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Sunday, June 23, 2024

Duality bewilders investors

By Trieu Duong

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The market is once again experiencing a contrast in its developments, with a decline in the morning followed by an upward movement toward the end of the day thanks to certain large-cap stocks. The influence of market makers The recent performance of the VN-Index has raised questions about the intentions of market makers. On July 7, the 10 most influential stocks accounted for a significant portion of the index’s rise. Vietcombank (VCB) played a major role, contributing over 5.2 points as its stock picked up nearly 4.3% back to its highest price in history (a rate already adjusted) at VND105,000 per share. As a result, the capitalization of Vietcombank stood at over VND496.91 trillion at the end of the week, larger than the combined value of the two following enterprises, namely Vinhomes (some VND235.13 trillion) and BIDV (nearly VND224.1 trillion). The market dynamics on July 7 surprised many investors, with a late-session comeback driven by key stocks, particularly VCB. However, this divergence between the index’s growth and the performance of individual stocks has become a recurring trend. The market experiences a decline in the morning, followed by an upward movement towards the end of the day led by selected large-cap […]
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