Indices extend losses due to persistent selling pressure

Tuesday, May 10, 2022 12:23

The market continued to inch lower on Tuesday morning as investor sentiment was still weighed down by sell-off activities.

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) fell by 14.52 points, or 1.14 per cent, to 1,255.1 points. It lost nearly 60 points in the previous session.

The market's breadth remained negative with 328 stocks declining. Liquidity dropped slightly compared to yesterday's morning, of which 392.7 million shares were traded on the southern bourse, worth VND10.3 trillion (US$449 million).

The selling force was still strong, capping the recovery of the index.

The VN30-Index, tracking the 30 biggest stocks on HoSE, decreased by 4.33 points, or 0.33 per cent, to 1,309.71 points. Of the VN30 basket, 11 stocks increased, while 18 slid and one ended flat.

Vietnam Rubber Group (GVR) lost the most this morning and led the market's downtrend, dropped 4.61 per cent.

Real estate and banking stocks also posted big losses, with Vingroup (VIC) down 1.26 per cent, Vinhomes (VHM) down 1.03 per cent, Vietinbank (CTG) down 2.39 per cent and Becamex (BCM) down 3.74 per cent.

However, losses were capped by gains of some large-cap stocks. Of which Vinamilk (VNM) was the biggest winner, up 2.3 per cent.

On the Ha Noi Stock Exchange (HNX), the HNX-Index also dropped 4.05 points, or 1.25 per cent, to 319.34 points. VNS

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