Right at opening time, domestic stocks adjusted when the market recorded some unsupportive news. Last night, Dow Jones closed down 375 points after the GDP report. Data just released on April 25 showed that the US economy slowed down in the first three months of 2024. Market attention focused on the US Federal Reserve’s March inflation measure. (FED) announced tonight, as a basis for forecasting the prospect of cutting interest rates
Domestically, the news that KRX continued to delay appointments also disappointed the market. The State Securities Commission did not approve the operation of the KRX system on May 2 for many reasons given. Regarding the preparation of members, according to the State Securities Commission, there is currently no official document from members on their readiness to connect to the KRX information technology system, as well as their ability to provide services. Securities services for investors after connection.
The securities group reacted most negatively to this change, while previously it had “raced bare” each time it received new developments and plans to put KRX into operation. Although the market recovered later, the stock market was still in the red. More than 20 stocks dropped in price.
However, the influence of the securities group on the main index is not too large, in the context of low liquidity, capitalization is also not high.
Contributing an important push for VN-Index to go up is the increasing momentum from VIC.
Contributing an important push for VN-Index to go up is the increasing momentum from VIC. Vingroup shares increased 5.8%, maintaining the upward momentum after the company held a shareholders’ meeting, with a notable answer from Mr. Pham Nhat Vuong about cash flow, Vinfast.
Although the VN30 group is in a state of divergence, codes leading the increase such as HDB, SHB, GVR, MWG, PLX, TCB… still significantly support the VN-Index. On the contrary, the group of stocks that lost points such as BID, MSN, GAS, CTG, HPG… are not too negative. No stocks caused VN-Index to lose more than 1 point.
Before the 5-day holiday, market liquidity continued to be gloomy. HoSE order matching value is more than 14,000 billion VND.
At the end of the trading session, VN-Index increased 4.55 points (0.38%) to 1,209.52 points. HNX-Index decreased 0.75 points (0.33%) to 226.82 points. UPCoM-Index increased 0.43 points (0.49%) to 88.76 points. Foreign investors net bought again 217 billion VND, focusing on MWG, PVS, VCB, MSN, KDH…
Closing today’s session, the market entered a 5-day holiday from April 30 to May 1. Vietnam Stock Exchange (VNX), Ho Chi Minh City Stock Exchange (HoSE), Hanoi Stock Exchange (HNX), Vietnam Securities Depository and Clearing Corporation (VSDC) take a break 5 day swap. Trading on the stock exchange will therefore also stop during the above holidays.
On the make-up day on Saturday (May 4), stock exchanges and VSDC do not carry out transactions, clearing and settlement activities.
Viet Linh
