Pillar stocks, such as STB, BID, and VRE, rallied in the last minutes of the trading session on February 13, cushioning the losing momentum of the VN-Index, helping the index to close above 1,040 points.
After the sharp decline the previous day, Vietnam’s stock market continued to retreat in the trading session on December 7. Although the VN-Index only lost by nearly 8 points, many stocks fell to the floor, especially real estate stocks. VIC shares alone hit the ceiling price of VND71,200 per share, contributing to curtailing the losing momentum by nearly 5 points.
Despite the selling pressure in many sectors, the VN-Index still gained slightly in the trading session on the last day of October, thanks to the effort of the pillar stocks. In contrast, steel stocks continued to be engulfed in the red color due to heavy losses in the third quarter.
The market was dominated by the red color, but the VN-Index still gained, thanks to the group of pillar stocks. The fact that the market cannot be judged by its appearance makes many investors worry because they have lost direction in market assessment.