Stock market gloomy after September 2nd holiday - Photo: QUANG DINH
Opening the trading session this morning (September 5), cautious sentiment remained on the stock market after yesterday's adjustment session.
Thanks to the positive increase of the "trio" of Vin "family" stocks such as VRE of Vincom Retail, VHM of Vinhomes, VIC of Vingroup, VN-Index contributed to increasing by more than 2 points in the morning session.
In the afternoon session, the market remained quite volatile. Selling pressure gradually increased towards the end of the session, and finally the HoSE representative index retreated to 1,268 after losing nearly 8 points.
By the end of the session, the VN30 set only had 3 stocks increasing in price, including VHM (+2.94%), VIC (+2.39%), VNM (+0.54%) of Vinamilk, while VRE fell back to the reference level.
By sector, except for real estate (+0.7%) and production materials (+0.34%), most of the remaining industry groups lost points.
Of which, the three finance-related industries all remained red, such as banking (-0.76%), securities (-0.49%), and insurance (-0.28%).
In summary, all 3 floors today had 428 stocks decreasing, 268 stocks increasing, the number of stocks "standing still" was up to nearly 890.
The market has not become active again as the total transaction value is still only around 18,000 billion VND.
Although it has narrowed compared to the previous session, foreign investors still net sold more than 750 billion VND in today's session despite the exchange rate cooling down.
In the list of foreign investors who "dumped" the most, there are still some familiar names such as FPT (-296 billion VND), HPG of Hoa Phat (-77 billion VND)...
In addition, stocks VPB of VPBank, VCI of Vietcap, HSG of Hoa Sen, STB of Sacombank... are also on the list of stocks that were sold heavily by foreigners today.
This session also saw a foreign-to-foreign transaction at MBB worth nearly VND1,300 billion.
Market developments in both sessions after the September 2 holiday went against experts' expectations.
Previously, many experts predicted that the stock market would be more active when it returned to trading after the long holiday.
The basis for this assessment is that recent developments in both domestic and international macro have been supportive of the stock market.
Mr. Dinh Quang Hinh - Head of Macro and Market Strategy Department, VNDirect Analysis Division, said that the Fed's upcoming interest rate cut this September is positive news for the global financial market, not just Vietnam.
Domestically, the cooling pressure on exchange rates and the State Bank's "policy easing" moves have gradually had a positive impact on investor sentiment in the stock market.
In addition, according to Mr. Hinh, when the "holiday mentality" is lifted, cash flow will soon return and push the VN-Index towards the strong resistance zone of 1,290-1,310 points.
However, in the context of low interest rates being maintained as they are now, some opinions say that money flow has been shifting to real estate.
Looking at the stock return rate with real estate from the beginning of the year until now, real estate is still attracting more investors.
Source: https://tuoitre.vn/chung-khoan-ban-manh-cuoi-phien-co-phieu-ho-vin-lai-dong-loat-tang-gia-20240905152649694.htm
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