In the first trading session of the week on June 9, sudden selling pressure appeared from Vingroup stocks VIC and VHM. The sharp decline in the stock price of these two stocks was due to a sharp decline in the VN-Index.
According to statistics, these two stocks alone caused the index to decrease by more than 10 points in today's session. On the contrary, VN-Index did not receive any support from pillar stocks. Banking stocks are also dyed red.
At the time of closing, the VN-Index decreased by 19.3 points, equivalent to 1.45% and retreated to nearly 1,310 points. The HoSE floor electricity table recorded 241 stocks, compared to 84 stocks and 41 stocks at reference prices. The width between the increasing/ decreasing codes on the VN30 basket electricity board also expanded significantly with 21 codes decreasing compared to 5 codes increasing.
Despite the sharp decline, bottom-fishing cash flow has not shown any signs of getting involved, causing market liquidity to decline. According to statistics, only 792 million stocks successfully matched the order, equivalent to a trading value of VND 17,820 billion.
Foreign cash flow also appeared to be "stuck" despite a sharp decline in the market. In today's session, foreign investors continued to sell on the HoSE with a net selling value of VND344 billion. According to statistics, the group with the strongest net selling is SHB, HAH... On the contrary, foreign investors buy strongly GEX, HPG, VHM...
According to experts, the stock market continues to maintain a state of high caution when there is no clear supporting information, especially from the Vietnam - US tariff negotiation process, which is still of particular interest to investors. Therefore, VN-Index is unlikely to break out in the near future.
In the negative scenario, investors predict that the VN-Index may be under strong fluctuating pressure and retreat to inspect the support zone around the 1,280-1,300 point range. This is an important technical threshold that needs to be closely monitored to assess the possibility of the market stabilizing again or continuing to adjust more deeply. The possibility of the index falling to this zone will be even more obvious if selling pressure increases in large-cap stocks and investors need to pay close attention to this factor to build a suitable strategy.
Dr. Nguyen Duy Phuong, Director of Strategic Investment of DG Capital, said that technical signals have confirmed that the VN-Index has entered the adjustment phase. The optimistic point is that liquidity is not too large, showing that supply has not caused pressure. Still hoping this is a healthy and technical correction to reinforce the market's uptrend.
"The support zone near the 1,320 - 1,325 point level may experience a support force, creating a recovery reaction and helping the movement return to balance around the 1,340 point level (+/- 10 points). However, if this area is penetrated, the index of possibility of re-evaluating the psychological mark of 1,300 points", Dr. Phuong stated his opinion.
