The “red-hot” Asian stocks were the reason why domestic investors were worried and rushed to sell to cut losses on August 5. Without receiving support from any large stocks, the VN Index fell freely by more than 48 points (equivalent to 3.92%) to 1,188 points.
According to statistics, at the end of the session, the entire HoSE floor had 448 stocks decreasing, of which nearly 100 stocks hit the floor, 24 stocks increased and 25 stocks remained unchanged. Notably, all stocks in the VN30 basket decreased in points and contributed 44 points to the index.
Foreign investors also competed to sell in today's session. Statistics show that foreign investors net sold 455 billion VND on the HoSE, in which the code that foreign investors sold the most was HPG (231 billion VND).
Cash flow continued to escape the real estate sector, causing most stocks in this sector to fall sharply. Next, the financial sector stocks also shone red when leading stocks in the banking and securities sectors fell many points. Today's sharp decline caused the market to fall into an alarming state when a series of stocks began to reach the margin call threshold (mortgage liquidation).
One of the reasons for the market turmoil is seen as the influence of global stocks. The sell-off that has rocked global equity markets is clouding the outlook for investors looking to buy at the bottom, as concerns about the US economy and disappointing earnings reports from technology stocks threaten to lead to further declines in the coming period.
Meanwhile, Asian stock markets continued to face strong profit-taking pressure, especially after the Bank of Japan (BOJ) returned to normalizing monetary policy by raising interest rates and reducing the scale of government bond purchases.
Dr. Nguyen Duy Phuong - Investment Director of DG Capital - expressed his opinion that the downward trend will continue, especially in the context of the global political and economic situation being quite risky, the stock markets in countries such as the US, Japan, and Europe also witnessed deep declines. The psychological threshold of 1,200 has been violated, it may return to the old bottom of 1,165 - 1,175 to recover if the ratio of oversold stocks increases and the market psychology reaches its limit.
Source: https://laodong.vn/kinh-doanh/chung-khoan-lao-doc-bao-dong-call-margin-1376270.ldo
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