The stock market opened the first session of the year of the Snake without much enthusiasm when the index representing the largest stock exchange in Vietnam lost nearly 15 points after more than 1 hour. After that, thanks to the "bottom-fishing" buying force, the decline gradually decreased.
Red dominates the stock market on the opening session of Spring
The focus of the stock market in the morning session of February 3 (the 6th day of the Lunar New Year) was the free fall of FPT shares. Within a few minutes of opening, FPT lost nearly 5% of its market value, and the volume of "changed hands" increased dramatically.
Technology stocks like "fire pan"
VN-Index was under great pressure from massive selling pressure, at one point the index lost nearly 16 points before narrowing. A series of large-cap stocks were "dumped" heavily, the market price adjusted quite strongly.
In the VN30 basket, up to 26 codes turned red, causing the index to lose nearly 24 points after more than 1 hour of trading, higher than the decrease of the VN-Index.
The biggest "culprit" that caused the market index to plummet was FPT stock. This was also the stock that foreign investors sold the most this morning, with nearly 250 billion VND.
FPT’s decline did not surprise investors. While the Vietnamese stock market was closed for the Lunar New Year, Nvidia shares and many other American technology companies plunged.
The factor that plunged tech stocks into the red was Chinese startup DeepSeek, which raised concerns about competitiveness in the AI field and the US's leading position could be shaken.
Meanwhile, FPT code of FPT Corporation is a stock that grew strongly last year when combining many factors, including Nvidia.
FPT's $200 million investment in the strategic cooperation agreement with NVIDIA will be disbursed over five years, helping FPT become a service provider in Nvidia's global system integration network.
After losing nearly 4.5% of its market value, each FPT share fell to VND146,900. The fall then slowed down, thanks to strong buying pressure for FPT. The liquidity of this stock increased sharply, with nearly 6.5 million units changing hands after 2 hours of trading.
In addition to FTP, many other technology stocks also suffered strong selling pressure, causing their amplitudes to decrease significantly at the beginning of the new year, such as ELC (-2.15%), FOC (-5.3%), CMG (-4%)...
The entire software group lost nearly 4.2%, while the hardware group was not far behind, losing nearly 4%. The telecommunications group was no better, with the entire industry losing nearly 2.7%, with VGI and MFS falling 2% and 8%, respectively.
By nearly 11:00 a.m., the entire HoSE floor had nearly 300 stocks decreasing in price, while more than 140 stocks remained green. Liquidity in the opening session of Spring was somewhat positive, reaching nearly VND7,000 billion after 2 hours of trading.
After Tet, investors were less hesitant and more willing to buy stocks that were adjusting. As a result, the VN-Index narrowed its decline, losing only nearly 9 points by the end of the session.
USD and gold prices increase, stocks plummet
In addition to the technology group, banking stocks also welcomed the new year in red, contributing to a loss of more than 1% of points this morning.
VCB of Vietcombank, BID of BIDV, SSB of SeABank... are all stocks in the top 10 stocks with the biggest impact on pulling the index down.
In the international market, the USD index (DXY) jumped to nearly 110 points, up nearly 1.4% in the session on February 3. The USD price continued to rise, raising concerns about domestic exchange rate pressure.
The US stock market also fell recently after the Federal Reserve (Fed) kept interest rates unchanged and signaled that it would not rush to cut interest rates in 2025.
Meanwhile, gold prices continue to hit new highs as the world welcomes new policies from President Trump.
On February 2, local time, Mr. Trump announced plans to negotiate with Canada and Mexico after imposing tariffs of up to 25% on goods from these two neighboring countries.
Speaking to reporters after returning to Washington, US President Donald Trump said: "I will speak with Prime Minister (Justin) Trudeau tomorrow morning and will also speak with Mexico at that time."
In addition to these two countries, Mr. Trump has also imposed an additional 10% tariff on China. China, Mexico and Canada are the three leading trading partners of the US and all have announced that they will retaliate when the tariffs take effect on February 4.
Source: https://tuoitre.vn/chung-khoan-trum-do-ngay-khai-xuan-co-phieu-cong-nghe-va-lay-vi-deepseek-20250203110132847.htm
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