Market: Large cap stocks still attracted cash flows - Rubber prices
Slightly correcting after an overbought session. Today, VNIndex corrected 2.3pts, with 122 advanced tickers and 100 declined tickers in HSX. Among decliners, there were also some common leaders as: BVH, VNM, GAS, VIC. After a strong surge in yesterday session, today decreases of these stocks implied that they were overvalued and that there were many investors had been able to purchase them at low prices. Therefore, selling pressures from profit-taking activities gradually became more serious when trading prices went higher. Besides, BVH held its AGM today but the result was not as expectations of investors. At the meeting, BVH did not propose any term relating to raise more capital as well as FOL lifting. Consequently, investors who purchased BVH for these catalysts felt disappointment and decided to sell out. This caused BVH’s price decrease by 2.4%.
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