Market falls on strong selling pressure
Market falls on strong selling pressure
Shares opened a new week on a negative note with selling pressure weighing on the market, causing losses across all sectors.
On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index dropped 0.92 per cent to 1,407.24 points. The market breadth turned negative as 297 stocks declined, while 82 stocks rose.
The market liquidity was high with over 461.3 million shares traded on the southern market, worth more than VND15.8 trillion (US$689.6 million).
The benchmark fell despite gains in the 30 biggest stocks tracker, VN30-Index.
The VN30-Index climbed 0.21 per cent in the morning session to 1,557.79 points. Of the VN30 basket, 22 stocks decreased, while only eight rose.
Vietcombank (VCB) led the losses, down 2.35 per cent, followed by Vingroup (VIC) and No Va Land Investment Group Corporation (Novaland, NVL), down 1.19 per cent and 2.61 per cent, respectively.
Other stocks posting losses of more than 1 per cent were Vietinbank (CTG), MBBank (MBB), JSC Bank for Investment and Development of Vietnam (BID), Hoa Phat Group (HPG), Vinamilk (VNM), Masan Group (MSN) and PetroVietnam Gas JSC (GAS).
Meanwhile, stocks with big gains this morning session were Techcombank (TCB), up 3.5 per cent, and Mobile World Investment Corporation (MWG), up 5.17 per cent.
On the Ha Noi Stock Exchange (HNX), the HNX-Index also edged down 0.58 per cent to 326.12 points.
