The stock market has just experienced another strong correction session. The Ho Chi Minh City Stock Exchange Index fell to its lowest level in the past 3 months, losing nearly 15 points after more than an hour of the afternoon session on November 14.
VN-Index falls to 3-month low - Photo: QUANG DINH
Shaky trading took place early when VN-Index opened the morning session on November 14.
The HoSE index dropped rapidly to nearly 1,240 points, then bounced back to the reference area and reversed again due to weaker active demand.
Selling pressure increases on pillar stocks, stocks fall sharply
At the end of the morning session, VN-Index decreased more than 3 points to 1,242 points with liquidity decreasing sharply compared to the same time yesterday.
After 2pm, the market was much less active as selling pressure increased. At one point, nearly 500 stocks in the entire market lost points. The "culprits" that caused the sharpest decline in points were the banking and securities groups.
In the top 10 stocks with the biggest impact on today's score, the banking group contributed 6 codes: STB of Sacombank (-2.69%), TCB of Techcombank (-1.51%), VCB of Vietcombank (-0.54%), VPB of VPBank (-1.81%), BID of BIDV (-1.41%), CTG of Vietinbank (-2.18%)...
Securities groups were also actively sold heavily, such as SSI (-2.95%), HCM (-3.21%), VND (-2.44%), VCI (-4.77%), SHS (-2.16%), ORS (-3.03%)...
Other VN30 codes such as: FPT (-1.31%), HPG (-2.77%), MSN (-2.19%)... also suffered strong correction pressure.
On the contrary, the most actively bought stocks today include some real estate and chemical codes. The most notable are the "Vin family" trio including VHM of Vinhomes (+0.12%), VRE of Vincom Retail, VIC of Vingroup (+0.25%)...
Overall, today's market breadth is tilted to the negative side with 19/22 industry groups covered in red, except for semiconductors, food and consumer services.
At the end of the session, VN30 lost nearly 18 points. Meanwhile, VN-Index was "blown away" by more than 14 points, falling back to the 1,230 point mark, making many investors discouraged.
In the context of the gloomy underlying stock market, investors in the derivatives market are taking advantage of the opportunity to seek opportunities in the derivatives market.
The order matching of VN30F1M futures contract has been above the 20-session average for 5 consecutive sessions.
On the contrary, in the last 5 sessions, the underlying market only exceeded the 20-session average in 3/5 sessions. The order matching volume of HOSE compared to yesterday's session also decreased by 5.5% to 555 million units.
Not only VN-Index, other stock indices in the region also performed poorly such as SHCMP (-1.73%), NIKKEI 225 (-0.48%), TWSE (-0.63%).
USD price at historic high, Bitcoin price skyrocketing
VN-Index fell sharply amid rising exchange rate pressure. USD sold at banks reached a record high, surpassing VND25,500.
The US dollar index (DXY) also rose to a one-year high against other major currencies, buoyed by Donald Trump's election victory, despite the Fed cutting interest rates twice.
In addition, Bitcoin also set a new record at $93,480 last night and maintained its upward momentum in this morning's trading session in Asia after Mr. Trump was re-elected.
Speaking with Tuoi Tre Online , Mr. Dang Tran Phuc - Chairman of the Board of Directors of AZfin Vietnam Joint Stock Company - said that the high price of Bitcoin could partly affect the liquidity of the stock market.
"The stock market is still highly speculative. Investors need to master their thinking and strategy so as not to be "led by the nose" but to come up with scenarios for appropriate action," said Mr. Phuc.
Meanwhile, foreign investors are still selling strongly on the Vietnamese stock market, causing significant impacts.
Accumulated statistics from the beginning of the year until now show that foreign investors have net sold more than VND85,000 billion in the Vietnamese stock market, equivalent to more than USD3.3 billion withdrawn despite the Fed cutting interest rates twice.
This is also a record net withdrawal from the Vietnamese stock market in more than 20 years by foreign investors. The cash flow is believed to return to the US with more attractive yields than in Vietnam as well as other Asian markets.
Source: https://tuoitre.vn/chung-khoan-roi-manh-sau-14h-chuyen-gi-khien-thi-truong-lai-trum-sac-do-20241114153001609.htm
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