Stocks continue to fall

After yesterday’s plunge, stock market This morning session (May 10) continued to plunge when stocks were sold off strongly from large-cap to small- and medium-cap groups. After dropping more than 30 points at the beginning of the session, bottom-fishing demand appeared VN-Index strongly recovered and had a time of increasing reversal.

However, the demand could no longer maintain the momentum when the market recovered, while the constant supply made the market’s rally not last long and gradually returned to the downtrend at the end of the morning.

Stocks with high market value such as real estate, construction, securities, and banking generally all dropped, many stocks hit the floor price such as DXG, HDC, HDG, SCR…

The duo of fertilizer stocks DCM and DPM also dropped to the floor at the same time. Retail stock FRT, after a series of hot increases recently, was also sold strongly and fell to the floor. Even though GEX is supported by cash dividend information, it is not better when it is falling to the floor “white buyers”.

On the other side, petroleum stocks traded quite well and many gainers such as PVD, PVC, PVS, PVG, PSD… Besides, some Bluechips like FPT, REE, VNM, SAB, VJC, MWG… also gained points. help the market to reduce the gloomy part.

Pausing the morning session, the VN-Index dropped 14.52 points (1.14%) to 1,255.1 points; HNX-Index fell 1.25% to 319.33 points and UPCom-Index fell 0.08% to 96.42 points. Market liquidity was still low with the trading value of 3 exchanges reaching more than 11,000 billion dong.

On the world market, stocks in the Asia-Pacific region also continued to decline in this morning’s session, following the strong drop of Wall Street stocks last night – after the index was biased in favor of stocks. Nasdaq technology shares fell more than 4%.

The Hang Seng Index of the Hong Kong Exchange (China) led the decline with a decrease of 2.6%. South Korea’s Kospi was followed, down more than 1%. The Hang Seng Index pulled back mainly because the technology stocks listed on this floor were having an unfavorable session. Tencent tumbled nearly 4% while Alibaba fell as much as 6%.

In general, technology stocks listed on Asia-Pacific exchanges fell sharply this morning, mirroring similar developments from the US market last night.

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