Image Credits: VietNam News
The Vietnamese stock market opened the new week with a decline, bringing an end to a four-day winning streak. Trading activity reflected the bearish sentiment, with liquidity decreasing sharply. Total market turnover fell to VNĐ12.9 trillion (approximately US$527 million), a significant drop of 40% compared to the previous session.
The VN30-Index, which tracks the top 30 stocks by market capitalization on the HoSE, also experienced a downturn, falling by 4.88 points or 0.37% to finish at 1,321.12 points. In the VN30 basket, 17 stocks declined, while 11 rose and two remained unchanged.
Large-cap stocks in the financial and manufacturing sectors led the market’s decline. Notably, the Bank for Investment and Development of Vietnam (BID) saw the steepest drop, decreasing by 0.71% and contributing nearly 0.5 points to the VN-Index’s overall decline. FPT Corporation (FPT) and Southeast Asia Commercial Joint Stock Bank (SSB) also faced losses, falling by 0.96% and 3.63%, respectively.
Conversely, some key stocks posted gains, notably the Bank for Foreign Trade of Vietnam (VCB), which increased by 0.33%, adding over 0.4 points to the VN-Index.
Analysts from Viet Dragon Securities observed that the drop in liquidity reflects limited support from cash flow. Despite the market’s decline, supply pressures appeared subdued. They anticipate that the market will continue to experience a testing phase regarding supply and demand. Maintaining levels above 1,260 points is considered crucial for supporting a potential recovery.
Investors are advised to monitor supply-demand dynamics at this support level and focus on stocks with stable performance that have recently attracted cash flow. Experts recommend considering profit-taking strategies during any recovery phase or adjusting portfolios to mitigate risks.
On the Hà NộI Stock Exchange (HNX), the HNX-Index also declined, falling by 0.39% to close at 233.38 points, with shares worth over VNĐ852 billion traded during the session. Foreign investors resumed their net buying trend, purchasing more than VNĐ213 billion on the HoSE.