Selling pressure showed a slight increase in the afternoon session, but was not enough to generate significant selling pressure. HoSE trading volume increased by about 6% compared to the morning session and VN-Index closed slightly down 1.1 points. The positive point is that the breadth still showed differentiation, but foreign investors maintained a very large net selling intensity.
The amount of new stocks in the account this afternoon was mostly losses, but the losses were still not significant. The huge amount of stocks will not come until tomorrow and is currently in a good profit. Therefore, it may take until tomorrow for the cumulative pressure to become significant.
The two listed exchanges only traded around VND 10,504 billion, an increase of 3% compared to the morning session. HoSE alone traded VND 9,809 billion, an increase of 6%. This is the lowest liquidity session in the past 9 sessions.
The selling pressure caused a price decrease in the afternoon. Firstly, in terms of breadth, the morning session saw 235 stocks increase/194 stocks decrease, but at the end of the session, it was 216 stocks increase/242 stocks decrease. Secondly, in the morning session, the HoSE had 52 stocks that decreased by more than 1%, but at the closing, it was 82 stocks. Even in the VN30 basket, there were 18 stocks that decreased in price compared to the morning, with only 8 stocks increasing. VN30-Index closed down 0.08% with 9 stocks increasing/16 stocks decreasing, also weaker than the morning session.
VN-Index’s lucky point is that VIC and VHM showed positive movements this afternoon: VIC increased by 2.51% in the afternoon compared to the morning session, successfully turning around to an increase of 1.95% compared to the reference price. VHM surged 1.54% more, ending up with a 1.9% increase at the closing. These stocks are still significant, with VHM standing at the 3rd position in terms of market capitalization and VIC standing at the 5th position in VN-Index, thereby offsetting 1.7 points.
However, the number of stocks declining is still higher, although the amplitude is not too much. VCB decreased by an additional 0.32%, resulting in a total decrease of 0.54%. VNM decreased by an additional 0.44%, turning from green to red by 0.15%. VPB decreased by 0.82%, resulting in a 0.27% decrease compared to the reference price. MSN even fell by 1.53%, resulting in a total decrease of 0.64%. GAS, CTG, MWG, VRE… also performed significantly weaker than the morning session. Even strong stocks like HPG decreased by 2.3% in the afternoon, narrowing the increase to only 0.68% compared to the reference price…
In general, it is not difficult to predict that stocks will be under pressure in the afternoon session. There will be investors who did not sell yesterday but need to make a decision today after prices rebound. Investors who already have stocks and bought at a good price in the afternoon session can also sell on the same day… Although the market has achieved extremely high liquidity and had a recovery session yesterday, there is still no guarantee that the adjustment is over. Therefore, gradually reducing the proportion when prices recover is normal.
The stocks under pressure to decrease the most today are still the ones that have been performing well or have had good increases for a long time, meaning that investors still have profits if they purchased and held for a long time. Real estate stocks that went against the trend in the previous session, such as DIG, VRE, PDR, DXG, HDC, NVL, NLG… turned around and all decreased by over 1% with liquidity ranging from VND 100 billion to 800 billion. Securities stocks such as VIX, SSI, VCI continued to decline. On the contrary, there were also many strong increasing stocks: NKG, EIB, CII, VHM, HSG, VIC, BCG, PHR, HCM were stocks that increased by over 1% with liquidity all surpassing hundreds of billion dong. Thus, the strength of the market also showed significant differentiation and did not depend on a particular industry but on specific supply and demand.
