Selling pressure continued to intensify sharply this morning (August 2nd). The VN-Index breached the 1,220-point mark, losing 13.21 points, or 1.08%, to close at 1,213.75 points; the HNX-Index fell 2.37 points, or 1.03%, and the UPCoM-Index dropped 0.77 points, or 0.83%.
Stock prices fell across all three exchanges, although a sell-off was not triggered. On the HoSE, 347 stocks declined, but only 3 hit the lower limit; 72 stocks increased. On the HNX, 107 stocks declined and 40 increased; on the UPCoM, 177 stocks declined and 93 increased.
The VN30 basket saw 25 stocks decline and only 5 gainers: POW, VNM, GVR, STB, and HPG. Vingroup stocks experienced sharp corrections, with VHM falling 2.6% to 35,500 VND; VIC down 2.3% to 41,150 VND; and VRE down 2.2% to 17,800 VND.
Resource sector stocks were a bright spot in the market this morning (Source: VNDS).
Meanwhile, LDG was the only real estate stock to hit its lower limit on the HoSE. NVT and QCG avoided hitting their lower limits, although their declines remained significant. NVT fell 6.8%, while QCG dropped 5.7%. Other real estate stocks also experienced sharp declines: TDH fell 3.9%; PDR fell 3.4%; SZC fell 4.8%; and DIG fell 2.6%.
In the construction and materials sector, HBC only saw a slight decrease of 0.5%. VNE hit the floor price, NHA fell 5.8%; HHV fell 3.7%; DPG fell 3.5%; FCM fell 3.1%; and CTR fell 3.1%.
Stocks in the basic resources sector, especially the steel industry, which had been heavily sold off in recent sessions, are currently not hitting the floor limit. SMC escaped the floor limit, narrowing its losses to 2.6%; TLH fell 3%. Even some stocks turned green, with HPG and NKG both rising slightly by 0.2%; HSG increased by 1.2%; and VCA rose by 5.2%.
Most financial stocks continued to decline further: TCI fell 5.6%; VDS fell 4.4%; HCM fell 2.3%; APG fell 2.3%; VND fell 2%; ORS fell 2%. Except for STB which rose slightly by 0.5%, other bank stocks also entered a correction phase.
Therefore, it's advisable to hold onto stocks and not sell at any cost, but those holding cash are also very cautious and haven't bought aggressively yet. This could be because in recent sessions, short-term investments within the T+ period have been very risky and prone to losses, causing those holding cash to hesitate and wait for lower prices before confidently investing.
Accordingly, market liquidity remained sluggish at a low level. Trading volume on HoSE reached 293.04 million shares equivalent to VND 6,660.25 billion; on HNX it was 23.88 million shares equivalent to VND 416.91 billion; and on UPCoM it was 22.29 million shares equivalent to VND 257.11 billion.
Source: https://dantri.com.vn/kinh-doanh/co-phieu-giam-la-liet-gioi-dau-tu-van-giu-chat-tien-20240802131013856.htm
