The net selling pressure from foreign investors, as well as domestic ETF funds, has been a factor influencing the market. After VnIndex pen...
The net selling pressure from foreign investors, as well as domestic ETF funds, has been a factor influencing the market. After VnIndex penetrated 1,000 points, many pessimistic forecasts are gradually emerging.
The trading session of the week (18/6) started quite negative with strong selling pressure on the market. VnIndex,
after a strong recovery from the end of May, has returned to its
uptrend and the index once again penetrated 1,000 points and closed at
987.34 points.
The downside of the market is not just in a few stocks but across the board. In HoSE alone, the number of losers was up to 217, nearly 3 times the number of advancers. Hot sectors such as securities, banking, real estate led the downward momentum and if the VIC and VHM pair did not hold, the market would fall further.
Not only the sharp drop in the score but the market liquidity is also the point unless continued to remain low. Accordingly, the transaction value on the HoSE reached only 3,700 billion, 9% lower than the average of the last 10 sessions. The market plunged with declining liquidity, showing that cash flow was still not attractive at the bottom and this is quite risky now.
The second time VnIndex punctures 1,000 points in 2018
What caused the market to fall deep?
In the first trading session of the week, the market received unfavorable information from the international market as trade tension between the US and China continued to increase. These two powers have imposed a $ 50 billion tax on each other's goods and, if this lasts, will have a significant impact on global trade as well as economic growth.
A few days ago, the Fed decided to raise the second interest rate in 2018 and according to many forecasts will have two more interest rate increase in 2018. It can be said that the process of raising interest rates of the Fed is taking place with speed This is quite fast, which affects not so much the flow of investment capital in emerging markets. According to Bloomberg, foreigners are currently experiencing the strongest "run" in emerging markets in Asia since the crisis in 2008.
In the country, the unpredictable forecasts of economic growth in the second quarter and especially in the second half of the year will not maintain the 7.38% mutation as in the first quarter also significantly affect the market psychology. school.
On the stock market, the strong net selling pressure of foreign investors is a barrier to the market recovery. If the previous trading week, many reasons for the net selling pressure were from ETFs, then at the end of the review period, foreigners still net sold more than 500 billion dong. Obviously, selling force is not only from ETFs but closed-end funds are selling strongly on Vietnam stock market.
In addition, VFMVN30 ETF internal fund has been continuously withdrawn fund certificates since the beginning of June and no signs of suspension are making the market more gloomy.
ETF intraday net withdrawal from early May to present
1,000 points, VnIndex will "lost" where?
In the market commentary, HSC said that the low trading value (compared to previous months) and the continuous selling pressure from foreign investors made most investors hesitate. The support level of VnIndex is at 981 points (MA 200 days) and 916-920 (bottom from the beginning of the year). Technical analysis is not really bright in recent times with the lower peak above the previous peak. Given the current low interest of investors in the market, it is likely that the market will fall further.
This period is also a low-information area where there will be very little business information until the 1-H results are announced in the next 3-4 weeks. Accordingly, the stock price could hardly increase in the short term when the general market adjusts. Psychologically, the market dropped sharply in the first session of the week is not good.
In general, VSCIndex has fallen below the psychology level of 1,000 points, ending 9 sessions of the peak from 1.015 to 1.039 points. The selling pressure increased at the end of trading while the volume increased slightly indicating the selling pressure was still present when the index approached SMA200 at 980 points in the next session. Index performance is at a sensitive stage, with the probability of falling below SMA200 and back to test the bottom of 916 points dominate.
The downside of the market is not just in a few stocks but across the board. In HoSE alone, the number of losers was up to 217, nearly 3 times the number of advancers. Hot sectors such as securities, banking, real estate led the downward momentum and if the VIC and VHM pair did not hold, the market would fall further.
Not only the sharp drop in the score but the market liquidity is also the point unless continued to remain low. Accordingly, the transaction value on the HoSE reached only 3,700 billion, 9% lower than the average of the last 10 sessions. The market plunged with declining liquidity, showing that cash flow was still not attractive at the bottom and this is quite risky now.
The second time VnIndex punctures 1,000 points in 2018
What caused the market to fall deep?
In the first trading session of the week, the market received unfavorable information from the international market as trade tension between the US and China continued to increase. These two powers have imposed a $ 50 billion tax on each other's goods and, if this lasts, will have a significant impact on global trade as well as economic growth.
A few days ago, the Fed decided to raise the second interest rate in 2018 and according to many forecasts will have two more interest rate increase in 2018. It can be said that the process of raising interest rates of the Fed is taking place with speed This is quite fast, which affects not so much the flow of investment capital in emerging markets. According to Bloomberg, foreigners are currently experiencing the strongest "run" in emerging markets in Asia since the crisis in 2008.
In the country, the unpredictable forecasts of economic growth in the second quarter and especially in the second half of the year will not maintain the 7.38% mutation as in the first quarter also significantly affect the market psychology. school.
On the stock market, the strong net selling pressure of foreign investors is a barrier to the market recovery. If the previous trading week, many reasons for the net selling pressure were from ETFs, then at the end of the review period, foreigners still net sold more than 500 billion dong. Obviously, selling force is not only from ETFs but closed-end funds are selling strongly on Vietnam stock market.
In addition, VFMVN30 ETF internal fund has been continuously withdrawn fund certificates since the beginning of June and no signs of suspension are making the market more gloomy.
ETF intraday net withdrawal from early May to present
1,000 points, VnIndex will "lost" where?
In the market commentary, HSC said that the low trading value (compared to previous months) and the continuous selling pressure from foreign investors made most investors hesitate. The support level of VnIndex is at 981 points (MA 200 days) and 916-920 (bottom from the beginning of the year). Technical analysis is not really bright in recent times with the lower peak above the previous peak. Given the current low interest of investors in the market, it is likely that the market will fall further.
This period is also a low-information area where there will be very little business information until the 1-H results are announced in the next 3-4 weeks. Accordingly, the stock price could hardly increase in the short term when the general market adjusts. Psychologically, the market dropped sharply in the first session of the week is not good.
In general, VSCIndex has fallen below the psychology level of 1,000 points, ending 9 sessions of the peak from 1.015 to 1.039 points. The selling pressure increased at the end of trading while the volume increased slightly indicating the selling pressure was still present when the index approached SMA200 at 980 points in the next session. Index performance is at a sensitive stage, with the probability of falling below SMA200 and back to test the bottom of 916 points dominate.
Source: Tang kiem son trang
