Market extends losses as risk appetite ebbs
Market extends losses as risk appetite ebbs
The stock market closed lower on Monday due to weak risk appetite and low liquidity, while foreign investors continue to be net buyers on the two main exchanges.
Transactions performed at an office of Vietcombank. The bank's shares soared 1.47 per cent on Monday, cushioning the market's losses. — VNA/VNS Photo |
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index was merely changed on the first day of the week after opening positively in the morning session.
The index declined 0.58 points, or 0.05 per cent, to 1,154.12 points. It lost 0.65 per cent last Friday.
The breadth of the market was negative, as 207 stocks dipped while 117 inched higher.
Liquidity fell sharply from the previous session. Particularly, the trading value plunged 44.2 per cent to nearly VNĐ12.7 trillion (US$516.5 million), the lowest in 2024. This was equal to a trading volume of 617.1 million shares.
The VN30-Index, tracking the 30 biggest stocks on HoSE, finished lower to 1,161.3 points, a decrease of 2.36 points, or 0.2 per cent. In the VN30 basket, 12 ticker symbols increased while 18 slid.
The selling force weighed on most sectors. Of which, banking stocks contributed the most to the downtrend, which was led by VPBank (VPB). VPB shares dipped 1.53 per cent on Monday, followed by Asia Commercial Joint Stock Bank (ACB) with a fall of 1.94 per cent.
Securities stocks also witnessed strong falls, such as SSI Securities Corporation (SSI) dropping 2.51 per cent, Saigon - Hanoi Securities JSC (SHS) down 1.63 per cent, VNDirect Securities Corporation (VND) plummeting 1.38 per cent and VIX Securities Corporation (VIX) declining 1.47 per cent.
Other stocks facing sell-off pressure were Sabeco (SAB), down 1.15 per cent, Dabaco (DBC) tumbled 2.55 per cent and GELEX Group (GEX) dropped 1.41 per cent.
The market pared losses on gains in some pillar stocks. Specifically, Vietcombank (VCB) was the biggest gainer on Monday, with an increase of 1.47 per cent.
It was followed by BIDV (BID), Mobile World Investment Corporation (MWG), PV Gas (GAS), Vinhomes (VHM), Masan Group (MSN) and FPT Corporation (FPT). All the stocks gained in a range of 0.74-2.39 per cent.
The HNX-Index on the Hà Nội Stock Exchange (HNX) lost for the second day in a row to 227.55 points, down 2.76 points, or 1.2 per cent.
During the session, more than 65.4 million shares were traded on the northern bourse, worth over VNĐ1.2 trillion.
Meanwhile, foreign investors were still net buyers on both main exchanges. They net bought a value of VNĐ54.89 billion on HoSE and VNĐ3 billion on HNX.
