The local stock market has been undergoing a correction for the past two weeks, starting in late January. As the long Tet holiday approaches, how might the market perform? What key factors are shaping investor sentiment during this period? Correction will likely persist The VN-Index has been on a downward correction since reaching its all-time high of 1,918 points on January 14, losing a total of 104 points by the first trading session of February 2. During that session, the benchmark index briefly slipped below the 1,800-point threshold, hitting an intraday low of 1,777 before recovering toward the close. Notably, two heavyweight stocks—VIC and VHM—both touched their lower limits, with substantial trading volumes of 10.4 million and 9.1 million shares, respectively. Of the VN-Index’s 104-point decline over the past half month, VIC alone accounted for more than 58 points, while VHM contributed nearly 18 points, according to market statistics. Between January 26 and February 2, VIC shed nearly 22%, and VHM dropped over 20%. From their peaks on January 8, the two stocks have plunged more than 31% and nearly 35%, respectively. In contrast, banking and oil/gas stocks have provided crucial support, offsetting part of the market’s downturn. Without these […]