Contrary to global trends, the VN-Index plummeted dramatically.

The stock market opened on April 14th with significant fluctuations. Sellers remained dominant, but demand was relatively strong, so the VN-Index only fell slightly. However, as the trading session progressed, selling pressure increased, causing the VN-Index to drop sharply by the end of the week.

At the close of trading on April 14, the VN-Index fell 11.41 points, or 1.07%, to 1,052.89 points. The VN30-Index fell 11.24 points, or 1.05%, to 1,063.43 points.

Selling pressure spread across the stock market on April 14th, from small-cap to large-cap stocks. Only 93 stocks rose, 44 remained unchanged, and 303 fell. Within the VN30 index, only 3 stocks rose, 3 remained unchanged, and 24 fell.

Stock market 14 4 moves in the opposite direction to the world, VN index falls sharply (Figure 1) — Despite strong gains in Asian and European stocks following new US economic data, the VN-Index plummeted with high trading volume. (Illustrative image)

The three rare blue-chip stocks that rose in the April 14th trading session were HPG, VCB, and VRE. These three represent the steel, banking, and real estate sectors, respectively. HPG increased by 200 VND/share, equivalent to 1%, to 20,650 VND/share. VCB increased by 200 VND/share, equivalent to 0.2%, to 88,400 VND/share. VRE increased by 200 VND/share, equivalent to 0.7%, to 28,600 VND/share.

Bank and real estate stocks continued to lead the market downwards, with many experiencing sharp declines. PDR fell by 600 VND/share, or 4.3%, to 13,400 VND/share. TCB dropped by 1,300 VND/share, or 4.3%, to 28,900 VND/share. STB declined by 750 VND/share, or 2.8%, to 25,700 VND/share, and so on.

The VN-Index's decline amidst increased liquidity is a negative sign. The April 14th trading session saw a total of 787 million shares, equivalent to VND 13,326 billion, successfully traded. The VN30 group alone accounted for 187 million shares, equivalent to VND 4,365 billion, in transactions.

On April 14th, the stock market saw only three rare stocks successfully weather the storm, hitting their upper limit: TIX, HRC, and ABR. ABR rose 610 VND/share to 9,460 VND/share. HRC increased 3,400 VND/share to 53,100 VND/share. TIX gained 2,250 VND/share to 35,000 VND/share.

On the Hanoi Stock Exchange, the indices experienced a sharper decline. At the close of trading on April 14th, the HNX-Index fell 2.59 points, or 1.23%, to 207.25 points. The HNX30-Index dropped 9.56 points, or 2.52%, to 370.01 points.

Liquidity on the Hanoi Stock Exchange also remained high. 112 million shares, equivalent to 1,586 billion VND, were successfully traded.

Eurasian stocks rose to the floor.

In the April 14th stock market session, the VN-Index moved in the opposite direction to global markets. While the VN-Index fell sharply, the main stock indices of Asia and Europe rose quite strongly.

Asia-Pacific markets mostly rose on Friday, following moves on Wall Street as the US producer price index signaled further signs of cooling inflation.

Japan's Nikkei 225 led gains in the region, rising 1.2% to end the day at 28,493.47, while the Topix gained 0.54% to close at 2,018.72. In Australia, the S&P/ASX 200 rose 0.51% to 7,361.6.

South Korea's Kospi closed up 0.38% at 2,571.49 and the Kosdaq rose 1.07% to 903.84 as North Korea issued a statement regarding its latest missile launch into the waters between South Korea and Japan.

The Hang Seng index in Hong Kong rose 0.27%. In mainland China, the Shanghai Composite gained 0.6%, closing at 3,338.15, and the Shenzhen Component rose 0.51% to 11,800.09.

Overnight in the US, all three major indices rose, with the S&P 500 gaining 1.33%, its highest closing level since February. The Nasdaq Composite rose 1.99% and the Dow Jones Industrial Average gained 1.14%.

European markets were higher on Friday as traders continued to absorb US data. Cooling inflation fueled expectations that the Federal Reserve (FED) would pause its current interest rate hike cycle.

The pan-European Stoxx 600 index rose 0.4% in morning trading, with most sectors trading in positive territory. Healthcare stocks led the modest gains, rising 1%, while insurance stocks fell 0.9%, resulting in losses.

European stock markets closed higher on Thursday in their fourth consecutive gain following the extended Easter holiday.

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