Indices extend losses as sell-off remains

The market fell on Tuesday morning, extending yesterday's downtrend due to a strong sell-off.

 

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) dipped 8.22 points, or 0.57 per cent, to 1,444.62 points. It posted a loss of 43.18 points in the previous trade.

The market's breadth remained negative, while liquidity dropped sharply compared to yesterday's morning trade. On HoSE, more than VND13.2 trillion (US$581.2 million) was poured into the market, equivalent to a trading volume of 438 million shares.

Meanwhile, foreign investors were still net buyers on the market, with a value of more than VND400 billion.

The benchmark's loss was capped by a gain in large-cap stocks. The VN30-Index, which tracks the 30 biggest stocks on the southern bourse, rose 3.23 points, or 0.22 per cent, to 1,481.84 points.

Of the VN30 basket, 18 stocks increased, 11 declined and one stayed unchanged.

Vingroup (VIC) led the market's downtrend, down 0.93 per cent. Other big realty stocks witnessing significant losses were Novaland (NVL), down 1 per cent, Becamex (BCM), down 3.39 per cent, Vinhomes (VHM), down 0.51 per cent and Development Investment Construction JSC (DIG) down 7 per cent.

Losses of at least 1 per cent in Hoa Phat Group (HPG), Vietnam Rubber Group (GVR), TPBank (TPB) and SeaBank (SSB) also weighed on market sentiment.

On the contrary, some large-cap stocks saw strong recoveries this morning such as BIDV (BID) up 2.18 per cent, Sacombank (STB) up 4.14 per cent, PV Gas (GAS) up 2.2 per cent, HDBank (HDB) up 1.38 per cent.

On the Ha Noi Stock Exchange (HNX), the HNX-Index fell 23.14 points, or 5.2 per cent, to 422.2 points. 

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