The Vietnamese stock market continued to witness a session on October 31 under great selling pressure. Many pillar stocks, including the Vin group and Gelex group, fell sharply from the beginning to the end of the session after having fallen deeply in the previous sessions.
Selling pressure spread across the stock market and occurred in most codes in the VN30 group, causing the VN30 index to fall nearly 40 points (-2.07%) to 1,885.36 points. The VN-Index fell nearly 30 points (-1.8%) to 1,639.65 points.
The market witnessed a rapid cash flow withdrawal from many blue-chip stocks, while new money sources showed signs of weakness.
At the end of the trading session on October 31, among the 30 pillar codes of the VN30 group, 21 codes decreased in price, 1 code remained unchanged, and 8 codes increased slightly in price.
All three "Vin family" stocks, including Vingroup (VIC), Vinhomes (VHM), and Vincom Retail (VRE), decreased. Vingroup fell 13,100 VND to 191,000 VND/share; Vinhomes fell 4,800 VND to 99,200 VND/share; VRE fell 1,300 VND to 33,300 VND/share.
VietJet (VJC) shares decreased by VND8,500 to VND187,000/share.
Many bank, securities, steel and real estate stocks also weakened.
HDBank (HDB) decreased by 1,400 VND to 32,000 VND/share. LPBank (LPB) decreased by 1,300 VND to 50,700 VND/share. Sacombank (STB) decreased by 1,400 VND to 55,500 VND/share...
With a sharp decline at the end of the week, the stock market closed October with a series of 3 consecutive weeks of correction. The highlight of the week was the gloomy cash flow, showing signs of withdrawal, low liquidity, only around 20-30 trillion VND/session, compared to the peak of up to 50-70 trillion VND. The situation of tug-of-war and strong differentiation will likely continue.
During the week of October 27-31, VN-Index decreased by 43.53 points (-2.6%). Meanwhile, HNX-Index decreased by 1.43 points (-0.54%). A notable point is the decline of many large stocks. Many stocks that previously attracted cash flow such as CEO, DIG, KBC, HDB, VIX... also decreased.
On the contrary, the energy group suddenly attracted cash flow and increased sharply, typically PVD, GAS, PVC, PVB... On October 28, the Government issued a Resolution regulating the handling of difficulties and obstacles in delegating approval authority for some contents in oil and gas activities.
Foreign investors continued to exert pressure in the session of October 31 and throughout the week. During the week, foreign investors net sold 2.4 trillion VND. In contrast, the self-employed sector net bought for 2 consecutive sessions.
According to CSI, despite the sharp decline, low liquidity shows that there is no selling pressure yet. The strong profit-taking trend after VN-Index approached the psychological level of 1,800 caused VN-Index to fall (-1.33%) in October, forming a correction trend with 2 consecutive months of decline.
Many investors are now tending to limit their trading as stocks continue to fall in price. Many are holding on to losses and waiting for the market to recover.
According to CI, on the weekly chart, although liquidity last week decreased sharply (matching volume decreased -30.3% compared to the 20-week average), the decrease amplitude of VN-Index was quite large (-2.59%), showing that selling pressure is still dominant in the short term. Considering the daily, weekly, and monthly charts, the adjustment trend of VN-Index is reflected, so the risk level for buying positions is quite high. CSI expects VN-Index to have a correction to the support zone around 1,560 points in the next month, at which time selling pressure may stop.
Source: https://vietnamnet.vn/san-200-ty-usd-bi-bao-mon-moi-ngay-nha-dau-tu-nan-long-2458302.html
Comment (0)