VN-Index lost nearly 20 points in the morning session of June 17.
The VN-Index is under pressure to correct, although many other blue-chip stocks are still maintaining positive gains.
Opening the trading session on the morning of June 17th, market liquidity remained low, reflecting the cautious sentiment of investors as the VN-Index approached short-term resistance levels, while awaiting the results of the US Federal Reserve's (Fed) policy meeting. Although capital flows were diversified across sectors, stock price fluctuations were generally not significant, meaning the market lacked the momentum to create a sudden surge in the first hour of trading.
In this context, the downward pressure mainly came from the Vingroup group of stocks, with all four stocks – VIC, VHM, VRE, and VPL – among the biggest losers in the VN30 basket. Notably, VIC and VHM alone fell by nearly 3%, deducting approximately 13 points from the VN-Index.
Meanwhile, on the upside, the remaining blue-chip stocks were not strong enough to create balance, with most only rising by less than 1%. This development shows that the VN-Index is still in the process of testing the strength of the recovery after regaining the 1,800-point mark.
In the real estate sector, VIC (-3.56%), VHM (-3.59%), VRE (-2.97%), VPI (-0.81%), KDH (-1.69%) and PDR (-0.98%) saw declines. The chemical sector witnessed drops in DCM (-0.68%), DPM (-0.42%), DGC (-0.83%) and AAA (+0.68%).
The banking sector showed mixed performance with SHB (-0.36%), ACB (-1.12%), VPB (-0.19%), MSB (+1.32%), and VIB (+0.62%). Similarly, the financial services sector saw mixed results with VIX (-0.28%), SHS (-0.52%), VND (-0.82%), VCI (-0.2%), and SSI (+0.18%).
At the close of this morning's trading session, the VN-Index fell 17.83 points to 1,790.11 points (-0.99%) compared to the previous session. Meanwhile, the UPCo M-Index increased by 127.18 points (+0.34%), equivalent to 0.43 points, and the HNX-Index increased by 2.76%, equivalent to 8.83 points.
Market liquidity reached VND 8,745.99 billion, with 335,000 shares traded. Across the sector, 132 stocks increased, 145 decreased, and 72 fell to their reference price.
According to experts at Kien Thiet Vietnam Securities Company, the VN-Index recorded its second consecutive recovery session with trading volume remaining at the average level of the past 20 sessions. The flow of capital into rising stocks continued to completely dominate over falling stocks, indicating that more optimistic signals are gradually gaining the upper hand.
Notably, the securities sector, the most sensitive to market fluctuations, has shown positive developments in the last two sessions, signaling an early recovery in the overall market.
However, in our view, the confirmation signal is not yet clear. The VN-Index needs to continue maintaining its upward trend, breaking through the resistance level of 1,820 - 1,830 points with increased liquidity exceeding the 20-day average, for a clearer reversal signal to emerge.
Therefore, investors continue to maintain a cautious stance, not rushing to open new buying positions, patiently waiting for the VN-Index to break through resistance levels with improved liquidity before resuming new net buying positions.
According to experts at Asean Securities Company, technically, the VN-Index maintained a cautiously positive state, closing at 1,808 points, with a majority of stocks rising and a clear concentration of capital in the securities sector, indicating that demand remains present and is tending to spread.
The Doji candlestick pattern reflects the tug-of-war around the high price level, while the RSI at 42 and MFI at 26 suggest that the upward momentum is not yet strong but there is still room for improvement when money flows back in.
The fact that the index is holding above the MA10 is a supportive signal for the short-term recovery trend. If demand continues to strengthen, especially in the Securities sector and large-cap stocks, the VN-Index could aim to test the resistance zone of 1,820 - 1,830 points.
Given the positive market breadth, short-term investors can maintain a moderate to high stock allocation, prioritizing positions with favorable trends and taking advantage of price dips to selectively increase their holdings, rather than chasing steep price increases.
