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From the opening of the session, the market began on a negative note. Inflows later helped the VN-Index move above the reference in the mid-morning, but selling pressure unexpectedly increased and the index briefly slid more than 20 points. In the afternoon, buying interest returned, but it only managed to narrow the losses.
At the close, the VN-Index fell 1.74 points to 1,806.2. Meanwhile, the HNX-Index rose 10.58 points to 330.2, and the UPCOM-Index gained 0.42 points to 127.17.
The real estate sector became the market's biggest drag. Real estate stocks faced selling pressure after information that Vingroup would not plan further land acquisitions nationwide in the near term. This prompted many investors to lock in profits in the morning, dragging the market lower.
Bottom-fishing demand appeared toward the end of the session, significantly narrowing losses for the sector. By the close, VIC fell 1.03%, VHM fell 1.1%, and VRE fell 1.75%.
Many other real estate stocks also eased, with KDH down 1.69%, NVL down 1.11%, PDR down 1.3%, and NLG down 1.25%. In contrast, some codes remained green, including BCM up 2.25%, DXG up 0.38%, and KBC up 0.32%.
Despite weakness in real estate, the banking group helped support the market with several stocks turning positive, such as BID up 2.51%, MSB up 2.98%, CTG up 1.78%, STB up 1.12%, and EIB up 1.18%.
Money also flowed to the industrials group, with GEX up 1.14%, GEE up 2.02%, VSC up sharply 6.86%, BMP up 3.8%, and VGC up 1.27%.
In the airlines sector, movements were mixed: VietJet’s VJC rose 4.28%, while Vietnam Airlines’ HVN unexpectedly fell 6.42%, approaching the floor.
HVN stock drew market attention after two straight days of gains on June 15 and 16, but faced heavy selling late in the afternoon, dragging the price down quickly.
Additionally, many large-cap stocks weighed on the index, including BSR -1.68%, FPT -1.23%, TCB -1.19%, VCI -1.59%, HCM -1.26%, ACB -1.25%, GMD -1.01%, CII -1.11%, and GAS -1.1%.
Foreign investors again posted net selling of more than VND 3,200 billion across the market. VIC was net sold strongly, with a value of more than VND 2,236 billion. Other notable net-sold stocks included FPT with 282.95 billion, VHM with 235.83 billion, TCB with 191.11 billion, and VCB with 179.19 billion.
On the buying side, HPG attracted foreign net buying of over VND 55 billion. Other notable net-buy stocks included SSI with 42.84 billion, SHB with 40.1 billion, and FRT with nearly 39.9 billion.
The June 17 session showed that profit-taking pressure remains after the earlier rebound. In the short term, money is showing strong divergence among sectors, while real estate continues to drag the market down.
