Ho Chi Minh Times

Saturday, Dec 14, 2024

Vietnam Stock Market Shows Cooling Momentum Amid Decreased Liquidity

Liquidity Falls to Three-Week Low While Foreign Investors Maintain Net Buying Trend
Vietnam's stock market saw a slight decline on Wednesday as liquidity dropped to a three-week low, with the VN-Index closing at 1,241.97 points, down 0.01%. The market’s breadth was negative, and total liquidity fell by 14.4%, marking a three-week low of VNĐ11.3 trillion (around US$445 million).

The drop was driven by losses in stocks related to Vin Group, including Vinhomes JSC (VHM), Vingroup (VIC), and PetroVietnam Gas (GAS). However, large-cap stocks like FPT Corporation (FPT) saw gains, helping to offset some of the market's downturn. Foreign investors continued their net buying trend, purchasing over VNĐ354.6 billion on the HoSE.

Analysts from Việt Dragon Securities noted that the market faces resistance at 1,245 points but could find support and potentially rebound, with buying activity expected to focus on stocks with strong cash flow signals.

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