The slight correction in VN-Index continues to test the 1,250-point support level, and the wait-and-see sentiment in the Vietnamese market intensifies

The slight correction in VN-Index continues to test the 1,250-point support level, and the wait-and-see sentiment in the Vietnamese market intensifies

During yesterday's trading day, VN-Index started a fierce game at the support area of ​​1,250 points, and finally closed with a decrease of 4.26 points, falling to 1,258.56 points. This drop, although relatively slight, shows the market's hesitation and uncertainty around this support level. At the same time, HNX-Index performed similarly, falling 1.57 points to 238.79 points, showing the overall weakness of the Vietnamese stock market.

In terms of market width, the trend was negative, with 299 stocks falling, including 4 stocks that hit their daily limit. In contrast, only 168 stocks recorded gains, with 11 hitting their daily limits. In addition, the closing prices of 132 stocks were the same as the reference prices, showing a divergent trend in the market.

In terms of trading volume, the transaction value of the two major exchanges continued to decline. This trend has occurred for the fourth consecutive trading day. The total transaction value dropped to 1,822.122 billion VND, a decrease of 2.8% from the previous trading day, showing that Market participants are cautious and wait-and-see.

Foreign investors showed strong selling movements in yesterday's market, especially in the real estate sector, such as NVL, VHM and DXG stocks, with a total net selling amount of up to 60.747 billion VND. This strong selling could have a somewhat negative impact on market sentiment. However, in the HNX market, foreign investors showed a small amount of buying behavior, with a total purchase of more than 100 million VND, indicating that they still have a certain degree of confidence in certain sectors or stocks.

Although the market has adjusted to a certain extent, the overall movement is still within the accumulation stage of formation, especially the VN-Index has not yet broken through the important 1,250-point support level. The formation of this accumulation phase may provide the market with a solid base to aid in future up cycles, especially targeting a break above the 1,300 resistance level. However, since 1,300 points is a strong resistance level, the market may still experience a period of consolidation and shock.

In the current situation, if VN-Index can successfully hold the support level of 1,250 points, the market has the potential to move towards or even break through 1,300 points. However, if the market fails to maintain this support level, it may further extend the accumulation phase or face the risk of decline in the short term. The next support level may be near 1,150 points.

For more information about real estate projects in Ho Chi Minh City and neighboring provinces, please contact FTT LAND!

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