Vietnamese shares failed to maintain their upward trend on Thursday thanks to overwhelming selling pressure that persisted from the start of the trading hour to the closing minutes.
Vietnamese shares rebounded on the two exchanges on Wednesday as strong buying boosted almost all local stocks following the market’s two-day decline.
Following the bullish session on Monday, local markets were fragile on Tuesday with both indices falling on weakening investor sentiment, as external factors increase volatility in the market.
Shares declined on Monday as securities and banking lost momentum on investors selling pressure rising.
Local markets are set to feature lots of foreign trading again this week, with foreign investors’ taste likely to change market sentiment after foreign selling pressure had weighed down the stock market for the last two months.
Vietnamese shares closed Friday on a positive note as investors started buying in when exchange-traded funds (ETFs) offloaded stocks during their portfolio reviews.
Vietnamese shares slipped on Thursday as foreign investors struck a large net sell value after the US central bank raised interest rates and signaled more hikes to come this year.
Vietnamese shares advanced on Wednesday on the back of large-caps but trading liquidity remained low to prove cautious investor sentiment and signal volatile sessions to come.
Vietnamese shares sloped on Tuesday as recent rallies triggered a massive sell-off among investors to lock in profits and further market decline is in forecast for local markets.
Vietnamese shares almost fell to the defensive side on Monday as selling pressure rose in the final minutes of the session and pushed stocks down following recent rallies.