The market continued going down on October 29 with strong selling pressure from many pillars. The matched liquidity on both exchanges declined compared to the previous session and was lower than the 20-day average with a trading value of 8,619 billion dong.
Foreign investors still saw a negative trade when they net sold 345.7 billion dong, in which, MSN still saw a net withdrawal of 361 billion dong.
According to Bao Viet Securities (BVSC), the VN-Index is likely to still face with downside risk and might retreat to testing the support zone of 895-905 points in the next few sessions.
The market is likely to continue to recover in the next session, but Yuanta Vietnam Securities (YSVN) assesses that this is only a very short recovery phase when the decline is not enough to attract short-term demand to return.
Some notable international news
At the close of October 29, the Dow Jones, Nasdaq and the S&P 500 gained. Dow Jones increased 139.16 points, or 0.52%, to 26,659.11 points. The S&P 500 increased 39.08 points, or 1.19%, to 3,310.11 points. The Nasdaq increased 180.73 points, or 1.64%, to 11,185.59 points.
The MSCI Asia-Pacific Index excluding Japan decreased by 0.5%. The Korean market fell with the Kospi losing 0.79%. China market increased, Shanghai Composite increased 0.11% and Shenzhen Component increased 0.983%. The Hong Kong Hang Seng Index fell 0.49%. In Japan, Nikkei 225 decreased by 0.37% while Topix decreased by 0.1%. The Australian market saw the strongest drop in the region with Australia’s ASX 200 down 1.61%.
Source: ndh.vn – Translated by fintel.vn