Market dips on strong sell-offs

Tuesday, Jun 07, 2022 12:31

The stock market fell on Tuesday morning, weighed by losses in many pillar stocks due to a weak appetite for risk.

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) plunged by 16.9 points, or 1.31 per cent, to 1,273.11 points.

The market breadth was negative with more than 380 stocks experiencing a bearish trend.

However, liquidity was higher than yesterday, as nearly VNĐ11 trillion (US$473 million) worth of shares, equal to a trading volume of over 417.3 million shares, were traded on the HoSE.

Foreign investors, on the other hand, net bought more than VNĐ298 billion on the southern market.

The index's downside risk was driven by strong sell-off activities across all sectors, with the VN30-Index posting a decrease of more than 20.9 points, or 1.58 per cent, to 1,306.12 points.

On the Ha Noi Stock Exchange (HNX), the HNX-Index continued its losing streak. The northern bourse's benchmark index ended the morning trade at 301.25 points, down 5.56 points, or 1.81 per cent.

In the top five stocks influencing the market's downtrend, Vinhomes reported the biggest loses, down nearly 1.6 per cent. Other stocks in the group were Vietcombank (VCB), Masan Group (MSN), BIDV (BID) and Techcombank (TCB), all dropping in a range of 1.25-2.5 per cent.

Realty stocks also saw big declines this morning, with Dat Xanh Group JSC (DXG) down 5.81 per cent, Licogi (L14) down 5.34 per cent, Hoang Quan Group (HGC) down 5.3 per cent, and CEO Group (CEO) down nearly 4 per cent. VNS

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