Inflation cools down, investors still sell off
The stock market session on June 29 received a lot of important information as today is the day the General Statistics Office announced the socio-economic situation for the first 6 months of 2023.
Data from the General Statistics Office shows that in June, the consumer price index (CPI) recorded an increase of 0.27% compared to the previous month and 2% compared to the same period last year. On average, in the first 6 months of the year, the CPI increased by 3.29%.
Looking at the first 6 months of the year, the consumer price index from the beginning of the year to now compared to the same period last year has tended to decrease gradually. It can be seen that inflation is cooling down.
Despite positive news, the stock market session on June 29 showed a lot of pessimism. Right from the beginning of the session, selling pressure appeared quite early. Red quickly spread across the electronic trading board.
Although the latest data from the General Statistics Office shows that inflation has cooled down, investors still rushed to sell stocks in the stock market session on June 29. Illustrative photo
Selling pressure appeared in almost all industry groups right from the beginning of the stock session on June 29, causing the VN-Index to continuously lose points, falling close to the 1,130 point area.
According to statistics from VCBS Securities Company, the securities and steel stocks suffered the greatest downward pressure with a decrease of approximately 2%. In addition, the red color from more than 20 large-cap stocks in VN30 also created a negative premise, weighing on the general index of the stock session on June 29.
Closing the stock market session on June 29, VN Index decreased by 12.96 points, equivalent to 1.14% to 1,125.39 points; VN30-Index decreased by 15.83 points, equivalent to 1.39% to 1,125.29 points.
The entire floor recorded 361 stocks decreasing in price, only 84 stocks increasing in price and 35 stocks remaining unchanged. There were 907 million shares, equivalent to 17,348 billion VND successfully transferred.
Profit-taking activities also took place on the Hanoi Stock Exchange, causing the indices to sink into the red.
At the close of the stock market session on June 29, the HNX-Index decreased by 2.77 points, equivalent to 1.2%, to 227.48 points; the HNX30-Index decreased by 8.31 points, equivalent to 1.9%, to 428.45 points. The entire floor had 104 million shares, equivalent to 1,823 billion VND, successfully transferred.
Apec stocks hit the floor for the fourth consecutive session
The stock in the spotlight of the stock market on June 29 was still Apec stock. At the end of the session, API of Asia - Pacific Investment Joint Stock Company hit the floor, down 900 VND/share to 8,400 VND/share, marking the 4th consecutive floor-drop session with a sharp drop in trading value from 2.6 billion VND in the previous session to only 713 million VND.
On the electronic trading board, the API has millions of shares left to sell at the floor price and the remaining buy side is completely empty. That shows that investors are fleeing the API and no one wants to “buy the bottom”.
Another code in the Apec family also had its fourth consecutive floor price drop. That is APS of Asia - Pacific Securities Joint Stock Company. At the end of the session, APS decreased by VND1,000/share to VND9,600/share. IDJ of IDJ Vietnam Investment Joint Stock Company decreased by VND900/share to VND8,900/share.
It can be seen that Apec stocks have simultaneously hit the floor for 4 consecutive sessions after the Investigation Security Agency - Hanoi City Police decided to prosecute the criminal case of "Stock market manipulation occurring at Asia - Pacific Securities Joint Stock Company, Asia - Pacific Investment Joint Stock Company and IDJ Vietnam Investment Joint Stock Company.
In the context of the stock market session on June 29 being immersed in red, VCBS was quite cautious in commenting. According to VCBS, the market is completely likely to have rebound sessions in this area, but VCBS still maintains the view that investors should reduce their portfolios and maintain a cautious mindset instead of disbursing early to catch the bottom.
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