Asian financial markets rallied after a US court blocked Trump’s tariff plan. Japanese, South Korean, Chinese, Australian, and Hong Kong stocks surged. Japan’s Nikkei 225 and South Korea’s Kospi both climbed 1.8%.
China’s Shanghai Composite index rose 0.7%, while Australia’s S&P/ASX 200 gained 0.15%. Hong Kong’s Hang Seng Index jumped 1.4%.
Domestic stocks followed the upward trend in regional markets, surging towards the 1,350-point mark right after the opening bell. However, after four consecutive gaining sessions, profit-taking pressure intensified, causing the main index to retreat to the reference level. The market returned to a tug-of-war, with the VN-Index dipping into the red in the latter half of the session.
Contributions from VHM and VRE were not enough to turn the market around. Vingroup’s stocks edged higher despite the market correction, except for VIC, which remained unchanged.
Real estate stocks traded relatively better than the overall market.
Notably, NVL hit the ceiling price, reaching nearly VND 14,000 per share. More than 62.8 million shares changed hands, ranking second on the exchange, just behind SHB. This was also the fourth consecutive session of NVL’s price increase, bringing the stock back to its peak in the past year.
The green color continued to cover CEO, CII, GEX, DIG, PDR, TCH, and KBC, among others. However, their impact on the market was limited. In contrast, large-cap stocks in the banking sector showed a clear divergence.
SHB, MBB, HDB, ACB, and CTG declined in price. SHB, often the most traded stock on the exchange, saw transactions exceeding VND 1,000 billion today. A surprise came from EIB in the banking group, surging 5.3%.
The flow of funds into small and mid-cap stocks is becoming more cautious, causing the upward momentum to disperse across specific sectors and mainly appear in some individual stocks with good buying demand.
At the close, the VN-Index slipped 0.01 points to 1,314. The HNX-Index added 0.74 points (0.33%) to 224.3, and the UPCoM-Index rose 0.03 points (0.03%) to 98.62.
Liquidity eased slightly, with the trading value on HoSE exceeding VND 20,800 billion. Foreign investors continued to net sell over VND 300 billion, focusing on CTG, GEX, and HPG.
Tomorrow’s Stock Market Outlook: Can VN-Index Surpass the 1,345-Point Mark?
“Amidst a cautious trading session on May 29th, the market still presented opportunities for those with a keen eye and patience. “
The Net Foreign Selling Block Offloads Nearly $50 Million Worth of Shares on Friday: Which Stocks Took the Biggest Hit?
This marks the group’s sixth consecutive net selling session.
Technical Analysis for May 29: Short-Term Risks Begin to Emerge
The VN-Index and HNX-Index displayed a contrasting performance, with the Stochastic Oscillator indicating a potential bearish divergence in the overbought territory. This divergence suggests a heightened risk of a short-term correction if sell signals emerge and the indicator drops out of this zone.
A Brilliant May for Vietnam’s Stock Market: VN-Index Hits 3-Year High, Foreign Investors Return with a Bang, and a Mega IPO Takes Center Stage.
The Vietnamese stock market has just witnessed its strongest May performance in years, bolstered by a plethora of positive news and supportive factors.
Technical Analysis for May 30: Short-Term Outlook Dims
The VN-Index and HNX-Index witnessed a synchronous decline, accompanied by rather negative technical signals, indicating a heightened risk of downward adjustment.
