VN-Index "roller coaster race" and record cash flow of 3.22 billion USD

VN-Index at one point soared to 1,584.6 points, but then quickly fell more than 60 points in just 26 minutes. The index remained green thanks to support from the large-cap group.

The Vietnamese stock market experienced an emotional trading session with a sudden "downhill" at 2 p.m. The VN-Index soared to 1,584.6 points at one point, 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 floors. 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, 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 for 4 consecutive sessions.

Of which, Vingroup (VIC) shares were sold the most with a value of up to 2,668 billion VND, although this stock increased sharply by 5.67% to 117,500 VND/share. Meanwhile, foreign investors spent more than 1,083 billion VND to buy Hoa Phat (HPG) shares, helping this stock code set a new price peak. Foreign investors sold large amounts of net in many other stocks such asSHB (-231.8 billion VND), VPB (-199.7 billion), VHM (-152 billion) or FPT, VIX, VNM. On the buying side, in addition to HPG, stocks with net disbursement of over 100 billion VND also included SHS (283 billion VND) or MSN, BID and MWG, all of which were net bought about 140 billion VND.

Hoa Phat shares not only led the demand from foreign investors, but also ranked first in liquidity (VND 5,723 billion). 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 dong in transactions, such as shares of Techcombank - TCB (about VND 3,420 billion), SHB (VND 3,330 billion) or SSI (VND 3,180 billion)...

Market liquidity reached a record high, with cash flow focusing on large-cap stocks and banking, securities, and steel groups. The stocks with 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 decreasing 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.

"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, 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