Vietnamese stocks slipped on Thursday, with banking and securities shares extending falls and steel stocks tumbling, pressuring the indices amid a strong selling force.
The stock market rose on Wednesday morning, backed by strong gains in a number of large-cap stocks. However persistent selling force, especially in the banking sector, weighed on market sentiment.
The market’s upward trend weakened during the afternoon trading session on Tuesday with the market experiencing drops in large-caps' prices, but gains in real estate stocks pushed up indices.
A new price level is gradually being established amid the current sideways accumulation trend of the VN-Index and it is unlikely that a new downtrend will appear in the short term, said brokerages.
Vietnamese markets ended the week on a positive note thanks to blue-chips but the at-the-closing (ATC) session witnessed strong volatility during the portfolio restructuring of two ETFs, V.N.M and FTSE.
The euphoria among young investors in the last weeks seems to be dying down now, with many F0 investors realising that the stock market is no longer an easy place to reap profits.
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