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Market mixed as foreign bloc maintains net selling trend
The stock market paused its recovery momentum on Tuesday, with liquidity slightly declining and foreign investors continuing their net selling trend.
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index closed at 1,272.07 points, down by 1.77 points or 0.14 per cent.
Market breadth was negative, as 162 stocks declined, 148 advanced and 64 remained unchanged. Liquidity fell to VNĐ14.4 trillion (US$568.4 million), marking a 13.77 per cent decrease from the previous session.
The VN30-Index, which tracks the 30 largest stocks by market capitalisation on the HoSE, also dipped slightly by 0.33 points, or 0.02 per cent, to 1,335.85 points. Among VN30 stocks, 17 fell, 11 rose and two remained flat.
The decline was driven by banking blue chips, with the Bank for Foreign Trade of Vietnam (VCB) falling by 0.84 per cent, pulling more than one point from the VN-Index.
Other major contributors to the downturn included the Vingroup Joint Stock Company (VIC), which dropped by 1.55 per cent, and the Vinhomes JSC (VHM), down by 1.21 per cent.
However, gains in select large-cap stocks provided some support. FPT Corporation (FPT) rose by 1.7 per cent, adding over 0.9 point to the VN-Index.
Ho Chi Minh City Development Joint Stock Commercial Bank (HDB) saw a strong gain of 3.7 per cent, while Hòa Phát Group JSC (HPG) increased by 0.9 per cent.
Analysts from Việt Dragon Securities noted: “Liquidity decreased compared to the previous session, reflecting cautious sentiment among investors despite the market's recovery. The current rebound is largely technical, supported by a reduction in supply as the market approaches a support zone. This trend may continue in the next session, but it remains fragile. The market is expected to face resistance between 1,265 and 1,280 points, with risks of retreating.
“Investors should remain cautious, closely monitor supply-demand dynamics and assess the market's state. Given the market’s instability and inherent risks, careful portfolio management is essential to avoid overexposure.”
On the Hà Nội Stock Exchange (HNX), the HNX-Index edged up by 0.01 per cent to close at 229.24 points. Trading volume on the northern bourse surpassed 51 million shares, valued at over VNĐ1.1 trillion.
Foreign investors continued their net selling, with net outflows exceeding VNĐ134 billion on the HoSE.
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