Market down slightly on risk-off sentiment
Market down slightly on risk-off sentiment
The stock market was down slightly yesterday with both benchmark indices lower due to weak risk appetite.
The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) fell 1.22 points, or 0.1 per cent, to 1,248 points. This ended the two-day rally.
The market’s breadth was in a negative zone with 262 stocks declining, while 184 stocks inched up. However, liquidity improved compared to the previous session, of which matching value on the southern bourse increased by 1 per cent to over VND10.1 trillion (US$431 million).
The index’s movement was due to risk-off sentiment with many big stocks facing a sell-off. The 30 biggest stocks tracker VN30-Index also finished lower at 1,272.48 points, a decrease of 3.12 points, or 0.24 per cent.
Data compiled by financial website vietstock.vn showed that realty, manufacturing and banking sectors influenced the market’s downside. Accordingly, Vinhomes (VHM) posted the worst performance, down 1.14 per cent. It was followed by Sabeco (SAB), Vietcombank (VCB), Masan Group (MSN), and Phat Dat Real Estate Development JSC (PDR), down in a range of 0.63-3.36 per cent.
However, the index pared some losses on gains in other big ticker symbols. Of which, Vietinbank (CTG) was the biggest gainer on Tuesday, up 1.66 per cent. Other stocks that cushioned the bearish trend were PV Gas (GAS), Becamex (BCM), Vinamilk (VNM) and PV Drilling (PVD).
Similarly, the HNX-Index on the Ha Noi Stock Exchange (HNX) dropped by 1.49 points, or 0.53 per cent, to 281.59 points, marking its second losing session.
During the session, over VND1.4 trillion worth of shares were traded on HNX, equivalent to a trading volume of 62.2 million shares.
Foreign investors were net sellers on the southern bourse after withdrawing VND265.28 billion. However, they net bought VND48.42 billion on HNX.
