VN-Index surpasses 1,700 points, investor accounts still "evaporate"

The first trading session of December ended with a remarkable milestone: VN-Index successfully surpassed the 1,700-point threshold after nearly two months of struggling.

Right from the beginning of the December 1 session, strong cash flow helped the index break out in positive sentiment. At the end of the session, VN-Index increased by 10.68 points, equivalent to 0.63%, closing at 1,701.67 points, the highest level since October. However, behind the optimistic numbers was an uneven picture: the entire market had 178 stocks decreasing, overwhelming 135 stocks increasing and 53 stocks remaining unchanged.

The main driving force came from the large-cap group, especially stocks in the Vingroup ecosystem. VIC contributed the most to the index when it alone pulled the VN-Index up more than 8 points. Two stocks in the same family, VPL and VHM, also actively supported with contributions of 2.67 points and 2.59 points, respectively. Notably, VPL increased to the ceiling, while VHM increased by 2.7%.

Stock groups related to large corporations such as MSN, VNM, FPT,SHB , etc. also had positive developments, contributing to keeping the index green.

- Ảnh 2. — The stock market remains red despite the strong increase in VN-Index and pillar stocks. Photo: Gemini

Although the index increased, liquidity remained sluggish. The entire market matched more than VND21,000 billion - a low level compared to expectations in the context of VN-Index reaching an important milestone. In the VN30 basket alone, the number of codes traded over 10 million shares was not much, mainly concentrated in SHB, SSI, HPG, VPB and VRE; the rest were mostly at low levels, even some codes only had a few hundred thousand units such as BCM, LPB or DGC.

Foreign investors continued to maintain a net selling trend with a total value of nearly 298 billion VND, creating a certain pressure on market sentiment. VHM was the most net sold, more than 227 billion VND; followed by VIC with more than 162 billion VND. This development resonated with the downward trend in mid-cap real estate groups such as NVL, DIG, DXG, causing many investors "holding" this group to fall into a state of loss even though the index was on an upward trend.

On the other hand, foreign capital shifted to net buying of some growth stocks such asFPT , MSN, VNM, VPL and VPB. This shows a clear differentiation in the portfolio restructuring strategies of foreign investors.

The data also shows that more than VND8,664 billion flowed into the group of stocks increasing in price, higher than the VND6,262 billion in the group decreasing. Although red dominated the number of stocks, cash flow still tended to focus on leading stocks with "their own growth story".

According to analysts, the December 1 session marked an important step forward in terms of scores but also left many concerns. The fact that the VN-Index surpassed 1,700 points thanks to the support of the pillar group shows that the current uptrend has not really spread. For many investors, the feeling of "index profit but account loss" continues to repeat, proving a strongly differentiated market and short-term risks still exist.

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