In addition, the SSC also ordered Vietnam Securities Depository (VSD) to adjust the final settlement price of the VN30 index futures contract to be the average price of the last 30 minutes from the expiration date. instead of the closing price of the ATC session to avoid the impact on the underlying market.
At the same time, the SSC also ordered to come up with measures to move the Vietnamese stock market from the frontier to the emerging market as soon as possible.
The contents of the meeting partly created investor optimism when the number of low-priced sell orders fell sharply as demand no longer hesitated to be pushed to the electrical board. This positive development allowed the electricity panel to cover itself in green, and the VN-Index sometimes made a vertical rise of more than 33 points.
However, the market moves changed rapidly in the afternoon trading session when the low-priced supply suddenly increased in the large-cap stock group. The liquidation of the pillar stocks triggered a domino effect on the remaining stocks.
Selling pressure caused the VN-Index to gradually turn red, then close on a double-digit decline. Specifically, the benchmark closed down 10.82 points, or 0.91%, at 1,171.95 points.
Although the VN index fell sharply, the number of winners was slightly higher with 232 stocks against 224 losers and 45 stocks unchanged. The difference between winners and losers was also clearer in the VN30 group. Specifically, the number of losers was 11, while the number of stocks that rose and came to rest was 16 and 3, respectively.
Remarkably, 11 losers in the VN30 basket had the presence of almost all stocks that had a big impact on the index, such as BVH with a decline of 5.5%, GAS with 5%, MSN with 6.9%, SAB with 3%, VIC with 1.3%, VNM with 0.5% and VHM with 3.2%.
The fact that this key group of stocks was dragged lower at the end of the trading session gave many investors another reason to doubt that the market was distorted by derivatives trading.
Liquidity suddenly dropped from the previous session, with 584.3 million shares matched, worth VND 14.57 trillion.