Shares decline for second day due to selling pressure
Shares decline for second day due to selling pressure
Shares declined for a second straight session on Tuesday due to strong profit-taking pressure as investors flocked to sell off stocks in their portfolios, while foreign investors kept fleeing from the two main exchanges.
The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) lost 0.43 per cent to end at 1,478.44 points.
It had lost 0.55 per cent to end Monday at 1,484.84 points.
The market's breadth was neutral with 231 stocks rising, while 237 slid.
Market liquidity remained high as investors poured over VND34.4 trillion (US$1.5 billion) into the southern exchange, equivalent to a trading volume of 1 billion shares.
Foreign investors net sold more than VND600 billion on HOSE, of which Vingroup (VIC), Hoa Phat Group (HPG) and SSI Securities Inc (SSI) were sold the most. On the HNX, foreign investors net sold nearly VND40 billion.
The 30 biggest stocks tracker VN30-Index declined 0.99 per cent, to end at 1,537.59 points. Twenty-three in the VN30 basket decreased, while seven increased.
In the VN-30 basket, the worst performers were Vingroup (VIC), Vinhomes (VHM), Novaland (NVL), Sacobe (SAB) and Masan Group (MSN), Asia Commercial Bank (ACB), Bao Viet Holdings (BVH), Vietinbank (CTG), FPT Corporation (FPT), Military Bank (MBB) and Novaland (NVL).
“Vin” family stocks also performed poorly with Vingroup (VIC), Vinhomes (VHM) and Vincom Retail (VRE) all declining.
Banking stock were under selling pressure with losers Sai Gon Thuong Tin Commercial Joint Stock Bank (STB), Sai Gon-Ha Noi Bank (SHB), Asia Commercial Bank (ACB), Military Bank (MBB) and Vietinbank (CTG), VPBank (VPB), Techcombank (TCB), Tien Phong Bank (TPB) and Lien Viet Post Bank (LPB).
Twelve out of 25 sectors on the market declined, including whole, insurance, healthcare, securities, information and technology, banking, food and beverage, logistics and seafood processing.
On the other side, gainers were real estate, oil and gas, agriculture, rubber production, construction and construction materials.
On the Ha Noi Stock Exchange (HNX), the HNX-Index lost 0.55 per cent to end Tuesday at 458.05 points.
The index had risen 0.43 per cent, to end Monday at 460.58 points.
During the trading session, nearly 149 million shares were traded on HNX, worth nearly VND4 trillion.
