Despite the fluctuations at the beginning of the afternoon session, the strong pull towards the end of the session on July 24 helped the VN-Index regain its green color. At the end of the year, the VN-Index increased by 8.71 points to 1,521 points. Liquidity remained high with the value matched on HoSE reaching VND34,064 billion.
Meanwhile, foreign transactions are a minus point when they are net sold for nearly VND343 billion in the whole market. Specifically, on HoSE, foreign investors net sold approximately VND201 billion. After buying, HDB shares were net bought by foreign investors with VND486 billion in today's session. In addition, other stocks such as SSI, VNM and SHB were also net bought from 107 billion to 180 billion VND. At the same time, VIX shares were also "gom" 96 billion VND.
In contrast, HPG was the code that was sold at a sudden increase in today's session with a value of up to 389 billion VND. MSN was also sold at a fairly high price of VND 286 billion, VHM was net sold for VND 107 billion.
Vingroup, if the morning session had decreased by nearly 3%, by the end of the day, VHM shares had only decreased slightly by 0.2%, VIC and VRE even reversed to increase, with VIC +0.9% and VRE +1.9% to 29,800 VND.
Meanwhile, VJC shares and banking codes still play a leading psychological driving force. VJC +4.9% to VND 114,000, HDB +4.2% to VND 27,600, MBB +3.7% to VND 28,400, VIB +3.1% to VND 18,350, SHB +2.7% to VND 15,050.
Looking back at the stock market that has just had two trading weeks in early July, it was extremely positive, when the VN-Index continuously increased, aiming to conquer the historical peak of 1,500 points. Trading liquidity on all three exchanges remained above the billion-dollar threshold, showing the confident sentiment of domestic and foreign investors.
Up to this point, market valuations are generally still at a reasonable level, not falling into a state of being too hot. More importantly, support comes from truly improved profit quality in key industries such as banking, construction, retail and energy. Domestic cash flow is stable, foreign investors are returning to net buying and the second quarter business results revealed many positive signals - these are factors supporting the stock price level.
In particular, margin cash flow contributes greatly to promoting liquidity, helping the trading market to be more vibrant. According to the law of uptrends, when trading value and index increase, margin also increases accordingly.
Margen outstanding at a record high shows that investor sentiment is positive, expecting the market's ability to upgrade, especially when the VN-Index continuously surpasses important resistance levels to set a new historical peak.
According to regulations, the total lending limit must not exceed 2 times the equity. In the overall aspect of the securities industry, this ratio is still at a safe level at the end of the first quarter of 2025, with a total outstanding loan balance of more than VND 281,899 billion compared to the total equity of nearly VND 292,900 billion, equivalent to nearly 52% of outstanding lending space.
However, many opinions say that it is necessary to recognize that margin's rapid increase also has certain potential risks. As the rate of high leverage spreads, the market may become more sensitive to negative information and if there is an adjustment, it may be stronger due to the pressure of issuance.
The Vietnamese stock market is already greatly affected by global fluctuations, so the margin risk is still present if the market adjusts strongly, which could trigger a wave of sell-offs and cause deeper downward pressure, especially in the context of many unstable factors in the global financial market.
