VN-Index moves sluggishly again.

The stock market continues to be sluggish, with weak liquidity, weakening leading stocks, and investors remaining on the sidelines.

The Vietnamese stock market still lacks a clear trend. Photo: Phuong Lam .

The Vietnamese stock market experienced a sluggish trading session on July 2nd, with the VN-Index mostly fluctuating around the reference point within a narrow range. Despite opening in positive territory thanks to the positive sentiment from the previous session, demand quickly weakened as capital flows failed to maintain their momentum, while profit-taking pressure increased on many large-cap stocks.

Notably, sectors that had been leading the market in recent sessions, such as finance and banking, retail, and construction and public investment, all cooled down. The weakness of the banking sector, which accounts for the largest proportion of market capitalization, eroded the upward momentum of the VN-Index, causing the index to reverse direction several times during the session before closing below the reference mark.

Liquidity also showed no signs of improvement as cash flow continued to remain low. The total trading value on all three exchanges today reached only about 18,300 billion VND , almost unchanged compared to the previous session.

At the close of trading, the VN-Index fell 0.86 points (-0.05%) to 1,866.35 points. The HNX-Index dropped 6.43 points (-2.1%) to 306.73 points, while the UPCoM-Index lost 0.91 points (-0.7%) to 128.66 points.

The overall market today remained in a state of equilibrium, but slightly skewed towards selling. Across the market, 314 stocks rose (including 16 that hit the ceiling price), 914 remained unchanged, and 323 declined (including 11 that hit the floor price).

The downward pressure was more evident in the VN30 basket of stocks, with 20 stocks declining, only 5 rising, and 5 remaining unchanged. Consequently, the VN30-Index fell by more than 4 points, retreating to 2,009 points.

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The decline in the VN-Index was mainly driven by the banking sector. A series of leading stocks simultaneously corrected, such as VCB (-1.4%), BID (-1.2%), TCB (-1.3%), LPB (-1.9%), CTG (-0.4%), and STB (-0.8%), thus becoming the biggest drag on the index.

In addition, the VN-Index was also pressured by several other large-cap stocks such as BSR (-2.2%), MCH (-1.4%), VPL (-1.4%), and GAS (-0.9%).

Conversely, the real estate sector and Vingroup stocks continued to support the market, with VIC rising 1.5% and VHM increasing 1.1%.

In addition, cash flow also flowed into a number of securities, manufacturing, and infrastructure stocks, including HCM (+3.2%), CTS (+6%), FTS (+3.7%), along with POW (+2.1%), GMD (+1.4%), VNM (+0.5%), TCX (+0.3%), and SAB (+0.5%), significantly narrowing the decline of the VN-Index during the session.

Foreign investors also lost their positive momentum from the previous session, reversing to net selling of over 400 billion VND across the market. The selling pressure from foreign investors was concentrated on TCE with a net selling value of approximately 81 billion VND , followed by HPG (-73 billion VND ) and MSN ( -55 billion VND ).

On the buying side, VIC continued to be the focus of foreign capital with net buying value exceeding 208 billion VND . In addition, foreign investors also disbursed into VNM (+47 billion VND ) andFPT (+32 billion VND ), but this was not enough to balance the selling volume during the session.

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Source: https://znews.vn/vn-index-lai-di-chuyen-lo-do-post1665472.html