The stock market traded on the first day of the week and at the end of the session, VN-Index decreased 10.14 points (-0.8%) to 1,254.64 points; HNX-Index decreased 2.14 points (-0.89%) to 238.38; UPCoM-Index decreased 1.12 points (-1.16%) to 95.65 points.
On 3 exchanges today, there were 533 codes decreasing, 37 codes falling to the floor, while nearly 250 codes increased. Some rare stock groups that remain green are Banks, Food and Beverages and Rubber. Market liquidity is at a good level with more than 24,000 billion VND traded on 3 exchanges. Foreign investors turned to net buy nearly 300 billion VND.
Many stocks that continued the series of bad trading sessions were HVN and QCG when these two stocks continued to fall to the floor. As of today's session, Vietnam Airlines' HVN had its 7th consecutive decrease, including 4 sessions with floor drops.
Similarly, QCG of Quoc Cuong Gia Lai also had 7 sessions of strong decline, of which 3 sessions fell to the floor. This stock changed very negatively after General Director Nguyen Thi Nhu Loan was arrested .
Quoc Cuong Gia Lai Company recently spoke up, affirming that Ms. Nguyen Thi Nhu Loan's arrest does not change or affect the company's plans, strategies, production, business, and investment activities. The legitimate rights and interests of customers, shareholders, and partners who are transacting and cooperating with the company are still guaranteed.
“The above incident is only related to project 39 - 39B Ben Van Don , District 4, Ho Chi Minh City, which the company received transfer from 2 private companies and completed transfer to partners since 2014 as main information. Quoc Cuong Gia Lai Company has responded to shareholders and media agencies on May 30, 2024," Quoc Cuong Gia Lai's announcement said.
This business also said that the Board of Directors will soon find someone to be in charge of running the company as soon as possible to carry out all activities related to the company, ensuring the normal operation of the National Company. Cuong Gia Lai.
However, in today's session there were still more than 6 million units listed for sale at the floor price, but only less than 60,000 units were matched.
Experts from VNDIRECT Securities Company believe that the 1,250 point area (+/- 10 points) will act as a strong support area. However, the market is lacking motivation and supporting information strong enough to form a short-term uptrend. Cash flow will continue to diverge between industry groups and finding short-term profits is not easy.
Experts also recommend that investors, after successfully structuring their portfolios, consider selecting and disbursing a small proportion in stocks that have good momentum and are not affected by general market movements. belonging to industry groups such as securities and retail. Besides, margin use should also be limited at this time to avoid unexpected potential risks occurring in the short term.
