In the last trading session of the week, July 19, the stock market recorded very strong selling pressure after a previous volatile session.

In the early morning of July 19, the market received positive signals after the VN-Index reversed the trend at the end of the previous trading session thanks to the price increase of some key stocks in the banking group, including BIDV Bank (BID) and Vietinbank (CTG).

The breakthrough of BID shares helped the VN-Index not only avoid a session of more than 13 points decrease on July 18 but also increase nearly 6 points at closing.

In the session of July 19, positive signals only appeared in the first half of the morning session. Selling pressure then increased rapidly, pulling the VN-Index down. The VN30 pillar stocks were sold quite heavily with most stocks decreasing in price.

In the afternoon session, strong selling pressure pulled the market down, VN-Index finally fell 9.66 points (-0.76%) to 1,264.78 points. HNX-Index also fell more than 0.8%. In the whole market, there were 517 stocks decreasing in price and 260 stocks increasing in price. Trading volume increased.

Foreign investors returned to net sell more than 380 billion VND on HOSE and more than 39 billion VND on HNX.

Banking stocks were divided. Many stocks that had increased in points the day before fell again. BIDV fell by VND800 to VND47,700/share, exactly the same as the increase in the previous session. Vietinbank (CTG) also fell.

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Vingroup shares rise again.

Many other pillar stocks also fell in price, such as Hoa Phat Group (HPG) of billionaire Tran Dinh Long, FPT Group of Mr. Truong Gia Binh, VietJet (VJC) of female billionaire Nguyen Thi Phuong Thao, Vinamilk (VNM) of Ms. Mai Kieu Lien...

In the session of July 19, the two stocks Vingroup (VIC) and Vinhomes (VHM) of Vietnam's richest billionaire Pham Nhat Vuong unexpectedly went against the trend and increased points. Vinhomes increased by 400 VND to 37,850 VND/share, while Vingroup increased by 200 VND to 40,750 VND/share.

Billionaire Pham Nhat Vuong's shares rose in the last session of the week amid many fluctuations in the world and in the country and Vingroup's modest profits in the first half of the year. According to the report, Vingroup's after-tax profit was more than VND2,000 billion in the first 6 months. Net revenue was more than VND65 trillion.

In the world, the price of gold increased sharply to a historical peak of over 2,483 USD/ounce, but by the afternoon of July 19 (Vietnam time), it plummeted to below 2,410 USD/ounce. The price of SJC gold bars was suddenly adjusted by 4 state-owned banks and SJC Company to increase by 3 million VND/tael to 80 million VND/tael (selling price) after more than a month of keeping it below 77 million VND/tael.

The USD has fallen rapidly but is recovering. The USD/VND exchange rate has also fluctuated.

In the US, the presidential election is still hot, and is believed to have a great impact on the international financial market. The Republican Party has "closed the book". Former US President Donald Trump officially became the Republican candidate for the US presidency after being shot in Pennsylvania while campaigning on July 13.

In China, the 3rd Central Conference has just ended with many economic goals set.

Recently, domestic investors have been quite worried as foreign investors have been selling off stocks heavily. The net selling value since the beginning of the year has reached over VND60,000 billion, erasing the achievements of the previous decade.

Foreign investors sold strongly despite the positive performance of Vietnam's economy in the first 6 months of the year. Vietnam's digital economy grew the highest in ASEAN for 2 consecutive years. In the third quarter, GDP increased by 6.93%, exceeding the forecasts of most major organizations and was the highest growth in the second quarter in the past 13 years (except for the special period of 2022, when it increased by 7.99% after recovering from the low base of the Covid-19 period). Average growth in the first 6 months of 2024 reached 6.42%.

A series of records were set. Exports in the first 6 months reached more than 190 billion USD, up 14.5% over the same period last year, surpassing the record of 185 billion USD set in the first half of 2022. Disbursement of foreign direct investment (FDI) reached a new record of 10.84 billion USD, up 8.2% over the same period last year...

In the stock market, another noteworthy point is the real estate group. This group has recently decreased sharply in many consecutive sessions. Names such as Construction Development Investment Joint Stock Corporation (DIG), Novaland (NVL) ... have decreased sharply.

Investors are closely monitoring and assessing the impact of the Land Law (effective from August 1) and several other laws on real estate stocks in the coming time.

Billionaire Pham Nhat Vuong suddenly has an additional 2,500 billion, many tycoons are at their richest . Billionaire Pham Nhat Vuong's assets suddenly increased sharply, while many Vietnamese tycoons recorded stocks reaching historical peaks even though foreign investors still net sold billions of dollars, the market was quite quiet.