Investors sell off, real estate stocks hit the floor

Investors sell off

The stock market on September 11 started quite optimistically with green soon spreading across the electronic trading board. The VN-Index increased quite strongly and headed towards the important milestone of 1,250 points. The optimistic signal remained throughout the morning trading session. However, positive signs soon appeared when the VN-Index gradually weakened until lunchtime.

In the morning trading session of the September 11 stock market session, VN-Index maintained its green color. However, right from the beginning of the afternoon trading session, selling pressure suddenly increased sharply and became a sell-off pressure.

Closing the stock market session on September 11, VN-Index stopped at the lowest level of the session when it only reached 1,223.63 points, down 17.85 points, equivalent to 1.44%; VN30-Index decreased 18.43 points, equivalent to 1.48% to 1,230.71 points. Selling pressure came from all blue-chip, mid-cap and penny stocks.

stock 11 9 investors sell shares real estate stock price decrease image 1 — In the September 11 stock market session, selling pressure appeared before closing time, causing real estate stocks to race to the floor. Illustrative photo

Along with the shocking decrease, the September 11 stock market session also recorded another focus, which was liquidity. Nearly 1.4 billion shares, equivalent to VND32,134 billion, were successfully traded, a sharp increase compared to the liquidity of recent sessions. Of which, the VN30 group recorded 357 million shares, equivalent to VND11,621 billion, being traded.

The VN30 group recorded 3 stocks increasing in price, 1 stock remaining unchanged and 26 stocks decreasing in price. The 3 rare stocks that closed the September 11 stock market session in the green were PLX, SAB and VPB. Of which, SAB increased very strongly, up 6,900 VND/share, equivalent to 4.3% to 167,500 VND/share.

On the other hand, GVR is the blue-chip with the fastest "falling" speed when it decreased by 950 VND/share, equivalent to 4.2% to 21,750 VND/share. Following behind is SHB (decreased by 400 VND/share, equivalent to 3.1% to 12,300 VND/share), VRE (decreased by 900 VND/share, equivalent to 3% to 28,700 VND/share),...

Real estate stocks race to hit the floor

In the September 11 stock market session, investors' sell-off put pressure on all sectors. However, the real estate sector saw the most stocks hit the floor.

At the close of the stock market session on September 11, DXS decreased by VND800/share to VND11,150/share, HPG decreased by VND510/share to VND6,800/share, HTN decreased by VND1,500/share to VND20,150/share, NVL decreased by VND1,500/share to VND20,500/share.

The interest rate level continuously falling to low levels is considered a move to support the real estate market, thereby helping real estate stocks to break out. However, this market still faces great pressure. That is the maturing bonds.

Hanoi Stock Exchange said that the last 4 months of 2023 are identified as the peak period for bond maturity with a total value of up to 65,500 billion VND, of which nearly 80% belong to the real estate industry group.

Asian stocks mixed

Asia- Pacific markets are set to trade mixed at the start of the week as key economic data from major economies takes centre stage.

On Tuesday, India will release inflation and industrial output figures for August, while China will release industrial output, retail sales and most notably home prices on Friday.

Hong Kong’s Hang Seng Index closed down about 0.38 percent. Hong Kong’s financial markets were closed on Friday due to a “black storm” warning and the market is trying to catch up today.

Mainland Chinese stocks were in positive territory, led by healthcare and consumer cyclical shares, with the CSI 300 up 0.74% to close at 3,767.54.

In Australia, the S&P/ASX 200 index rose 0.50% to end at 7,192.3, snapping a four-day losing streak. Meanwhile, Japan's Nikkei 225 index fell 0.43% to close at 32,467.76 while the Topix index edged up to end at 2,360.48.

South Korea's Kospi rose 0.36% to end the day at 2,556.88, while the Kosdaq fell 0.18% to close at 912.55.

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