Vietnam Stock Market Recap: June 9th Session
The stock market witnessed a gloomy session on Monday, June 9th. Selling pressure on large-cap stocks, notably the Vingroup-Vinhomes duo, led to a significant decline in the VN-Index. At the close, the main index fell 19.32 points to 1,310.57. Trading volume decreased from the previous session, with turnover on HoSE reaching nearly VND 18,000 billion.
Foreign trading was a downside, continuing net selling with a value of VND 331 billion on all three exchanges. Specifically:
On HoSE, foreign investors net sold VND 338 billion.
In the selling session, SHB bank stocks witnessed net selling of VND 75 billion by foreign investors, followed by HAH and VCI, with net selling of VND 71 billion and VND 58 billion, respectively. Additionally, stocks like PVD, DIG, and NVL also faced significant net selling in the tens of billions of VND.
Conversely, GEX witnessed the strongest net buying in the market, with a value of VND 83 billion, while HPG also attracted net buying of around VND 55 billion. Moreover, VHM, EIB, BAF, and VRE also experienced net buying, with values ranging from VND 33 billion to VND 49 billion per stock.
On HNX, foreign investors net bought over VND 33 billion.
In the buying session, PVS and TFC stocks were net bought for VND 24 billion and VND 12 billion, respectively, followed by CEO, IDC, and API, which were net bought by foreign investors in the range of VND 1 billion to VND 6 billion during the session.
On the opposite side, MBS and LAS stocks faced net selling of VND 5 billion and VND 4 billion, respectively, while other stocks like TNG, VNR, and MST also experienced net selling of a few billion VND.
On UPCOM, foreign investors net sold more than VND 26 billion.
In terms of buying, MCH and PXL stocks were net bought, with values of VND 2 billion and nearly VND 1 billion, respectively, while PAT, GDA, and OIL also witnessed slight net buying.
Conversely, ACV stock faced net selling of VND 22 billion, and MML stock was net sold for about VND 6 billion.
Stock Market Outlook for Tomorrow, June 10: Stocks to Face Continued Selling Pressure
The stock market on June 10 is expected to face continued pressure for adjustment. Investors should closely monitor the supply and demand of stocks.
“Investors Take Profits on Vingroup Shares”
The Vingroup stock plunge on June 9th saw billionaire Pham Nhat Vuong’s wealth take a hit, with his holdings on the Vietnamese stock market losing around VND 15,000 billion.
“Cautious Selling by Individuals and Foreign Institutions, Proprietary Traders Seize the Opportunity to Accumulate Positions”
The VN-Index continued its upward trajectory, with a notable net buying figure of 809.2 billion VND, of which 785.1 billion VND was matched orders.
Technical Recovery, But Is the Market Risking a “Bull-Trap”?
The VN-Index continued to be heavily influenced by a few key stocks, with VHM taking center stage today. Investors took advantage of the technical rebound to exit their positions, resulting in a gradual weakening of the market throughout the session. The VN-Index failed to reclaim the 1320-point threshold, while trading volume remained subdued.
“Technical Analysis for June 10: A Cautious Stance Persists”
The VN-Index and HNX-Index both witnessed a slight uptick, however, the trading volume remained low, indicating a cautious sentiment among investors.
