Shares decline on weakened sentiment

Thursday, Feb 24, 2022 17:43

Customers at a branch of HDBank (HDB) in Ha Noi. HDB lost 2.9 per cent Thursday. — Photo HDBank

Shares lost ground on Thursday with strong selling due to weakened market sentiment over the Ukraine crisis.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) lost 1.15 per cent to close at 1,494.85 points.

The index had gained 0.59 per cent to close Wednesday at 1,512.30 points.

The market's breadth turned negative with 396 stocks declining, while 75 rose.

Liquidity reached a new record with more than 1.16 billion shares traded on the southern bourse, worth VND35 trillion (US$1.5 billion).

The 30 biggest stocks tracking VN30-Index dropped 1.09 per cent to 1,522.04 points. Twenty-five in the VN30 basket decreased, while five increased.

In the VN-30 basket, losers were HDBank (HDB) down 4.2 per cent, Sacombank (STB) down 4 per cent, Tien Phong Bank (TPB) down 3.5 per cent, Lien Viet Post Bank (LPB) down 3.8 per cent, Vingroup (VIC) down 3.5 per cent, Vietinbank (CTG) down 3.2 per cent, Hoa Phat Group (HPG) down 1.5 per cent, PVPower (POW) down 2.2 per cent, and Vinamilk (VNM) down 1.8 per cent.

Banking stocks were sold strongly and pressured the indices, including Asia Commercial Bank (ACB), Bank for Investment and Development of Vietnam (BID), Vietinbank (CTG), Military Bank (MBB), Sacombank (STB), Tien Phong Bank (TPB) and Military Bank (MBB).

Real estate and construction stocks experienced a dramatic drop in prices on Thursday as a series of large-cap stocks declined such as Tasco Joint Stock Company (HUT), LDG Investment JSC (LDG), Licogi 14 JSC (L14), Development Investment Construction JSC (DIG), C.E.O Group JSC (CEO), Dat Xanh Group JSC (DXG), Ho Chi Minh City Infrastructure Investment JSC (CII) and DRH Holdings JSC (DRH).

Nineteen out of 25 sector indices on the stock market lost ground, including real estate, retail, banking, agriculture, rubber processing, seafood processing, construction materials and logistics, securities, healthcare, food and beverage, and construction.

Meanwhile, the HNX-Index on the Ha Noi Stock Exchange (HNX) decreased 1.73 per cent, to 434.88 points. The index had increased 1.87 per cent to close Wednesday at 442.54 points.

During the trading session, investors poured VND4.7 trillion into the northern market, equivalent to a trading volume of 159 million shares. — VNS

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