Profit-taking prevents VN-Index from conquering 1,300-mark again

The profit-taking pressure caused the effort to conquer the resistance level of 1,300 points to fail, pushing the VN-Index down by nearly 11 points on June 2.

The previous gaining trading session created bullish sentiment for investors when entering today's trading session. The buying orders above the reference price were made consecutively by investors with the expectation that the VN-Index would conquer the resistance level of 1,300 points right in today’s trading session. In fact, the VN-Index easily climbed to this mark again right after the ATO matching session, thanks to this expectation.

However, the VN-Index could not keep the green color and quickly retreated from the 1,300-point mark when a large number of selling orders to take profits suddenly appeared. Noticeably, the supply pressure appeared in all sectors, from large-cap and speculative stocks to small and medium-sized ones.

Without support from large-cap stocks, the VN-Index closed the trading session on June 2 with a decrease of 0.84 percent, or 10.9 points, to 1,288.62 points.

The Ho Chi Minh Stock Exchange had 123 gainers, 53 unchanged stocks, and 332 losers. The difference between winners and losers was also obvious in the VN30 group, with 23 losers, five gainers, and two unchanged stocks.

Stocks that negatively impacted the VN-Index included VPB, VNM, VHM, VCB, VJC, STB, TCB, SSI, POW, KDH, HPG, GAS, and BID. In contrast, there were only a few stocks with positive contributions to the index, such as BVH, MWG, NVL, and PNJ.

The market liquidity did not change much compared to the previous trading sessions, with 572.5 million shares matched successfully, worth VND16.46 trillion.

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