Market kicks off September on a negative note
Meanwhile, foreign capital was withdrawn from the market after the long holiday.
Shares declined on Wednesday, dragged down partly by global market trends. Meanwhile, foreign capital was withdrawn from the market after the long holiday.
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index closed the trading day at 1,275.8 points, down 8.07 points, or 0.63 per cent. This snapped its four-day gaining streak.
The market's breadth was in negative territory, as the number of losers surpassed that of winners by 230 to 105.
Liquidity showed signs of improvement with a gain of 16.3 per cent from the previous session, but was hovering at low levels. Particularly, the trading value reached VNĐ15.7 trillion (US$632.3 million).
The VN30-Index, which tracks the 30 biggest stocks in term of market capitalisation on the southern bourse, also ticked down 13.81 points, or 1.04 per cent, to 1,317.71 points. Twenty three stocks on the VN30 basket decreased, while six moved higher and one stocks stayed unchanged.
Leading the downtrend was the banking group with Vietcombank (VCB) being the biggest loser. Shares of the lender fell 0.76 per cent, contributing nearly one points to the index's loss.
Other large banking ticker symbols seeing significant falls were VPBank (VPB), down 2.37 per cent, MBBank (MBB) down 1.81 per cent, Techcombank (TCB) dipping 1.5 per cent and HDBank (HDB) plummeting 2.17 per cent.
Securities, technology, consumer and manufacturing shares also posted poor performances.
SSI Securities Corporation (SSI) fell 1.63 per cent, Saigon - Hanoi Securities JSC (SHS) declined 2.44 per cent, VNDirect Securities Corporation (VND) slid 1.61 per cent, FPT Corporation (FPT) slid 1.34 per cent, Vietnam Rubber Group (GVR) decreased 1.84 per cent, Petrolimex (PLX) was down 3.3 per cent and Masan Group (MSN) dipped nearly 1.6 per cent.
However, the index pared losses as some pillars rose sharply. Vinhomes (VHM) contributed most to the rally, up 2.41 per cent. It was followed by PV Gas (GAS), Vietinbank (CTG), Vincom Retail (VRE) and Vinamilk (VNM). These stocks increased between 0.54-2.6 per cent.
The HNX-Index on the Hà Nội Stock Exchange (HNX) extended its losing streak to six days. It finished Wednesday at 236.14 points, down 1.42 points, or 0.6 per cent. On the northern bourse, nearly 51.5 million shares were traded, worth over VNĐ1 trillion.
The domestic market tracked the global market's movements, with Japan’s Nikkei 225 posted its worst day since early August sell-off, down 4.24 per cent.
Meanwhile, foreign investors returned to net selling, they net sold VNĐ773.55 billion on the HoSE and VNĐ28.14 billion on the HNX. — VNS
