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Top VinGroup stocks VIC, VHM, and VPL were the biggest drags on the market, dragging the VN-Index down by more than 17 points. The VN-Index chart today mostly traded below the reference. In the early session, the market fell about 5 points before quickly rebounding to around 1,880 points. However, later the market deteriorated, sliding toward the 1,860 level. In the afternoon session, selling pressure intensified with the number of decliners more than doubling the number of advancers. The index at times fell nearly 27 points. The market then fluctuated before VN-Index closed above 1,853, still down more than 17 points from the reference. This marked the largest decline in two weeks. HoSE had 188 decliners, while 135 stocks rose. The balance between the two sides was not wide, indicating subdued market breadth. Two VinGroup heavyweights, VHM and VIC, led the downside, contributing nearly 7 and about 4 points respectively. Vinhomes stock had two consecutive sessions of corrections as it approached record levels. VHM fell 5.2% to 141,200 dong per share today. Meanwhile, the stock of Vingroup fell 1.1% to 212,100 dong after several days of gains. Both stocks led market liquidity, with turnovers of 871 billion and 910 billion dong, respectively. The profit-taking pressure targeted these two stocks after a long rally, with the group alternately supporting the market's uptrend. Looking at the order-matching data, about 62% of VHM's orders came from sellers, while VIC saw nearly 48%. Additionally, VN-Index faced a sizable drag from VCB as this stock contributed nearly 4 points to today's decline. Vietcombank fell 3.5% to 60,600 dong per share, with liquidity above 730 billion dong, ranking fifth in the market. During the session's reversal into a correction, total trading value on HoSE also fell sharply by about 9.9 trillion dong to around 19.3 trillion dong. This was the lowest liquidity in more than two weeks, indicating growing caution. Today's market was also pressured by foreign investors, net selling about 1.935 trillion dong, the fifth straight session. A string of stocks were sold off heavily, such as FPT (over 416 billion dong), ACB (over 278 billion dong), VCB (over 240 billion dong), VHJM (over 132 billion dong) or MSB (over 104 billion dong). In spite of fluctuations today, this week the VN-Index rose by more than 36 points, marking the fifth consecutive week of gains for equities. The index remains heavily influenced by blue chips. Liquidity has not found a clear direction and remains polarized. In a pre-market briefing earlier today, VPBank Securities (VPX) said the market shows a misalignment between the index and stocks, suggesting liquidity has not spread evenly. Overall sentiment remains cautious as selling pressure broadens. Therefore, investors should curb chasing strategies. Instead, they should watch reactions at resistance levels. Additionally, investors could reduce exposure to stocks that have risen sharply and wait for clearer opportunities as liquidity improves.
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