Cash flow pours in to 'rescue', VN-Index narrows decline

Bottom-fishing cash flow has joined in but is not enough to withstand selling pressure. Photo: MINH KHÁNH

After the sharpest drop in history yesterday, April 3, the Vietnamese stock market has yet to recover its sentiment. The "panic" sell-off continued to spread across the entire trading floor this morning, April 4, with the VN-Index at one point dropping more than 70 points.

Currently, the main index representing the HoSE is fluctuating around the 1,180 point mark, equivalent to a decrease of more than 50 points compared to yesterday's closing price. This means that after less than 2 trading sessions, all investment achievements recorded over the past year of Vietnamese stocks have been wiped out.

On the Hanoi Stock Exchange, the HNX-Index also decreased in the same direction by 12.22 points (-5.53%) to 208.73 points, while the UPCoM-Index decreased by 2.62 points (-2.89%) to 87.96 points.

The sell-off wave pushed liquidity on all three exchanges to skyrocket to more than VND13,000 billion in less than 1 hour of trading.

Mr. Pham Tran Duc Thang, analyst at New World Group, warned that falling prices will be the main picture for the stock market today.

As of 10:30 a.m., the selling pressure had somewhat eased while "bottom-fishing" money flowed in. The VN-Index thus narrowed the damage to 35 points and fluctuated around the 1,190 point mark.

Investors are watching the board as VIC and VHM go against the market trend on the morning of April 4. Photo: TAT DAT

On the electronic board, some large-cap stocks have regained green, most notably Vingroup (VIC, +4%) and Vinhomes (VHM, +1.3%), VNM (+1.8%), NAB (+0.3%), LPB (+1%). These are also rare supports for the market during this period.

Many pillar codes hit the floor at the beginning of the session such as TCB (-2.1%), MBB (-2.9%), STB (-0.3%), CTG (-3.2%), HPG (-2.8%), FPT (-4.3%), MWG (-3.3%), VCB (-2.3%) also began to be "rescued" by buying cash flow.

However, there are still many stocks at the floor or falling close to the floor, such as CTD, DIG, PDR, NLG, PAN, DBC, VTP, PVT or BCM.

VN (synthesis)

Source: https://baohaiduong.vn/dong-tien-do-vao-giai-cuu-vn-index-thu-hep-da-giam-408715.html