GAS and BSR shares surged after news that PVN plans to divest its stake.
The VN-Index recovered after an early-session decline as buying pressure gradually improved, pushing the index to briefly touch the 1,750-point mark.
Opening the trading session on the morning of August 18th, the market gradually showed positive signs as demand improved, helping the VN-Index recover step by step and at one point reaching 1,750 points. Market breadth also leaned towards gains with green dominating the electronic board, although liquidity remained relatively low.
The main driving force came from several large-cap stocks, with BSR and GAS becoming the focal point, both rising 5-7%. This positive development followed the announcement that the Vietnam National Energy and Industry Corporation (PVN) plans to divest 2-5% of its stake in GAS and BSR. According to the planned schedule, the valuation of the two companies will be completed no later than December 2026.
Oil and gas group: PLX (+6.9%), BSR (+4.82%), PVS (+3.19%), PVD (+2.75%) and OIL (+3.85%). Real estate group: VIC (+1.01%), VHM (+1.61%), VRE (+1.02%), NVL (+0.76%), VPI (+1.65%) and BCM (+2.38%).
The financial services sector showed divergence, with VIX (+0.75%), VND (+0.31%), LPS (+6.67%), SSI (-0.28%), VCI (-0.23%), and VCK (-0.51%). Similarly, the banking sector also saw divergence, with VPB (-0.81%), SHB (-0.88%), TCB (-2.2%), HDB (+0.19%), VCB (+0.17%), CTG (+0.48%), and BID (+0.97%).
At the close of trading, the VN-Index rose 7.26 points to 1,734.72 points (+0.42%) compared to the previous session. Similarly, the HNX-Index increased by 282.56 points (+1.41%), equivalent to 3.92 points. Meanwhile, the UPCoM-Index decreased by 127.93 points (-0.2%), equivalent to 0.25 points.
Market liquidity reached VND 5,881.58 billion, with 217 million shares traded. Across the sector, 151 stocks increased, 135 decreased, and 64 fell to their reference price.
According to experts at Kirin Securities Joint Stock Company, the VN-Index tested the 1,720-point support level for the second time and narrowed its decline by the end of the session. The extent of the decline narrowed significantly, but a notable point is the sharp decrease in liquidity.
The low trading volume, a sharp drop of nearly 33% compared to the 20-day average, indicates that investor sentiment remains very cautious.
The VN-Index closed lower for three consecutive sessions, indicating that the corrective trend remains dominant despite the 1,720-point support level holding firm.
Investors continue to maintain a cautious stance, limiting the opening of new buying positions, patiently waiting for the VN-Index to retest the 1,660-point support level and for signs of improved liquidity before resuming net buying.
According to experts at Tien Phong Securities Company, investors maintain a cautious view regarding the future performance of the VN-Index, as the trend structure leans towards a decline in the medium term, and liquidity in general remains low compared to the previous period, leaving the market lacking momentum.
However, opportunities still exist during corrections, especially at previously established medium- and long-term support levels such as 1,650 points and 1,600 points.
