Sharp Red on Vietnam Stock Exchange: Selling Pressure Drives Declines

The VN-Index dropped nearly 16 points as red dominated the board, with all 30 bluechip codes closing below reference. Despite selling pressure, stock holders did not drastically lower their prices, while buyers were only offering at low price ranges. In the afternoon session, there was a slight recovery in the market, nearing reference before 2:00 p.m. However, selling pressure increased sharply later on, causing many stocks to retreat and leading to a decrease of over 10 points in the VN-Index.

The electricity sector was particularly affected during the session as red dominated with 368 codes decreasing on HoSE compared to 130 increasing. Market liquidity remained high, with the transaction value on HoSE reaching over 27,400 billion VND. In the large capitalization group, most codes saw decreases ranging from 1-2%, with GVR, CTG, and MWG experiencing the strongest declines. Sacombank’s STB stock had the highest liquidity in the blue-chip group.

Interestingly, the Vingroup group fell the least in today’s session as buyers showed interest in VIC and VHM stocks only losing 0.1-0.2% of market price each. In contrast to this performance of blue-chip groups, there was a spread of red across real estate construction and stocks in mid-cap groups while some codes in fertilizer oil and gas seafood groups remained green.

On the Hanoi stock exchange, both the HNX-Index and UPCOM-Index closed in the red as sellers pushed prices downwards throughout trading hours.

Overall market trends continued until closing time when there was a decline of 15.57 points (1.21%) for VN Index and over 18 points (1.4%) for VN30 Index respectively.

In summary: Today’s session witnessed significant selling pressure that led to sharp declines across several sectors including electricity sector where most codes decreased on HoSE compared to increasing ones.

Despite this trend among bluechips groups such as GVR CTG MWG experienced strong declines but interest from buyers showed up for VIC &VHM stocks which lost only about %2%. On mid caps real estate construction stocks were heavily impacted by selling pressure while fertilizer oil & gas seafood groups remained green despite sellers pushing prices downwards throughout trading hours