose 0.34%, closing at 2,310.55, and the smaller-cap Kosdaq closed up 1.15% at 757.12.

In Australia, the S&P/ASX 200 index fell 0.79% to 6,772.90, as the country's September retail sales rose faster than expected.

Hong Kong's Hang Seng index fell 0.08% in the previous hour, while mainland China's CSI 300 index ended the day up 0.6% at 3,583.77.

On Friday in the United States, all three major indices ended the day mixed, with the S&P 500 entering correction territory as Wall Street continued its sell-off amid fears of an economic recession.

The Dow Jones Industrial Average of 30 stocks fell 1.12%, while the S&P 500 declined 0.48%. Meanwhile, the Nasdaq Composite rose 0.38% to 12,643.01, thanks to Amazon beating analysts' expectations for third-quarter revenue and earnings.

Source: https://www.congluan.vn/chung-khoan-30-10-keo-de-xa-dong-tien-can-kiet-post270488.html