At the end of the session on August 1, the VN-Index decreased by 7.3 points to 1,495.21 points. Liquidity continues to maintain a high level with a trading value on HoSE reaching about 39,100 billion.
In that context, foreign investors continued to sell strongly, reaching VND2,477 billion in today's session. On HoSE alone, foreign investors net sold approximately VND2,296 billion.
After buying, SHB shares were net bought the most by foreign investors in the whole market for about 153 billion VND in today's session. In addition, other codes such as NVL, MSB, HDB and HAH were also net bought from VND72 billion to VND85 billion.
In contrast, SSI was the most net-sold code in today's session with a value of up to VND 466 billion. CTG bank shares were also sold strongly for up to VND 385 billion. A series of other bluechips stocks such as FPT, HPG and VHM were also sold strongly with a value ranging from 155-287 billion VND per code.
Thus, in the last two sessions, the actions of foreign investors have contributed to the market's resistance when the total net selling value exceeded VND 4,700 billion.
The recent developments of foreign investors are attracting the attention of the market. However, current analysis shows that this capital flow is more of a short-term tactical nature than a manifestation of a sustainable shift trend.
In fact, most of the net buying value is concentrated in large-cap stocks (bluechips), especially stocks that are likely to benefit from upgrading expectations or business results growth factors in the second quarter, instead of the large-scale allocation wave often seen before market upgrading milestones.
A notable indicator is that disbursement activities from large ETF funds - which are considered to represent foreign investors' medium and long-term capital flows - are still modest. Funds such as Fubon FTSE Vietnam ETF or VFMVN Diamond ETF have not shown strong disbursement signals, reflecting caution in adjusting portfolio structure and showing that recent cash flow is likely to come from the group of tactical institutional investors or a part of international speculation.
In addition, the market's differentiation continues to reinforce this view. Foreign capital flows mainly focused on leading stocks, while the mid-cap stocks did not record the corresponding increase. The lack of cash flow spread has caused the market to not form a new, widespread price level - which is an important signal of a sustainable growth cycle.
Dr. Nguyen Duy Phuong, Investment Director of DG Capital, said that in August, the post-season of the second quarter financial reporting season, the market may fall into a state of " information throng", lacking clear momentum to create waves. The valuation and expectations of the market and investors will rely more on the announced business results, as well as the prospects of businesses in the second half of the year.
