Stocks hit the floor but unexpectedly there was more than 40,000 billion VND to buy

At the end of the week on May 24, stock indexes were in red and most stocks plummeted. VN-Index closed down 19.1 points, down 1.49% to 1,261.93 points. On the Hanoi Stock Exchange, the HNX-Index lost 5.19 points, down 2.1% to 241.72 points and the UPCom-Index fell 0.81% to 94.4 points.

Stocks down but there is more than 40,000 billion VND to buy

Most industry groups were in the red despite having improved at the beginning of the session, such as banking stocks. Large-cap industry groups such as retail, real estate, securities and construction materials fell even more negatively. On the HOSE, many blue-chip stocks quickly turned around, dragging the VN-Index down. Some stocks such as FPT, VCB, CTG, MSN, MWG, VPB, VNM... fell deeply, so a few stocks including ACB, STB, GVR, which went against the trend, were not strong enough to keep the VN-Index at the reference level.

In total, the IT group of stocks had the sharpest decline in the market, mainly due to FPT falling more than 4%, CTR falling 3.88% and CMG losing more than 6%. Followed by the securities industry and the mining industry with decreases of 3.87% and 3.19% respectively.

While stocks fell, market liquidity suddenly increased with more than VND40,000 billion traded. Adding nearly VND3,200 billion in negotiated transactions, the total amount of money spent on buying stocks and fund certificates this session was more than VND40,700 billion.

After yesterday's unexpectedly strong increase, the market weakened quite quickly with outstanding liquidity showing that profit-taking is still very much in the air. According to Mr. Huynh Anh Tuan, General Director of Dong A Bank Securities Company, there is currently no new information that can have a pessimistic impact on stocks. It is possible that the market is trading at the old peak, so the pressure to take profit is quite high, and foreign investors are also increasing their selling, leading to a correction in stock prices.

Source: https://thanhnien.vn/co-phieu-do-san-nhung-bat-ngo-co-hon-40000-ti-dong-gom-mua-185240524155637645.htm