Money flooded the exchange again

Money flooded the exchange again

The stock session 7/6 still kept the scenario of selling pressure at the beginning of the session. Shaking around the 1105 point area, VN-Index was under selling pressure from the beginning when the price

Active selling increased in many groups so the general index could not maintain the green color and reversed below reference level.

However, according to VCBS Securities, the stock market on June 7 was still divided and steel stocks were the most prominent when attracting demand, increasing by approximately 6%.

Struggling, shaking in a narrow range was still recorded in the afternoon session with almost equal number of gainers and losers. However, the demand in the last minutes of the session helped the stock market on June 7 regain the green color, maintaining the gaining momentum.

Foreign investors still did not really have a positive view of the market when they turned to be net sellers throughout the session with a liquidity of 277 billion, focusing on selling STB, BSR, and CTG.

Closing the stock session on June 7, VN Index gained 6 points, equivalent to 1,23% to 0,11; HNX Index closed at 1.109,54 points after gaining 230,33 points.

Liquidity continued to be the bright spot of the stock session 7/6. The trading volume once again surpassed the 1 billion mark. There were more than 1 billion shares, equivalent to 18.083 billion VND successfully traded. VN30 group recorded 292 million shares, equivalent to 7.082 billion VND transferred. The strong cash flow caused many real estate stocks to break out, in which, there were two ceiling gainers, NVL and PDR.

VCBS assessed that VN-Index's correction after a series of consecutive gaining sessions is completely understandable, still considered positive and necessary for the market to move to the 1120-1125 area.

"We recommend that investors limit their weight gain on stocks that have increased strongly, but consider taking partial profits and taking advantage of the shaking sessions to buy back in sectors with good demand such as securities, banking, and real estate," VCBS advised investors.

Asian stocks out of excitement

Asia-Pacific markets are trading mixed as the region reviews China's May trade data and Reserve Bank of Australia Governor Philip Lowe's speech, a day after Australia's central bank defied expectations and raised its benchmark interest rate to an 5-year high.

China's trade data fell short of forecasts, customs data showed. Exports fell 7,5% year-on-year, much lower than the expected 0,4% decline, while imports fell slightly more than 4,5% year-on-year, compared with a forecast 8% decline. The country's trade surplus in May was 5 billion USD, down 65,81%.

In Australia, the S&P/ASX 200 fell 0,16%, posting its second consecutive day of loss and ending at 7.118, as Australia's gross domestic product rose 2,3% in the first quarter of the year, the slowest growth rate in a year and a half.

Japan's stock rally appears to have come to a halt with the Nikkei 225 sliding 1,82% to 31.913,74, leading to losses in the region and a four-day winning streak. Topix saw a smaller 1,34% drop and ended at 2.206,3.

South Korea's markets rebounded from the holiday season, with the Kospi rising slightly to hit a roughly one-year high at 2.615,6 and the Kosdaq up 1,2% to close at 880,72.

Hong Kong's Hang Seng Index rose 0,6 percent in the last hour of trading, while mainland China markets were more mixed. The Shanghai Composite edged up slightly to end at 3.197,76 and the Shenzhen Component dropped 0,6% to close at 10.708,82 and posted its third consecutive day of losses.

Overnight in the United States, the S&P 500 and Nasdaq Composite rallied on Tuesday to hit their highest close since 2023 began, as Wall Street digested a recent rally that sent the overall index to a nine-month high. The Dow Jones Industrial Average posted a smaller gain of 9%.

Coinbase fell more than 12% after the Securities and Exchange Commission sued the crypto company.