The expansion of the green color has spread to many stocks of various industries, contributing to the VN-Index increasing by 22.21 points (+1.87%), reaching 1,210.28 points. The total trading volume reached over 688.8 million units, with a value of 16,355.9 billion VND, decreasing by 33% in volume and 31% in value compared to the previous session. The block trading contributed over 76 million units, with a value of 25,120 billion VND. Large-cap stocks, excluding VIC and TCB, stood at reference prices, while the remaining stocks closed in green.
The HNX-Index and UpCoM-Index also returned to a slight increase. The total trading value was approximately 18,281 billion VND, with capital flowing into the financial and real estate sectors, as well as the essential and non-essential consumer goods sectors.
The number of stocks with significant price increases dominated, with 588 stocks in green, 29 stocks at the lower limit, and only 190 stocks in red, along with 17 stocks at the upper limit. Among the stocks with significant price increases, TCH, BSI, LDG, HNG, and L14 stood out. In the large number of stocks with price increases, VNM and GVR were notable, contributing over 1.7 and over 1.2 points to the VN-Index, respectively.
Foreign investors sold a net value of approximately 810 billion VND, with a sudden increase in selling at the end of the day, driven by the sale of nearly 358 billion VND worth of VJC shares. Notably, VJC also saw a block trading transaction of 348 billion VND during the session, significantly higher than the matched order value of approximately 42 billion VND. It is likely that foreign investors sold VJC in large quantities through block trading.
However, the trading volume remained at a moderate level, and the explosive growth did not occur, causing the index to only reach the upper limit when closing with low trading volume. It is likely that this was a technical rebound rather than a reliable indicator of a sustainable recovery.
A recent update from CTCK Mirae Asset (Vietnam) shows that the risk of a decline still exists due to pressure from the international market. Mirae Asset mentioned the "avalanche effect" after observing the first three trading days of August, when the Vietnamese market faced a series of negative impacts from the global market, causing a "red tide" to spread to nearly all major markets worldwide.
Mirae Asset believes that the trading behavior in the first few days of August reflects investors' risk aversion, particularly among individual investors in Vietnam. However, the risk of a decline still exists, as the downward pressure on major stock markets will negatively impact the trading behavior in the Vietnamese market.
In the most pessimistic scenario, the market is expected to find support at the low valuation regions of the VN-Index, specifically the 1,050-1,150 point range. The analysis group expects this support region to be based on the improved macroeconomic situation in Vietnam during the first seven months of the year and the trend of recovering corporate profits in the first half of the year.
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