While world stocks have mixed up and down sessions and recovered certainly, the Vietnamese market has continuously decreased in points.
In today's trading session (September 9), the VN-Index and HNX-Index both decreased in points along with the trading volume having a significant increase in the morning session, showing that investor sentiment is still quite worried.
There was a time when it seemed that this bottom-fishing demand would create a sense of security for investors, thereby helping the market have a spectacular reversal session. However, very quickly, supply increased again, pushing many stocks back below the reference level, even returning to the floor with a fairly large floor profit.
At the end of the session on 9.4, VN-Index fell 38.49 points (-3.4%), to 1,094.3 points. HNX-Index decreased by 8.46 points (-4.21%), to 192.58 points. The whole market width with red color is somewhat overwhelming with the seller with 415 losers and the buyer has 232 gainers. In VN30 basket with 23 losers and 7 gainers.
Market liquidity increased compared to the previous trading session, with the trading volume matched by the VN-Index reaching more than 1.5 billion shares, equivalent to a value of more than VND 33,000 billion; the HNX-Index reached more than 119.3 million shares, equivalent to a value of more than VND 1,600 billion.
In terms of impact, VCB, CTG, HPG and GAS are the stocks that have the most impact on the VN-Index with more than 13.5 points of decrease. On the other hand, VIC, VHM, SAB and VRE are the stocks that still maintain green and contribute to the general index of more than 4.2 points.
Regarding foreign transactions, this group returned to net buy more than 229 billion VND on the HOSE, focusing on the codes MWG (396.48 billion), FPT (249.32 billion), TCB (146.14 billion VND).
Currently, analysts are still leaning towards the possibility of the market recovering in the coming sessions, with the expectation of a negotiation that will bring positive results for Vietnam on April 9. The US may delay the time of tax application or apply a 46% lower tax rate, helping the market reverse quickly.
Technically, many stocks are currently in the area of over-selling very deeply, showing the possibility of hois. In terms of valuation, the market's projected P/E is below 10 times, equivalent to the bottom of the COVID-19 period or the real estate crisis in 2022. Therefore, the chance of recovery is well-founded.
However, experts also note that if after April 9, there are no agreements and the 46% tax rate remains unchanged, US-China trade tensions will escalate with retaliatory blows. At that time, the risk will increase and the VN-Index may break through the 1,000-point mark.
Investors are advised to act cautiously in the context of very hot and unpredictable tariffs and any scenario can happen. If we call this the time to "catch the bottom", it is not appropriate. Because if investors expect to buy at the right bottom to make a profit a few days later, it is not practical. In addition, the development of the trade war is still unclear, if tensions increase, today's bottom is not necessarily the last bottom.
