Liquidity disappears, market continues to adjust down

SGGPO 08/23/2023 17:47

After the spectacular recovery session yesterday, today, August 23, the market continued to witness investors selling off, in which foreign investors continued to net sell nearly 557 billion VND on the HOSE floor.

Stocks are red again

The Vietnamese stock market opened the trading session on August 23 up nearly 12 points, in which the major contributor to the strong increase in the index was VIC shares hitting the ceiling right from the beginning of the session due to the positive performance of VFS shares on the Nasdaq. However, after that, VIC as well as the stocks that increased in price at the beginning of the session quickly turned down because there was no demand to support the market price. The VN-Index at one point turned down by nearly 10 points but then recovered slightly.

Investors' risk aversion is still strong, causing market liquidity to decrease sharply because investors are not willing to spend money to buy stocks, while selling pressure is still strong, causing most industry groups to lose points.

The group of securities stocks also decreased after the strong increase the previous day, in which SSI decreased by 0.98%, VND decreased by 2.14%, VCI decreased by 1.18%, HCM decreased by 1.2%, VIX decreased by 1.76%, FTS decreased by 1.6%, BSI decreased by 1.78%, CTS decreased by 1.4%, VDS decreased by 1.25%, AGR decreased by 1.32%.

Most banking stocks decreased, with many large-cap stocks falling sharply, such as: VCB down 2.38%, STB down 3.89%, VPB down 1.7%, MBB down 1.1%...

The real estate group continued to differentiate. Of which, VHM decreased by 1.8%, BCM decreased by 1.17%, VRE decreased by 1.88%, NLG decreased by 2.11%, HDG decreased by 1.02%, DXG decreased by 1.05%, CII decreased by 2.21%... On the contrary, NVL increased by 1.08%, VCG increased by 1.73%, PDR increased by 1.45%, VPI increased by 1.34%, HBC increased by 2.32% and VIC closed the session with an increase of less than 1%.

At the end of the trading session, VN-Index decreased by 7.93 points (0.67%) to 1,172.56 points with 281 stocks decreasing, 176 stocks increasing and 71 stocks remaining unchanged.

At the end of the session at Hanoi Stock Exchange, HNX-Index also decreased by 1.58 points (0.66%) to 238.07 points with 97 stocks decreasing, 78 stocks increasing and 65 stocks remaining unchanged.

Liquidity decreased sharply, total transaction value in the whole market was only about 19,200 billion VND.

Foreign investors continued to net sell nearly 557 billion VND on the HOSE. Many stocks that were sold by foreign investors also dropped sharply such as STB, HPG, VHM...

Source: https://www.sggp.org.vn/thanh-khoan-mat-hut-thi-truong-tiep-tuc-dieu-chinh-giam-post702743.html