Vietnam stock market continued to move sideways for the 6th consecutive session as the main VN Index fluctuated around the reference level most of the time.
At the end of the session, VN-Index decreased slightly by 0.2 points or -0.01% and closed at 1,395.33. Liquidity declined compared to the previous session as the trading value was only VND 20,344 bn, or 639 mn shares traded. Foreign investors' net selling scale was VND 470 bn.
Selling pressure at high prices on some large-cap stocks making them reverse and affected VN Index. In which, the correction of GAS (-1.72%) and HPG (-1.21%) had the most negative impact, followed by MSN (-1.4%). On the contrary, BID (+0.42%), VJC (+3.05%) and VHM (+0.63%) were supporting pillars with good gain prevent the index from falling deep.
In general, the market replicated the same play as starting quite well then losing the momentum after that in recent session. Besides, big pillars rotated constantly. Steel and oil gas were the two facing correction, while banking tickers came back help the index stay strong.
Technically, VN-Index did not change much, still maintained a sideways trend in a narrow range during the past 6 sessions and ended with a Doji candle. This shows that the buying and selling pressure were so tie and investors are cautious about the movements of the market. Perhaps, the market needs a stronger catalyst to break the current trend.
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