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Vietnam’s stock market closed a volatile session on March 4. A sharp intraday sell-off drove the VN-Index down by as much as 47 points before a dramatic late rebound. Despite the swings, Vietnamese stocks finished the session higher by 5 points, while many Asian markets also saw large fluctuations, with several exchanges triggering circuit breakers after deep declines.
Market participants saw a rapid reversal after the index retreated toward a key psychological support area. According to Nguyen Anh Khoa, Chief Analyst at Agriseco, the deep correction on March 4 helped ease a significant portion of the selling pressure that had built up following the prior drop. This, in turn, created conditions for “bottom-fishing” demand to return.
The rebound appeared to gain traction as the VN-Index moved back into the 1,770–1,800 point support zone, prompting buying interest from both short-term and medium-term funds positioned to deploy capital at major support levels.
Beyond the index level, many large-cap stocks also fell back toward technical support areas. These included the MA50 moving average and price bases formed during earlier consolidation periods. The analyst said this reduced the downside risk at those levels and increased the appeal of large-cap names, supporting bottom-fishing activity.
The “deep drop followed by a rapid rebound” pattern is seen as a supply-demand test. The VN-Index’s quick reclaim of an important support zone suggests that selling pressure at lower levels has weakened. At the same time, bottom-fishing money appears ready to participate when the index retreats again to strong support.
However, the expert cautioned that the rebound is still largely technical. Volatility in upcoming sessions cannot be ruled out, particularly as upward moves may face pressure from “stuck” shares at higher prices that may trim positions during recoveries. The index’s direction also remains heavily influenced by heavyweight stocks, while money flow across sectors has not yet been evenly distributed.
External factors—such as geopolitical tensions, commodity price swings, or foreign selling—remain potential drivers of domestic investor sentiment.
In terms of strategy, the analyst advised taking advantage of bottom-fishing opportunities while limiting leverage. With conditions still volatile, a recovery after sharp declines may require more time to establish a new balance before a clearer trend emerges.
The VN-Index is likely to trade within a wide range, with alternating gains and losses as investors wait for more stable macroeconomic and international conditions. Liquidity is expected to continue differentiating, with attention likely to concentrate on sectors benefiting from the current environment, including oil and gas, fertilizer, and shipping.
Investors may also monitor sectors expected to report positive first-quarter results, including banks, retail, construction, and materials.
Source: Nhịp sống thị trường
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