PLX shares unexpectedly surged to the ceiling price amidst market volatility.
The stock market continued to trade sideways on the morning of June 4th, with no significant signs of improvement in cash flow. The VN-Index fluctuated around the reference point under strong divergence within the VN30 group.
Opening the trading session on the morning of June 4th, after a series of 7 consecutive correction sessions, the market has yet to show strong enough signs of improvement to create a clear change in trend.
Liquidity remained low, with cautious participation from investors. Red continued to dominate the trading screen, while the VN30 group showed strong divergence, causing the VN-Index to fluctuate and experience slight swings around the reference point several times.
The oil and gas sector was a standout performer, with many stocks rising positively, such as PVD, BSR, and GAS, all increasing by 2-3%; ASP surged by over 6%. Most notably, PLX unexpectedly jumped by the maximum allowed limit of 6.9% to 41,850 VND/share, with a trading volume of nearly 5 million units.
Among large-cap stocks, ACB remained the focus of market liquidity with over 22 million shares changing hands. However, the upward momentum of this stock has shown signs of slowing down, with the price only increasing slightly compared to the reference price.
The banking sector showed divergence, with ACB (+1.54%), STB (+2.72%), VCB (+0.32%), SHB (-0.72%), MBB (-0.99%), VPB (-0.38%), and HDB (-0.4%). Similarly, the real estate sector also saw divergence, with VIC (-0.05%), VHM (-0.2%), NVL (+0.37%), VRE (+0.5%), BCM (+0.93%), and TCH (-1.63%).
The financial services sector was dominated by red, with VIX (-1.12%), VND (-1.39%), SHS (-1.09%), SSI (-0.73%), VCI (-0.61%), and HCM (-0.7%). Similarly, the food and beverage sector saw declines of MSN (-1.45%), MCH (-0.23%), BAF (-0.14%), KDC (-1.57%), and HAG (-0.65%).
The oil and gas sector saw PLX (+6.9%) hit the ceiling price, BSR (+3.59%), PVS (+1.82%), PVD (+2.5%), and OIL (+2.04%).
At the close of this morning's trading session, the VN-Index fell 0.35 points to 1,818.66 points (-0.02%) compared to the previous session, while the HNX-Index decreased by 306.06 points (-3.6%), equivalent to 11.42 points. Meanwhile, the UPCoM-Index increased by 126.01 points (+0.31%), equivalent to 0.39 points.
Market liquidity reached VND 7,000.54 billion, with 242,000 shares traded. Across the sector, 88 stocks increased, 3 hit the ceiling price, 200 decreased, and 57 fell to the reference price.
According to experts at AIS Securities Company, the VN-Index continued to decline, at times falling below the 1,800-point mark. Although market breadth improved with more gainers than losers, the index remained under significant pressure from the Vingroup group of stocks. In today's trading sessions, the 1,800-1,810 point range remains a crucial support level to watch. If this range holds, the index may experience a technical rebound to retest the 1,850-point level.
However, if demand does not improve at this support level, the risk of this short-term correction ending anytime soon remains.
According to experts at Asean Securities Company, technically, the VN-Index's movement around the MA10 and MA20 lines, along with the inconsistent signals from RSI and MFI, indicates that the short-term trend remains in a state of consolidation.
In the coming sessions, the VN-Index is likely to continue testing the support zone near 1,810-1,820 points before establishing a clearer trend. If pressure from large-cap stocks eases and capital flows remain widespread, the market may soon regain equilibrium.
Given the current context, short-term investors should not judge the market solely based on index fluctuations, but should observe market breadth, sector cash flow, and the relative strength of individual stocks.
The appropriate strategy is to limit chasing rallies during technical rebounds, maintain a moderate portfolio weighting, and prioritize stocks with strong underlying value and unique stories, such as state divestment, market upgrades, growth-supporting policies, or offshore cycles.