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Market tumbles as liquidity surges
Market breadth was overwhelmingly negative, with 244 stocks declining compared to just 71 advancing. Trading value on the southern bourse rose sharply to VNĐ17.8 trillion (approximately US$698.9 million), marking a 40.1 per cent increase from the previous session.
A BIDV bank transaction office in Hà Nội. BIDV's shares declined on Thursday, contributing to a significant market drop. — Photo courtesy of BIDV
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The stock market experienced a sharp decline on Thursday, with the VN-Index slipping below the 1,255-point threshold. Liquidity surged significantly, while foreign investors continued their strong net-selling trend.
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index closed at 1,254.67 points, a drop of 11.33 points or 0.89 per cent.
Market breadth was overwhelmingly negative, with 244 stocks declining compared to just 71 advancing. Trading value on the southern bourse rose sharply to VNĐ17.8 trillion (approximately US$698.9 million), marking a 40.1 per cent increase from the previous session.
The VN30-Index, which tracks the 30 largest stocks by market capitalisation on the HoSE, also posted a substantial decline, losing 15.67 points or 1.18 per cent to close at 1,314.16 points. Within the VN30 basket, 26 stocks declined, two advanced and two remained unchanged.
Banking blue chips led the market’s decline, with the Bank for Foreign Trade of Vietnam (VCB) dropping 0.75 per cent, erasing more than 0.9 points from the VN-Index. Similarly, the Bank for Investment and Development of Vietnam (BID) fell by 0.85 per cent, the Vietnam Technological and Commercial Joint Stock Bank (TCB) dropped by 1.86 per cent, and the Southeast Asia Commercial Joint Stock Bank (SSB) suffered a steep loss of 4.35 per cent.
Other significant decliners included Hòa Phát Group JSC (HPG) which lost 1.83 per cent and Vinhomes JSC (VHM) down 1.71 per cent .
Despite the market downturn, gains in select large-cap stocks provided some support. Khang Điền House Trading and Investment JSC (KDH) rose by 1.71 per cent, contributing over 0.15 point to the VN-Index.
Analysts from the Việt Dragon Securities noted: “The market declined after losing the support level at 1,260 points. The surge in liquidity compared to the previous session indicates continued selling pressure.
“While there was some strong fluctuation around 1,255 points due to low-price buying demand, it has yet to provide a meaningful recovery for the market. There may be technical rebounds in the coming sessions, but the risk of the market retreating further to the 1,250-point level remains.
“Investors are advised to remain cautious and wait for clearer support signals from cash inflows in the near term. Given the market's low stability and underlying risks, portfolio management should be carefully considered to avoid overexposure,” the analysts added.
On the Hà Nội Stock Exchange (HNX), the HNX-Index posted a slight gain on Thursday, inching up by 0.11 points or 0.05 per cent to 227.54 points.
Trading on the northern bourse saw over 62 million shares change hands, with a total value of VNĐ1.1 trillion.
Meanwhile, foreign investors extended their net-selling streak, offloading VNĐ480 billion on the HoSE.
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