The selling pressure caused the electric board to be flooded in red color with more than 600 stocks dropping. However, this is an opportunity to catch the bottom of cheap stocks for cash-holding investors.
Vietnam’s stock market took place negatively in the morning trading session on October 24 due to strong selling pressure across the market. The VN-Index closed the morning trading session at only 996.45 points after dropping by nearly 24 points, with several real estate and securities stocks hitting the floor.
After the market recovered for three consecutive trading sessions at the end of last week and stopped falling free during the week, many investors have felt less worried. Current market movements have partly brought hope to investors.
Stockholders dumped shares heavily, whereas investors holding money did not participate in the market, causing the VN-Index to retreat to near 1,200 points. With a drop of roughly 29 points in the trading session on September 19, all previous gains of the VN-Index in August were erased.
After the longest losing streak in the past ten years, the VN-Index fell off the 1,200-point mark - an important support level established in 2018. Although there were several recovery sessions, with such a decrease in only six weeks, Vietnam’s stock market entered the top three markets with the sharpest decline in the world since the beginning of the year.