VIC shares carried the market, pushing the VN-Index above 1,840 points.
Primarily supported by VIC's upward momentum, the VN-Index continued to extend its gains and surpassed the 1,840-point mark. However, liquidity remained low, indicating that cautious sentiment still dominated the flow of money.
Opening the trading session on the morning of June 5th, the VN-Index maintained its upward momentum and at one point approached the 1,840-point mark. The main driving force behind the increase was still VIC shares, which rose by more than 3%, contributing over 10 points to the overall index.
Nevertheless, the market picture is not truly positive, with most stocks on the electronic board still trading in the red. Liquidity remains low, and cautious capital flows have resulted in rather subdued trading, lacking sectors strong enough to create significant highlights.
This development reflects investor caution in the face of rising indices but a market breadth leaning toward a decline.
On the HNX exchange, pressure has not eased as two large-cap stocks, THD and KSF, continue to hit their lower limits, thereby creating further drag on the overall market performance.
Green dominated the real estate sector with VIC (+4.5%), VHM (+1.93%), VRE (+1.29%), NVL (+0.36%), and KDH (+0.88%). Similarly, in the construction and materials group, CII (+0.3%), PC1 (+1.61%), MST (+3.57%), GEL (+0.79%), and HHV (+0.86%) also saw gains.
Meanwhile, the financial services sector showed mixed performance with VIX (+0.28%), VCK (+0.47%), F88 (+2.5%), MBS (+0.5%), VND (-0.56%), VCI (-0.21%), HCM (+0.1%), and SSI (+0.18%). Similarly, the banking sector saw mixed results with SHB (+1.45%), TPB (+1.88%), VCB (-0.48%), STB (-1.28%), and HDB (-0.2%).
At the close of this morning's trading session, the VN-Index rose 11.54 points to 1,843.09 points (+0.63%) compared to the previous session. Meanwhile, the UPCo M-Index fell 125.69 points (-0.14%), equivalent to 0.17 points, and the HNX-Index fell 294.08 points (-3.5%), equivalent to 10.78 points.
Market liquidity reached VND 5,717.72 billion, with 218,000 shares traded. Across the sector, 100 stocks increased, 183 decreased, and 57 fell to their reference price.
According to experts at Asean Securities Company, technically, the VN-Index is sending conflicting signals as the recovery efforts during the session were not enough to reverse the main downtrend, as evidenced by the index closing below the MA10 and MA20 moving averages, along with the weakening of momentum indicators RSI and MFI.
Although buyers dominated the session, pushing the closing price near the day's high, the lack of significant liquidity suggests that the short-term scenario remains one of sideways trading within a narrow range before a clearer trend is established.
Therefore, the optimal trading strategy at this time is to maintain a moderate portfolio weighting, avoid chasing rallies, and focus on observing the index's reaction at the support zone of 1,830 - 1,840 points as well as the resistance zone of 1,850 - 1,860 points.
Short-term investors should prioritize stocks with unique stories, such as state divestment, economic development resolutions, market upgrade roadmaps, or offshore cycles.
According to experts at Tien Phong Securities Company, investors can consider maintaining their current positions; however, new investments should be made selectively when the likelihood of a market trend reversal becomes clearer in subsequent trading sessions.
