Shares suffer worst daily decline since mid-Jan
Vietnamese stocks logged their biggest daily drop since mid-January as losses in large-cap and financial securities stocks outweighed the boost from banking shares.
Vietnamese stocks logged their biggest daily drop since mid-January as losses in large-cap and financial securities stocks outweighed the boost from banking shares.
The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) lost 2.25 per cent, to close at 1,439.71 points.
The market's breadth was negative with the number of decliners six times more than the number of gainers by 419 to 66.
On the HoSE, investors poured over VND24.8 trillion (US$1.1 billion) into the market, equivalent to a trading volume of nearly 828 million shares.
The benchmark's bearish trend was due to the sharp falls in the VN30-Index pressured by securities stocks. The VN30-Index, tracking the 30 biggest stocks on HoSE, lost 2.05 per cent, to 1,471.31 points.
Of the VN30 basket, six stocks rose, while 24 declined.
In the VN-30 basket, the worst performers were FPT Corporation (FPT) losing 3.3 per cent, Hoa Phat Group (HPG) falling 6 per cent, Khang Dien House declining 3.3 per cent, Masan Group (MSN) losing 5.3 per cent, Mobile World Group (MWG) falling 2.5 per cent, Novaland (NVL) decreasing 2.4 per cent, Phat Dat Real Estate (PDR) losing 4.9 per cent, Vinhomes (VHM) declining 4 per cent and Vincom Retail (VRE) dropping 6.3 per cent.
Securities stocks also suffered selling pressure during the session with many losers, namely SSI Securities Inc (SSI), Ho Chi Minh City Securities Corporation (HCM), Viet Capital Inc (VCI), VNDirect Securities Co (VND), Asia - Pacific Securities Joint Stock Company (APS), Viet Nam Bank For Industry & Trade Securities JSC (CTS), VNDirect Securities Co (VND), Bank for Investment & Development of Vietnam Securities Company (BSI) and VIX Securities Joint Stock Company (VIX).
On the positive side, the market’s fall was lessened by the growth of some blue-chips in the banking group, such as Bank for Investment and Development of Vietnam (ACB), gaining 2.7 per cent, Vietinbank (CTG) rising 0.3 per cent, Military Bank (MBB) increasing 0.9 per cent, Techcombank (TCB) up 1 per cent and Vietcombank (VCB) moving up 4.3 per cent.
On the Ha Noi Stock Exchange (HNX), the HNX-Index lost 4.09 per cent, to close at 400.76 points. — VNS
