Strong selling pressure drives stocks down

With losing stocks outnumbering winners by 312 to 82, the benchmark VN-Index on the Hochiminh Stock Exchange declined 3.63%, or 32.63 points, against the session earlier to 867.37 points. The VN30 Index closed the day down 3.84% to 806.87 points, with no stocks in the VN30 basket advancing.

Trading volume and value on the southern market increased by 29.42% and 39.15%, respectively, to 707.5 million shares worth nearly VND10 trillion.

There were 10 bluechips plunging to the floor prices, such as construction firm ROS, securities corporation SSI, lender CTG, electricity firm POW and mobile phone retailer MWG.

All of them had good liquidity. SSI and CTG had 9.2 million shares transacted at VND14,900 and VND22,950 per share, respectively, while POW had 8 million shares traded at VND10,500 each.

ROS led the southern market by liquidity with more than 43 million shares changing hands at VND3,230 per share, followed by industrial zone developer ITA with 39.7 million shares traded at VND5,600 per share.

On the Hanoi Stock Exchange, the HNX-Index fell 3.63%, or 4.62 points, to 116.06 points, with losing stocks outnumbering winners by 104 to 64. There were 124 million shares worth nearly VND1.22 trillion traded on the northern market, up 66% in volume and 56% in value against the previous session.

Five stocks in the HNX30 basket dropped to the floor prices, including property group HUT, securities company SHS, housing firm NDN, asset management corporation TVC and real estate company NRC.

Among the bluechips, securities company SHS plunged to the floor price at VND11,700 per share, while property firm CEO closed the day down 6.8% to VND9,600 per share. Petroleum stocks PVS, PVB and PVC dipped 7-9%, while bank stocks ACB and SHB fell 4.3%.

Property group HUT, petroleum stock PVS and lender SHB led the northern market by liquidity, each with over 11 million shares traded, followed by lender ACB with 9.16 million shares.