The market was quiet, but a series of small and medium-sized stocks unexpectedly surged.
The market is trading in a fragmented state with liquidity remaining low, and many investors are turning to small and medium-sized stocks with high speculative potential.
Opening the trading session on the morning of June 1st, the market showed few noteworthy signals, with a divergent trend still prevailing. Capital flow remained low, and the price fluctuations of most stock groups were quite narrow, resulting in an overall subdued trading atmosphere lacking significant highlights.
In this context, a portion of the capital flow tended to gravitate towards small and medium-sized speculative stocks in search of short-term opportunities. As a result, HQC, BKG, and VNE quickly surged to their ceiling prices, while OGC, SZC, HAR, ABS, and BFC all recorded gains of 3-6%.
The highlight on the HNX exchange continued to be THD, as its stock quickly surged by the maximum allowed limit of 10% to 134,400 VND/share, despite relatively modest liquidity with only about 3,000 units changing hands after more than an hour of trading.
In addition, KSF also attracted attention when it hit the ceiling price, rising 9.9% to VND 103,100 per share, with a trading volume of over 370,000 units.
The banking sector was dominated by red, with SHB (-1.09%), ACB (-1%), HDB (-0.97%), MSB (-2.61%), MBB (-0.2%), and VPB (-0.37%). In the real estate sector, VHM (-1.47%), VIC (-1.7%), PDR (-1.26%), NVL (-0.66%), and KBC (-1.31%) all showing declines.
The financial services sector showed divergence, with VIX (+0.56%), VND (+2.08%), HCM (-1.64%), TCX (-1.67%), and VCK (-1.21%). Similarly, the chemical sector also saw divergence, with DCM (-1.63%), BFC (+6.86%), DPM (-0.77%), DGC (-2.58%), VTZ (-0.98%), and DDV (-0.3%).
At the close of this morning's trading session, the VN-Index fell 10.45 points to 1,853.04 points (-0.56%) compared to the previous session. Meanwhile, the UPCoM-Index increased by 125.54 points (+0.26%), equivalent to 0.33 points, and the HNX-Index increased by 304.6 points (+3.28%), equivalent to 9.66 points.
Market liquidity reached VND 5,998.77 billion, with 194,000 shares traded. Across the sector, 139 stocks increased, with 5 hitting the ceiling price, 138 stocks decreased, and 65 stocks fell to the reference price.
According to experts at Kien Thiet Vietnam Securities Company, looking at the weekly chart, the prolonged situation of buying stocks at peak prices has resulted in the stocks in the portfolios of most investors performing poorly, and the unfulfilled expectations of an uptrend for the VN-Index will have to wait until June.
In the context of weak demand, cash flow is unlikely to be readily available to all sectors in the market, and perhaps simply maintaining purchasing power for investors would be considered a success in the current period.
Investors continue to maintain their portfolio holding stance and are not in a hurry to return to new buying positions, given the continued low liquidity and will carefully select sectors showing signs of trend consolidation before the market stabilizes.
According to experts at Vietcombank Securities Company, the VN-Index is currently testing its momentum around the 1,850 - 1,870 point range. Simultaneously, capital flows continue to show clear differentiation among sectors, with some stocks beginning to show signs of rebound after a period of downward correction.
Accordingly, investors are advised to closely monitor market developments in the coming sessions. At the same time, they should exercise greater caution when opening new positions and prioritize taking advantage of intraday price fluctuations for short-term trading purposes on stocks already in their portfolios.
