Stock market recovers after sharp decline

On the Ho Chi Minh City Stock Exchange, in the morning session, the market was green but less positive as the number of stocks with decreasing prices dominated.

From 10am, selling pressure increased, causing the market to turn red, especially at nearly 11am, when the index representing the floor dropped by nearly 40 points. After that, bottom-fishing pressure increased, helping the market to slow down.

At lunchtime, VN-Index stopped at 1,633.22 points, down 20.98 points.

In the afternoon session, the bottom-fishing force gradually increased, helping the VN-Index continue to slow down and increase points. Closing the market, the VN-Index stopped at 1,664.36 points, up 10.16 points (0.61%). This is the highest closing level of the market ever. The VN30-Index increased by 18 points (0.99%), to 1,828.46 points.

However, the market was in a state of “green on the outside, red on the inside” because stocks that decreased in price were overwhelming, 3 times more than those that increased in price (259 stocks and 83 stocks). In the VN30 group, the number of stocks that increased and decreased in price were 12 stocks and 17 stocks, respectively.

Most industry groups decreased in points; in which, insurance, telecommunications services, software and services, hardware and equipment were the industries that decreased by more than 2%.

Real estate, vehicles and components, banking, energy, and essential aviation trade are all in the green, with real estate performing the best.

In this group, VIC and VHM provided the strongest support to the market, contributing 5.7 points and 5.15 points respectively. In addition, the banking group also actively supported the market: VPB contributed 4.65 points, TCB (2.2 points), LPB (2.19 points).

The selling pressure is high but the bottom-fishing demand is not small, so market liquidity is high. The entire floor has 68,000 billion VND changed hands.

Foreign investors were net sellers. This group bought nearly 5,947 billion VND and sold over 6,352 billion VND.

On the Hanoi Stock Exchange, nearly VND5,000 billion worth of shares were traded. At the end of the session, the HNX-Index closed at 283.73 points after falling 2.72 points (-0.95%); the HNX30-Index fell 6.54 points (-1.03%), to 628.17 points.

Source: https://hanoimoi.vn/thi-truong-chung-khoan-hoi-phuc-ngay-sau-khi-giam-manh-713340.html