Market Trends: The burden on the giant ’s shoulders


 Vietnam stock market witnessed another record in liquidity on Wednesday trading session, VN Index reversed to drop, then narrowed down at the end thanks to banking stocks.  At the end, VN Index dropped 8.16 points, or -0.56% and closed at 1,444.3 points. Liquidity set a new peak as the trading value reached VND 43,208 bn, the volume reached 1,505mn shares traded. Foreign investors reversed to a net buying of VND 282 bn.

 On the top of the list having positive impacted on VN Index was Vingroup duo including VIC (-0.52%) and VHM (-2.47%), followed by GAS (-1.32%). Meanwhile, banking stocks played a pivotal role in supporting the market, leading the group to help the index narrow the drop were TCB (+4.07%) and BID (+2.62%), VRE (+2.76%) is a rare real estate stock that has gained and is in this group.  Among industries, banking stocks had outstanding performance, market capitalization increased by more than +2.6%. All stocks gained, in which, some reached the limit such as OCB (+6.86%), LPB (+6.78%).

 Technically, VN Index corrected and closed below the 50% Fibonacci resistance at 1,450, while the record liquidity was on the headline, making the situation not seem worse. If the correction keeps going, the nearest support level is the old peak at 1,420. The market correction is inevitable. However, in the long term, upcoming monetary and fiscal policies will stimu


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