Vietnamese stocks traded cautiously on August 8 and fell as soon as they opened. However, the decline in the morning session was not significant due to weak selling pressure.

However, by the early afternoon session, the pressure to sell stocks suddenly increased. In particular, the group of 30 large stocks (VN30) was sold very strongly, causing this group to have 19 codes in red. Specifically, TCB codes decreased by 4.3%, SSI decreased by 1.9%, MBB decreased by 1.2%, VCB decreased by 0.4%, VNM decreased by 1.4%...

This session, foreign investors continued to net sell on the HoSE, with a value of VND 1,165 billion. Accordingly, foreign investors sold heavily at VJC (-VND 334 billion), VHM (-VND 315.6 billion), TCB (-VND 213.5 billion), HPG (-VND 136.8 billion), VPB (-VND 72.6 billion) ...

At the end of the session, the VN-Index closed at 1,208 points, down 7.5 points, equivalent to 0.6%.

With poor performance, some groups of stocks lost steam and retreated to the red zone, the differentiation between stocks was quite clear. The public investment and textile groups traded quite prominently and created a vibrant market. On the contrary, the banking, steel, real estate groups... had poor performance, negatively affecting the market.

According to Dragon Capital Securities Company (VDSC), the VN-Index faced resistance when approaching the 1,220 point zone and then retreated.

"The market will continue to be in a tug-of-war state when entering the next trading session, but the pressure on stock supply is still latent" - VDSC forecasts.

Meanwhile, Vietcombank Securities Company said that although the pressure to sell stocks is still quite strong, liquidity has not increased suddenly. Therefore, in the next session, the market may accumulate points at the 1,200-1,220 point range of the VN-Index.

"Investors can select stocks with bottom prices in some groups and industries with growth expectations related to public investment, petroleum..." - VCBS recommends.