|
Market continues decline for third consecutive session
The stock market continued its downward trend on Tuesday, with the VN-Index recording its third consecutive decline, while liquidity saw a significant increase.
Rubber farmers harvesting latex. Shares of Vietnam Rubber Group (GVR) led the decliners on Tuesday. — VNA/VNS Photo
|
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index closed at 1,269.89 points, down 9.88 points or 0.77 per cent.
Market breadth on the southern bourse was negative, with 213 stocks declining, 99 advancing and 47 remaining unchanged. Liquidity surged to VNĐ19 trillion (US$748.7 million), marking a 32.8 per cent increase compared to the previous session.
The VN30-Index, which tracks the top 30 stocks by market capitalisation on the HoSE, also fell by 9.11 points, or 0.67 per cent, to close at 1,348.92 points. Within the VN30 basket, 23 stocks declined, five advanced and two remained unchanged.
The market’s decline was driven by large-cap stocks in the financial and manufacturing sectors, with Vietnam Rubber Group - Joint Stock Company (GVR) seeing the steepest drop, falling 4.12 per cent and contributing more than 1.3 points to the VN-Index's overall decrease.
This was followed by losses from the Bank for Investment and Development of Vietnam (BID), down 1.81 per cent and FPT Corporation (FPT), which fell 1.77 per cent.
However, some key stocks helped to offset the market’s losses, led by Vinhomes JSC (VHM), which rose 0.94 per cent, contributing nearly 0.5 points to the VN-Index.
Experts from Việt Dragon Securities noted: "The market remains cautious and once again dipped below the MA(20) level, around 1,270 points. Liquidity increased compared to the previous session, indicating improved cash flow and efforts to support the market. Although the drop was modest, the current candlestick pattern signals a weakening trend. This could exert downward pressure on the market in the near term. The next support range to watch is between 1,265 and 1,270 points.
"Investors should be wary of short-term risks and observe the supply-demand dynamics at support levels to assess market conditions. It is advisable to maintain a balanced portfolio and consider rebalancing to minimise risks."
On the Hà Nội Stock Exchange (HNX), the HNX-Index also closed lower on Tuesday, dropping 0.85 per cent to 225.5 points.
During the session, nearly VNĐ1.5 trillion worth of shares were traded, with a total trading volume of over 59 million shares on the northern market.
Foreign investors extended their net selling streak for an eighth consecutive session, with net sales amounting to over VNĐ137 billion on the HoSE.
Bizhub
|
