Market Recap - The market sinks into the red


▶ In Wednesday's session, liquidity increased sharply, and two main indexes decreased, showing negative investor sentiment.


▶ At the end of the session, VN-Index decreased 18.25 points, equivalent to 1.63%, reaching 1,103.4 points; HNX-Index decreased 2.92 points (1.27%), reaching 227.11 points. Market liquidity reached VND 21.8 trillion, equivalent to about 1,038 million shares traded. Foreign investors net buy VND 555.1 billion, focusing mainly on STB and PVD. 


▶ Technical perspective: The market officially broke MA 200 despite strong demand at the end of the session. With this downward momentum, the market is highly likely to return to the 1,050 area (support area accumulated during the first 5 months of 2023). The STOCH RSI indicator has cut the signal line quite deeply but has not yet entered the oversold area, showing that the market still has room for further decline. The market's immediate rebound will take quite a while because investors need time to stabilize their psychology.

Thao Nguyen

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