In the trading session on June 4, VN-Index almost only moved sideways around the reference level for most of the trading time and was only unexpectedly pulled up in the afternoon session, up around 1,830 points when the green color expanded in the VN30 basket.
At the end of the trading session, VN-Index increased 12.54 points (+0.69%), to 1,831.55 points.
Total trading volume reached more than 601.3 million units, value of 22,116.5 billion VND, down nearly 17% in volume but up nearly 8% in value compared to yesterday's session, mainly affected by negotiated transactions of more than 151 million units, value of more than 9,248 billion VND, with a contribution of nearly 5,000 billion VND from more than 25.29 million VIC shares.
However, stocks fell into a state of "green shell, red heart" when the entire HoSE exchange had 164 declining stocks, more than 140 increasing stocks. The difference between the two groups is not high, showing that supply pressure has cooled down.
Market sentiment continued to be affected by foreign cash flow when net selling about 5,775 billion VND for the 15th consecutive session. However, most of that came from negotiated transactions in VIC. Meanwhile, foreign investors still strongly net bought FPT.
The VN30 group with PLX shares is still the fulcrum when maintaining the ceiling price of +6.9% to 41,850 VND, matching more than 6.4 million units. Information supporting PLX may come from the fact that this Group is expected to sell all of its existing more than 23 million treasury shares to the market.
Other bluechips stood out, including STB when accelerating +6.5% to 70,400 VND, matching more than 10.8 million units. BID, GVR, VIB, VRE, BSR codes increased from nearly 2% to nearly 4%, along with VIC and VHM, although only slightly increased, also contributed the majority of points to the VN-Index.
The stock market has balanced and recovered relatively well when under adjustment pressure to the 1,800 point zone. This is a reasonable price zone today with short-term selling pressure to decrease, the market will rebalance.
Many codes and code groups are showing signs of expecting to create short-term and medium-term bottoms after a period of adjustment and accumulation. However, there are still not many outstanding growth opportunities in the current context and when cash flow has not improved well. Order matching liquidity is still recorded at a very low level and the recovery session is not convincing enough about reversing the trend.
Asean Securities Company believes that if pressure from large-cap groups cools down and cash flow maintains spread, the market may soon regain balance. With the current context, short-term investors should not assess the market based solely on index fluctuations, but need to observe the breadth, industry cash flow and relative strength of each stock.
Asean experts believe that the appropriate strategy is to limit chasing purchases at technical rebounds, maintain a moderate proportion and prioritize stocks that maintain a good price base, have their own story such as state divestment, market upgrades, growth support policies or offshore cycles.
TPS Securities Company recommends that investors may consider maintaining the positions they are holding, but new disbursement needs to be carried out selectively when the possibility of reversing the market trend becomes clearer in the following trading sessions.
