Investors unexpectedly flee, VN-Index wraps Q2 below 1,200 points

SGGP
While the cash flow has not shown any signs of returning to the market, the selling pressure caused the VN-Index to fall off the milestone of 1,200 points in the last trading session of the second quarter.
Investors unexpectedly flee, VN-Index wraps Q2 below 1,200 points ảnh 1 The market is flooded in red in the trading session on June 30. (Photo: SGGP)
Market liquidity was relatively low in the last trading session of June, especially in the morning session, with the total trading value on the HoSE at just over VND4 trillion. Today’s trading session is recorded as one of the trading sessions with the lowest liquidity since the beginning of the year.

Due to low liquidity, the market was constantly caught in a tug-of-war. Buyers and sellers were still indecisive, so trading was tediously in the market. However, some large-cap stocks, such as VNM, HPG, ACB, and TCB, managed to stay green, so the VN-Index only decreased by nearly 2 points at the end of the morning session.

However, in the afternoon session, especially at the end of the session, the selling pressure suddenly increased sharply, causing most stock groups, such as banking, securities, steel, real estate, and oil and gas, to fall freely. The whole market was covered in red.

Securities stocks reversed extremely quickly, although, in the morning session, this stock group remained in the green. Specifically, VCI, CTS, and BIS sank to the floor; HCM plunged 6.7 percent; VND 6.2 percent; SSI 4.8 percent. Besides, banking stocks also plummeted simultaneously. Among these, stocks of large banks, such as BID, TCB, SCB, and VPB, declined by 3-4 percent. Besides, large-cap stocks also put great pressure on the index. Specifically, BVH collapsed by nearly 5 percent, FPT stumbled by 4.2 percent, and VHM erased nearly 2 percent. Steel stocks HSG and NKG were down by more than 6 percent, and HPG slid by nearly 2 percent. Hence, the VN-Index was pulled down from the 1,200-point mark it regained a few sessions earlier.

Ending the session on June 30, the VN-Index receded 20.49 points, or 1.68 percent, to 1,197.6 points, with 89 winners, 371 losers, and 48 unchanged stocks.

On the Hanoi Stock Exchange, the HNX-Index slashed 4.67 points, or 1.65 percent, to 277.68 points, with 56 advancers, 145 decliners, and 32 unmoved stocks.

Market liquidity increased slightly by 2 percent compared to the previous session but remained at a low level with a total trading value of VND11.92 trillion (US$510.09 million).

By Nhung Nguyen – Translated by Da Nguyet

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