Selling pressure showed slight signs of increase in the afternoon session, but still not enough to create significant pressure. HoSE’s trading volume increased by about 6% compared to the morning session, and VN-Index closed slightly down 1.1 point. The positive aspect is that the breadth still reflects differentiation, but foreign investors are maintaining a very large net selling volume.
The amount of newly added stocks to the account this afternoon is mostly in losses, but the losses are still not significant. A huge amount of stocks will only be added tomorrow and are currently in good profit. Therefore, it may take until tomorrow for the cumulative pressure to increase.
The two stock exchanges only matched about 10,504 billion VND, an increase of 3% compared to the morning session. HoSE alone matched 9,809 billion VND, an increase of 6%. This is the session with the lowest liquidity in the past 9 sessions.
Selling pressure pushed prices down in the afternoon session. Firstly, the breadth, at the end of the morning session, the VN-Index had 235 stocks up/194 stocks down, but at the end of the session, there were 216 stocks up/242 stocks down. Secondly, in the morning session, HoSE had 52 stocks down more than 1%, but at night, there were 82 stocks. Even in the VN30 basket, there were 18 stocks that decreased compared to the morning session, with only 8 stocks increasing. VN30-Index closed down 0.08% with 9 stocks up/16 stocks down, also worse than the morning session.
Fortunately for VN-Index, VIC and VHM were positive in the afternoon: VIC increased by 2.51% compared to the morning closing price, successfully turn around to increase by 1.95% compared to the reference price. VHM surged by an additional 1.54%, reaching an increase of 1.9% at the closing. These two stocks are still influential, with VHM ranking third in market capitalization and VIC ranking fifth in VN-Index, which helped to save 1.7 points.
However, the number of declining stocks is still higher, although the amplitude is not too large. VCB dropped an additional 0.32%, closing down by 0.54% overall. VNM dropped another 0.44%, changing from green to red by 0.15%. VPB decreased by 0.82% to a decrease of 0.27% compared to the reference price. MSN even fell by 1.53% to a decrease of 0.64% overall. GAS, CTG, MWG, VRE… also performed significantly weaker than the morning session. Even strong stocks like HPG dropped by 2.3% in the afternoon, narrowing the increase to only 0.68% compared to the reference price…
In general, stocks falling in the afternoon session is not difficult to predict. There will be investors who did not sell yesterday having to make a decision today after the price rebounded. Investors who have available stocks and bought at a good price yesterday may also consider selling on the spot… Although the market has reached extremely high liquidity and recovered in yesterday’s session, there is no guarantee that the adjustment is over. Therefore, gradually reducing the proportion when the price recovers is normal.
The stocks under the most pressure today are still stocks going against the trend or have been performing well beforehand, meaning that investors still have profits if they have bought and held for a long time. The real estate group, which was going against the trend in the previous session, turned around today, with DIG, VRE, PDR, DXG, HDC, NVL, NLG… all dropping by more than 1% with liquidity ranging from 100 billion to 800 billion VND. Securities stocks like VIX, SSI, VCI continue to decline. On the other hand, there are also many strong gaining stocks: NKG, EIB, CII, VHM, HSG, VIC, BCG, PHR, HCM are stocks that increased by more than 1% with liquidity exceeding 100 billion VND. Therefore, there is a significant differentiation in strength and it is not based on industry group but on specific supply and demand.
