The uptrend has slowed down, accumulation is expected to continue, waiting for cash flow to circulate.

Global stock markets are showing signs of recovery, especially the US market has rebounded, ending a four-week losing streak. However, the two main indices S&P 500 and Nasdaq are still in a correction since the beginning of the year. Meanwhile, the Asian market is still showing its appeal as a haven amid the escalating trade war.

The domestic stock market had a week of stagnation in both points and liquidity. This was the first week of decline for the VN-Index after 8 consecutive weeks of increase. Specifically, the VN-Index decreased in 4/5 sessions last week, closing the week at 1,321.88 points, down -4.27 points, equivalent to a decrease of -0.32% compared to the previous week.

The VN30-Index also decreased by -0.63% compared to the previous week. Meanwhile, Midcap stocks increased by +0.12% and Smallcap stocks decreased by -0.77%.

The market was strongly differentiated with the increase mainly concentrated in the seaport group (+1.29%), electricity production and distribution (+0.98%), and Vingroup group (+0.86%). On the contrary, many industries decreased quite sharply, led by food (-2.86%), technology (-2.36%)...

Not only did the scores stagnate, the liquidity of the stock market last week also declined quite sharply. However, liquidity remained at a fairly good level. According to statistics, the average total transaction value of the entire market last week reached VND21,760 billion/session, down -12.3% compared to the previous week, in which the order matching value also dropped -14.8% to VND19,161 billion/session.

If calculated from the beginning of March until now, market liquidity has increased by +31.74% compared to February, however, this level is still -21% lower than the same period. Accumulated from the beginning of the year, the liquidity of the entire stock market is still quite low, reaching 18,072 billion VND, down -14.3% compared to the average level in 2024.

Foreign investors' transactions were not positive, contributing to creating more selling pressure on the market. Specifically, in the whole market, foreign investors net sold more than -4,317 billion VND last week. Foreign investors' net selling pressure last week focused on large stocks such as: FPT (-1,937 billion VND), TPB (-262 billion VND), SSI (-246 billion VND)... Meanwhile, foreign investors net bought a lot of stocks: VCI (+378 billion VND), VCB (+151 billion VND), NAB (+134 billion VND)...

If calculated in the past month, FPT and TPB are still the two codes that foreign investors net sold the most -3,815 billion VND and TPB -1,143 billion VND). Accumulated from the beginning of the year, foreign investors have net sold -23,906 billion VND.

The market's P/E ratio has increased from 13.5 times in mid-February to 14.5 times, but is still 14.5% lower than the 5-year average. This is the second time the P/E ratio has been lower than the average since late October and early November 2024, when the VN-Index was at 1,250 points.

Source: https://nhandan.vn/thi-truong-chung-khoan-tuan-moi-24-283-mach-tang-chung-lai-tich-luy-du-bao-con-tiep-tuc-cho-dong-tien-luan-chuyen-post867222.html