VN-Index curbs rising trend as investors dump pillar stocks

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The selling pressure suddenly increased in the group of pillar stocks when the VN-Index surpassed 1,260 points, creating a sell-off wave in the remaining stocks in the VN30 basket.
Signs of correction appeared quite early when selling orders were pushed up strongly among large-cap stocks. In the opposite direction, the reciprocal cash flow quickly poured into the market to help the VN-Index reverse after the ATO session. There was a time when the index easily surpassed 1,260 points.

However, as soon as the VN-Index was about to pass this point, profit-taking orders in the group of large-cap stocks were placed heavily. On the other side of the electric board, although the buying order did not show any sign of weakening against the supply pressure, it was not strong enough to keep the VN-Index to stay green at the end of the trading session.

Closing the trading session on August 10, the VN-Index dropped 2.35 points, or 0.19 percent, to 1,256.5 points. The difference between gainers and losers was not too large, with 246 losers, 210 gainers, and 77 unchanged stocks.

However, the red color dominated the VN30 basket with 24 losers and six gainers, including VNM, VHM, SAB, MWG, MSN, and KDH.

The negative impact on the index was caused by VIC, GAS, VJC, BVH, CTG, HPG, SSI, STB, TPB, TCB, and VCB.

The most surprising stock today was ROS, which increased 4.8 percent to VND2,600 per share. The information that ROS was suspended from trading on the HoSE as of August 12 triggered a sell-off wave, dragging down the stock price from VND3,200 per share to only VND2,300 per share, or a decrease of up to 28 percent.

The liquidity of the HoSE unexpectedly fell below VND15 trillion. Specifically, 651.7 million shares were transferred, worth VND14.39 trillion.

Meanwhile, the other two indexes, HNX-Index and UPCoM-Index, closed higher today. Specifically, the HNX-Index gained 2.13 points, while the UPCoM-Index inched up 0.25 points.

By Hai Ho – Translated by Bao Nghi

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