The stock market in Vietnam started off on a downward trend at the beginning of the session, with the VN-Index dropping below the reference point for the entire day. Despite this, there were still some stocks that saw gains, such as NVL and HVN. In the first few minutes of trading, the VN-Index dropped by more than 10 points and then mostly fluctuated between 1,255-1,260 points throughout the morning.
Selling pressure was prevalent in most industry sectors, with the exception of oil and gas stocks. However, in the afternoon, there was strong demand for certain stocks with their own unique stories like NVL and HVN. The VN-Index showed some improvement coming within 3 points of the reference point at times.
After closing session, there was more downward pressure on HoSE floor where 381 declining stocks were seen three times more than advancing ones. Industry sectors like chemicals, securities banking construction and materials had worst performance. Despite this some stocks did see gains including HVN which closed up 6.7% and NVL had highest trading liquidity in market increasing its price by 4.6% compared to reference point.
Trading value on HoSE increased by over 1300 billion to nearly 25200 billion VND with foreign investors net buyers for second consecutive sessions but value of their investments decreased by nearly 95%. Mr. Nguyen Thanh Trung from Thanh Cong Securities mentioned that market corrections were due to rising inflation risks globally and need for investors to take profits. He advised investors to watch high margin investments and adjust leverage levels accordingly while it’s important for investors to review their portfolios balance speculative stocks with stable options that have good corporate health
