VN-Index is adjusting strongly when it cannot maintain support around 1,850 points. In this morning's trading session (June 3), the real estate stock group is facing many "storms" as selling pressure is concentrated in large-cap stocks and is also the group that has a negative impact on the indices.
At the end of the morning trading session, VN-Index decreased by 17.21 points (-0.94%), stopping at 1,809.26 points; HNX-Index also decreased sharply by 3.06%, stopping at 305.16 points. However, the market breadth was quite balanced with 298 decliners, 262 gainers and 994 unchanged stocks.
Market liquidity is improving compared to the previous session. The trading value of HOSE this morning reached more than 9,300 billion VND, an increase of 25.65% compared to the last session of last week. Similarly, trading on the HNX also recorded a strong increase with nearly 25 million units, equivalent to 437 billion VND.
Regarding the level of impact, the 10 stocks with the most negative impact took away a total of 22.06 points of VN-Index, especially VIC and VHM put pressure up to 19 points. In the opposite direction, FPT, GAS and ACB are the stocks with the most positive impact, but also only brought the overall index up by 2.26 points.
Differentiated developments continue to dominate the market as cash flow mainly concentrates in some separate industry groups. The financial sector recovered strongly with green color covering most leading stocks.
In the opposite direction, real estate was the group with the strongest decrease in the market with a decrease of 3.8% due to the negative developments of large-cap stocks such as VHM (-3.05%), VIC (-4.64%), VRE (-3.39%), NVL (-4.58%), ...
Foreign investors continued to net sell with a value of 495.19 billion VND on all three exchanges. Selling pressure mainly focused on VHM with a value of 221.07 billion VND, followed by ACB and VIC with values of 181.79 billion and 143.26 billion respectively. Conversely, FPT led the net buying top with a value of 404.28 billion VND, far ahead of the remaining stocks.
In the current context, investor sentiment is being tested greatly and continuously for many consecutive sessions. If the account balance is not balanced well, investors may fall into the situation of'call margin' and'force selling' in the coming sessions. At the same time, investors will also be disadvantaged in market fluctuations and strong declines due to lack of buying power to buy stocks that are being sold off.
Yuanta Securities Company believes that the VN-Index continues to decline with liquidity increasing again. Appearing consecutive declining candlesticks show that supply is overwhelming. Trend and momentum indicators are also going down and there are no signs of slowing down. The index is likely to test a lower zone around 1,810 points. In addition, the short-term trend of the VN-Index is still at a neutral level.
Yuanta recommends that with a short-term strategy, investors can hold stock holdings at the current level and wait for a recovery phase to restructure their portfolios in the direction of gradually reducing stock holdings. At the same time, investors should limit new purchases.
