Market tumbles, VN-Index loses over 29 points
Market tumbles, VN-Index loses over 29 points
Shares fell sharply on Friday morning as selling pressure resurged, weighing on the market’s sentiment.
On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index plunged 29.14 points, or 2.12 per cent, to 1,345.71 points. The market’s breadth was negative with 281 stocks declining while 86 climbed.
However the liquidity improved as nearly VND19.8 trillion (US$869 million) was poured into the southern market, equivalent to a trading volume of nearly 628.8 million shares.
The index was under pressure since the early trade as pillar stocks in most sectors plummeted.
The VN30-Index, which tracks 30 biggest stocks in market capitalisation and liquidity on HoSE, dropped 36.29 points, or 2.41 per cent, to 1,468.72 points. Notably, all 30 stocks in the VN30 basket slid in the morning trade.
Of which, real estate stocks still led the downward trend with Vingroup (VIC) posting the biggest losses, down 5.48 per cent.
Vinhomes (VHM) and Vincom Retail (VRE), also lost more than 2 per cent this morning.
Most other large-cap stocks in banking, material, utilities, information technology and retail groups like Vietcombank (VCB), VPBank (VPB), Hoa Phat Group (HPG), Vietnam Rubber Group (GVR), PetroVietnam Gas (GAS), FPT Corporation (FPT) and Mobile World Investment Corporation (MWG) witnessed decreases of more than 2 per cent.
On Ha Noi Stock Exchange (HNX), the HNX-Index also inched down this morning, down 1.15 per cent.
