Market dips on strong selling force

Thursday, Aug 18, 2022 12:43

Shares inched down on Thursday morning, as a selling force dominated the market trend.

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index reversed the recent rally, down 2.94 points, or 0.23 per cent, to 1,272.34 points.

The market breadth was negative as 328 stocks slid, while 107 rose.

Liquidity also decreased over the previous session, with the matching value on the HoSE reaching nearly VND6.3 trillion (US$268.3 million), a fall of 26 per cent.

Foreign investors, meanwhile, net sold more than VND146 billion on the southern market.

The index's reversal was due to stronger selling pressure at the end of the morning trade. The VN30-Index, tracking the 30 biggest stocks on the HoSE, posted a decline of 1.3 points, or 0.1 per cent, to 1,299.1 points.

Weighing the market's sentiment, Becamex (BCM) lost nearly 2.6 per cent, leading the downside. It was followed by Vietnam Rubber Group (GVR), Novaland (NVL), BIDV (BID) and Vietinbank (CTG), all down in a range of 0.51-1.43 per cent.

The benchmark pared losses on gains in some big stocks, including Vingroup (VIC), up 1.78 per cent, Vinamilk (VNM), up 0.69 per cent, and Duc Giang Chemicals Group (DGC), up 2.04 per cent.

On the Ha Noi Stock Exchange (HNX), the HNX-Index also inched lower this morning, down 2.31 points, or 0.76 per cent, to 300.28 points. VNS

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