[Market News 19/03/2025] Defensive Stocks Reign

Some important notes:

– Foreign investors continued to net sell over 486 billion VND across all 3 exchanges. FPT remained the focus, accounting for up to 70% of the net selling volume in yesterday’s session. The net selling of FPT by foreign investors was not too surprising, as the sudden surge in 2024 had pushed the stock’s valuation to an excessively high level, far exceeding its historical average.

– The VN-Index could not sustain its upward momentum as large-cap stocks began to slow down and show signs of correction. In the short term, there are negative divergence signals on the hourly chart of the VN-Index and leading sectors in the recent period such as banking, securities, and VINCOM group. This creates downward pressure, even as cash flow is shifting to stocks that have not risen sharply or have corrected previously, such as LPB, GAS, POW.

At least, this development suggests that the market will need more time to re-accumulate around the strong resistance zone of 1,350 points, which could last for several weeks.

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