Cautious investor sentiment leads VNE stock to surge against the trend and hit the ceiling price.
Market liquidity decreased significantly as capital flows became cautious, with many investors choosing to observe and wait for the VN-Index's reaction at the 1,860-1,870 support level before establishing the next trend.
Opening the trading session on the morning of May 29th, a cautious sentiment quickly dominated the market, resulting in a clear divergence on the electronic board. Overall, capital flows were quite weak due to a lack of sectors or stocks generating significant volatility; most stocks only fluctuated slightly around the reference price.
This development caused the VN-Index to mostly fluctuate within a narrow range around the reference point, while liquidity on the HOSE after more than an hour of trading only reached over 4,000 billion VND.
A notable highlight is VNE stock, which, despite receiving a warning and HOSE's decision to delist it, has continued its streak of hitting the ceiling price since the beginning of the week, reaching 3,320 VND. Trading volume reached over 0.85 million shares, and there were still over 1.3 million buy orders at the ceiling price.
In the real estate sector, VHM (-0.06%), NVL (-1%), VIC (-0.09%), PDR (-2.12%), DXG (-1.12%), VRE (-0.16%), SZC (-3.91%), and KBC (-2%) saw declines. In the banking sector, SHB (-0.72%), VCB (-0.96%), HDB (-0.77%), VPB (-0.37%), MBB (-0.4%), and CTG (-0.14%) experienced declines.
The financial services sector saw gains, including VIX (+1.7%), SSI (+0.91%), VND (-0.29%), SHS (+0.56%), VCI (-0.2%), and VCK (-1.06%). The chemical sector was dominated by losses, including GVR (-1.16%), DCM (-0.5%), DPM (-0.97%), DGC (-1.05%), and CSV (-0.59%).
At the close of this morning's trading session, the VN-Index fell 0.44 points to 1,863.23 points (-0.02%) compared to the previous session. Similarly, the UPCoM-Index decreased by 125.27 points (-0.29%), equivalent to 0.36 points. Meanwhile, the HNX-Index increased by 292.98 points (+2.6%), equivalent to 7.42 points.
Market liquidity reached VND 7,305.61 billion, with 277,000 shares traded. Across the sector, 108 stocks rose (including 2 that hit the ceiling price), 174 stocks fell, and 61 stocks dropped to the reference price.
According to experts at Kien Thiet Vietnam Securities Company, in yesterday's trading session, the large-cap stocks of the Vin Group (VHM, VPL, VRE) reversed their downward trend and rose again, but this was still not enough to prevent the VN-Index from falling for the third consecutive session. Liquidity decreased slightly compared to the previous session and was nearly 18% lower than the 20-day average.
The outflow of money from declining stocks was three times greater than the outflow from rising stocks, indicating that selling pressure was entirely proactive. The downtrend continues to prevail and is likely to continue in the coming sessions.
Investors should maintain a cautious stance, not rush into new net buying positions, and patiently wait for more positive signals, especially a clear improvement in liquidity.
According to experts at Vietcombank Securities Company, the VN-Index recorded a correction session and lost the 1,860-point mark. Given the current situation, investors are advised to closely monitor market movements to restructure their portfolios in a timely manner when they reach stop-loss levels.
On the other hand, instead of rushing to buy at the bottom, investors should use this time to filter and find stocks that are still holding firm at important technical support levels such as the MA20 or the nearest accumulation base despite the selling pressure of the overall market, in order to look for opportunities to invest when the VN-Index stops falling and begins to show signs of stabilizing again.
Stocks that are resilient during a VN-Index downturn are often also the fastest and strongest recoveries during a market rebound.