The Vietnamese stock market experienced an emotional trading session with a sudden "plunge" at 2 p.m. The VN-Index at one point soared to 1,584.6 points, but then quickly fell more than 60 points in just 26 minutes. However, the index still maintained its green color at the end of the session thanks to support from the large-cap group.
VN-Index closed up 18.96 points to 1,547.15 points, with liquidity reaching over 78,100 billion VND, breaking the record set in the session on July 29. UPCOM-Index increased slightly by 0.34 points to 107.50 points. Meanwhile, HNX-Index closed in red, down 2.22 points to 266.12 points.
In total, 3.22 billion shares were transferred on the three exchanges. The trading volume reached VND85,756.82 billion, equivalent to nearly USD3.25 billion. In today's record liquidity session, foreign exchange transactions were active, and at the same time, large-scale domestic demand appeared. Foreign investors have strongly restructured their investment portfolios. After a record net selling session of more than VND10,100 billion yesterday (August 4), foreign investors continued to net sell nearly VND1,980 billion more in today's session, thereby extending the net selling streak to 4 consecutive sessions.
Of which, Vingroup (VIC) shares were sold the most with a value of up to VND2,668 billion, although this stock increased sharply by 5.67% to VND117,500/share. Meanwhile, foreign investors spent more than VND1,083 billion to net buy Hoa Phat (HPG) shares, helping this stock code establish a new price peak. Foreign investors sold large-scale net in many other stocks such asSHB (-VND231.8 billion), VPB (-VND199.7 billion), VHM (-VND152 billion) or FPT, VIX, VNM. On the buying side, in addition to HPG, stocks with net disbursement of over VND100 billion also included SHS (VND283 billion) or MSN, BID and MWG, all of which were net bought for about VND140 billion.
Hoa Phat shares not only led in demand from foreign investors, but also ranked first in liquidity (5,723 billion VND). Dozens of stocks reached a liquidity level of thousands of billions in a record trading session. The financial group also attracted thousands of billions of VND in transactions, such as shares of Techcombank - TCB (about 3,420 billion VND), SHB (3,330 billion VND) or SSI (3,180 billion VND)...
Market liquidity reached a record high, with cash flow focusing on large-cap stocks and banking, securities, and steel groups. The stocks that had the most positive impact on the VN-Index were VIC, VHM, MBB, TCB, and HPG. Vingroup shares alone contributed 5.96 points to the overall index. Meanwhile, Becamex (BCM) shares pulled the VN-Index back the most but only contributed 0.5 points to the decrease.
Although the group of 10 stocks with the most positive impact on the market contributed 22 points to the increase of VN-Index, the index only increased by nearly 19 points at the end of the session. Red dominated and selling pressure was strong in the group of small and medium-cap stocks. Specifically, the number of stocks that decreased was dominant with 468 stocks decreasing, 15 stocks hitting the floor, while 339 stocks increased in price and 17 stocks hit the ceiling.
Sharing at the recent program "Vietnam and the Indexes", Mr. Tran Hoang Son, Director of Market Strategy at VPBank Securities Joint Stock Company (VPBankS) assessed that this increase of VN-Index is similar to the period of 2021-2022, since the second bottom after Covid. However, interspersed between the increases, the market faces a 10-16% correction from peak to technical bottom.
"The VN-Index has just increased by 46%, so the current correction of 7-10% is completely normal. This is just a normal technical correction and has not yet established a medium- or long-term peak. After this correction, the VN-Index may enter a new uptrend and may surpass unprecedented resistance zones. The technical bottom may be around 1,430 - 1,450 points," said a VPBankS expert. At the same time, according to Mr. Duong, the fact that market liquidity reached 3 billion USD shows that the cash flow participating in the short-term market is very abundant.
Source: https://baodautu.vn/vn-index-dua-tau-luon-va-dong-tien-ky-luc-322-ty-usd-d350145.html
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