Real estate, construction “save” VN-Index

In the stock market session on October 26, VN-Index stunned investors when it “free-falled” and lost nearly 50 points. The damage was enormous. Therefore, investors entered the stock market session on October 27 with a worried mentality.

The October 27th stock market session unfolded exactly as investors had feared. Red flooded the market with pressure from large-cap stocks. However, ATC was the highlight of the Vietnamese stock market. The turning point came shortly before the ATC session. The demand appeared, helping the VN-Index "turn around" and regain green.

Closing the stock market session on October 27, VN-Index increased by 5.17 points, equivalent to 0.49% to 1,060.62 points; VN30-Index increased by 2.62 points, equivalent to 0.25% to 1,067.57 points.

It can be seen that the mainstay of the stock market session on October 27 was not blue-chips but small and medium-sized stocks. The entire floor recorded 309 stocks increasing in price (10 stocks hitting the ceiling), 66 stocks remaining unchanged and only 165 stocks decreasing in price. Of the 10 stocks hitting the ceiling, most were in the real estate and construction industry.

At the close of the stock market session on October 27, CTD increased by 3,500 VND/share to 54,800 VND/share, DIG increased by 1,350 VND/share to 21,150 VND/share, DXG increased by 1,100 VND/share to 17,400 VND/share, LEC increased by 460 VND/share to 7,070 VND/share,...

Because blue-chips were not the main support, the stock market session on October 27 recorded a decrease in liquidity in both volume and value. The entire Ho Chi Minh City Stock Exchange had only 692 million shares, equivalent to VND13,700/share, down about 38% in volume and 41% in value.

The performance of the VN30 group was also the focus of the stock market session on October 27. While the real estate sector remained weak, banking stocks contributed significantly to helping the VN-Index regain green.

Closing the stock market session on October 27, BID increased by VND 1,450/share, equivalent to 3.58% to VND 42,000/share, SHB increased by VND 250/share, equivalent to 2.49% to VND 10,300/share, ACB increased by VND 450/share, equivalent to 2.13% to VND 21,550/share,...

Not in the bluechip group, but a bank stock closed the stock session on October 27 in purple. That is LPB of LPBank. LPB increased by 1,000 VND/share to 15,300 VND/share.

On the Hanoi Stock Exchange, the indices were more excited. At the close of the stock market session on October 27, the HNX-Index increased by 3.06 points, equivalent to 1.42% to 218.04 points, and the HNX30-Index increased by 10.22 points, equivalent to 2.34% to 447.10 points.

Liquidity on the Hanoi Stock Exchange “evaporated” by nearly half compared to yesterday. Only 85.4 million shares, equivalent to 1,475 billion VND, were successfully traded.

Asian stocks continue sell-off

While VN-Index has recovered, Asian markets are still selling off in the stock market session on October 27.

Asia-Pacific markets saw a broad sell-off, with Australian shares closing at lows not seen in more than a year, while mainland Chinese stocks bucked the trend to end Thursday's session higher.

South Korea's Kospi index fell 2.71% to 2,299.08, its lowest since Jan. 6, while the Kosdaq index fell 3.5% to 743.85, its lowest since Jan. 31.

This comes as shares of South Korean chipmaker SK Hynix fell after it posted a net loss of 2.18 trillion won ($1.61 billion) in the third quarter, compared with a net profit of 1.11 trillion won in the same period a year earlier.

South Korea's gross domestic product grew 0.6 percent in the third quarter from the previous quarter, slightly higher than expected according to a Reuters poll.

Japan's Nikkei 225 fell 2.14% to 30,601.78 and the Topix index fell 1.34% to 2,224.25.

In Australia, the S&P/ASX 200 index closed down 0.61% at 6,812.30, hitting its lowest level since late October 2022.

Hong Kong's Hang Seng index fell 0.11% in the final minutes of trading, while China's benchmark CSI 300 index was the only index in positive territory, up 0.28% to 3,514.14.