Stock market fell sharply in the last week of October

Vn-Index fell sharply in the last session of October. Screenshot

The market started the new week on a negative note. Green appeared in the first few minutes of the session thanks to positive news from the US-China trade tensions showing signs of cooling down. After that, selling pressure quickly increased, causing the index to sink into the red.

In the next session, strong buying pressure entered the market, helping the market recover significantly, even maintaining a slight increase in the following session. However, the last trading session of the day, the fund portfolio restructuring "swept away" all previous achievements, when many large-cap stocks simultaneously suffered strong correction pressure, pushing the VN-Index down nearly 30 points.

With 2 increasing sessions and 3 decreasing sessions, at the end of the week from October 27 to October 31, VN-Index closed at 1,639.65 points, down 43.53 points (-2.59%).

Although the market fell sharply during the week, the opening was tilted towards green when 14 out of 21 industry groups closed with gains. Leading the way was the telecommunications technology group; followed by the textile and garment group, industrial park real estate. On the other hand, real estate, securities and retail were the three industry groups that suffered the strongest correction pressure this week.

The average liquidity on the Ho Chi Minh City Stock Exchange reached about VND27,000 billion/session, down more than 27% compared to last week, reflecting the cautious sentiment of investors. Foreign investors showed signs of slightly reducing their net selling momentum during the week, with only about VND2,700 billion remaining.

In October, profit-taking increased sharply after VN-Index approached the psychological level of 1,800, causing the general index to drop a total of 1.33%.

Experts from Vietnam Construction Securities Joint Stock Company expect that VN-Index will have a correction to the support zone around 1,560 points in November before selling pressure stops.

At present, investors need to be cautious, hold a moderate proportion of stocks (50% - 60%) and patiently wait for VN-Index to test the above support zone before starting to return to a new buying position.

Experts from Asean Securities Joint Stock Company believe that the market will continue to fluctuate next week with the near support levels being 1,600-1,620 points and the near resistance levels being 1,650-1,660 points.

Short-term investors holding stocks can maintain their current positions with representatives that have safe capital values and are moving in a short-term uptrend.

Meanwhile, investors with a large cash balance can disburse part of their investment during the adjustment period of stocks that benefit from loosened macro policies or have short-term support stories (IPO waves, development trends of new fields such as AI, crypto assets, etc.).

For long-term investors, increasing the proportion should only be done when the market experiences a deep decline, prioritizing observing leading stocks and maintaining prospects.

Source: https://hanoimoi.vn/thi-truong-chung-khoan-giam-manh-tuan-cuoi-thang-10-721874.html