The Stock Market Swings: “Blue-chips Stumble, Foreign Investors Dump VN30, Small Caps Surge”

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The market experienced significant selling pressure during the morning session on Monday, with the top 10 stocks by market capitalization, except for VPB, trading in the red. Foreign investors dumped VN30 stocks, with net sell-offs surging to over 22% of the total basket’s trading value.

Specifically, foreign investors sold blue-chip stocks worth 481.1 billion VND while purchasing 173.7 billion VND worth of shares, resulting in a net sell-off of nearly 307.5 billion VND in the VN30 basket. CTG, VHM, HPG, VPB, HDB, STB, and BID were among the stocks that witnessed substantial net sell-offs.

Several of these stocks faced downward pressure due to the increased selling. For instance, CTG witnessed nearly 55% of its morning trading volume from foreign sellers, with its price declining by 0.91%. VHM experienced a sell-off of nearly 32% of its total liquidity, causing its price to drop by 0.99%. HPG witnessed sell-offs of approximately 25% of its liquidity, resulting in a price decline of 0.82%…

Overall, foreign investors withdrew nearly 529 billion VND net on the HoSE in the morning session. This marks the fifth consecutive session of net capital outflows. The outflows were not due to sudden sell-offs but rather a significant reduction in buying activity. The total buying value this morning was 438.3 billion VND, the lowest in four weeks. In addition to the aforementioned blue-chip stocks, DIG, TCH, DGC, and FRT also witnessed notable net selling.

Despite the evident pressure and broad-based decline in the market, domestic investors primarily drove the downturn. The VN30-Index closed the morning session down 0.46%, with 7 gainers and 19 losers, including 5 stocks falling by more than 1%: SAB, MWG, VIC, VRE, and HDB.

On the other hand, the Smallcap index moved against the broader market trend, rising 0.54% with a positive breadth of 82 gainers and 72 losers. However, there weren’t many stocks with substantial liquidity in this segment. The Midcap index declined by 0.12%, with a balanced breadth of 35 gainers and 33 losers. Thanks to the performance of these two segments, the HoSE maintained a relatively balanced breadth, with 187 gainers and 235 losers.

The total matched orders on the two exchanges this morning increased by 6.6% compared to the previous session, reaching 7,226.4 billion VND. HoSE recorded a nearly 5% increase, with 6,443 billion VND. While the trading value was not significant, the money flowed into stocks that could easily trigger a price increase, an inherent advantage of small and medium-cap stocks. Currently, HoSE has 90 stocks rising by more than 1%, but their liquidity accounts for only about 20% of the exchange. The only three stocks with matched orders exceeding 100 billion VND and price increases of more than 1% were GEX, up 2.07% with 242.9 billion VND; BAF, up 3.76% with 186.4 billion VND; and HSG, up 1.94% with 135.9 billion VND. Many stocks had lower liquidity, and some even traded in the range of a few dozen billion VND, such as VOS, HQC, APH, PAN, SAM, and EVG…, despite price increases ranging from 3% to 6%.

The VN-Index lost 4.36 points or 0.35% this morning, mainly due to the impact of blue-chip stocks. The top 10 stocks that dragged the index down the most were all from the VN30 basket, resulting in a total loss of 4.3 points. However, there weren’t many stocks that experienced a sell-off. MWG stood out with a 1.36% decline and a trading volume of approximately 160.9 billion VND. Additionally, the declining stocks this morning generally traded within a normal range, and those with higher liquidity witnessed relatively mild declines.

Today’s decline adds to the market’s weakening signals after a stagnant performance last Friday. While trading volume shows signs of improvement, most stocks are gradually declining in price as selling pressure intensifies. Although the overall breadth is not overly negative, declining stocks still outnumber advancing ones. The outperformance of small and medium-cap stocks also reflects a shift in money flow. The VN30 basket accounted for only about 34% of the total matched orders on the HoSE this morning, the lowest proportion in the last 28 sessions.

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