VN-Index decreased slightly in the morning session of December 4 with low liquidity. In the afternoon session, selling pressure in the banking group increased, causing stocks to decrease by 10 points, to the 1,240 mark.
The stock market has just gone through a strong correction - Photo: QUANG DINH
Vietnamese stocks fell sharply near the end of the session.
Red covered the stock market after martial law was declared by South Korean President Yoon Suk Yeol late on December 3.
Although it only lasted 6 hours, the political turmoil caused the Korean stock index KOSPI to fall sharply (-1.44%).
In the region, China's SHCMP index (-0.42%), Thailand's SET (-0.24%)... also closed in red. While many other stock indexes such as Japan's NIKKEI 225 (+0.07%), Singapore's STI (+0.45%)... still increased points.
Meanwhile, in Vietnam, the VN-Index traded less positively in terms of both points and cash flow. If at the end of the morning session, the index representing the Ho Chi Minh City Stock Exchange lost only more than 2 points, then in the afternoon session, selling pressure increased, causing stocks to fall 10 points, to the 1,240 mark.
The total transaction value of all three floors reached more than 15,600 billion VND. The market breadth was negative with nearly 450 stocks in red, in contrast to more than 260 stocks increasing in price.
Foreign investors returned to net selling for the third consecutive session after net buying last week. The net selling volume today was nearly VND750 billion, up from yesterday. Since the beginning of the year, foreign investors have withdrawn a net VND93,000 billion from the Vietnamese stock market.
The stocks that were sold the most by foreign investors today include: MWG (-250 billion VND); FPT (-134 billion VND), VRE (-82 billion VND), VNM (-71 billion VND), MCH (-68 billion VND), NLG (-49 billion VND)...
Regarding the movement in each industry group, it can be seen that selling pressure increased in the banking group. The entire banking group lost 0.62% today, many codes were adjusted over 1%, including: LPB (-1.47%), TPB (-1.25%), BID (-1.95%), MSB (-1.32%), CTG (-1.67%)...
Similarly, the securities group also lost 1.5% today. In which, leading stocks such as VND of VNDiect "evaporated" 3.6% with large liquidity, causing a significant psychological impact on investors.
Why did the stock market fall?
After supporting banking system liquidity in November, the State Bank has just moved to switch to net withdrawal status again.
In total, in the last 3 sessions, the State Bank has withdrawn nearly 54,000 billion VND from the banking system.
The move to attract money through lending channels using valuable papers or treasury bills is often considered to have a certain impact on the stock market. Basically, the pressure on exchange rates is still large, causing concern for investors, especially in the context of the current lack of momentum in the stock market.
Looking back over the past year, the Vietnamese stock market has been regularly affected by exchange rates, with the VN-Index's fluctuations always moving in the opposite direction to the USD index (DXY).
In a newly released macro update report, a securities company raised its forecast for the VND/USD exchange rate after assessing that the upward trend of the USD is likely to continue, especially if Mr. Trump implements expansionary fiscal policies and implements tariff policies.
In general, in the negative scenario, the market risk factor is very large, the bottom of VN-Index will be very difficult to predict. The necessary condition is that risks related to domestic exchange rates show signs of cooling down, foreign investors stop net selling...
Source: https://tuoitre.vn/chung-khoan-han-lao-doc-vn-index-roi-manh-voi-gan-450-co-phieu-giam-gia-20241204155731237.htm
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