VN-Index ticks down, foreign investors continue net selling
VN-Index ticks down, foreign investors continue net selling
Benchmark indices moved in different directions on Friday as blue-chip stocks saw a withdrawal in capital while the foreign bloc continued net selling.
A Vietcombank transaction room. The lender was the biggest loser in the VN-Index for three consecutive trading days. — VNA/VNS Photo |
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index decreased 4.6 points, equivalent to 0.36 per cent, to 1,261.72 points. This marks its third straight day of decline.
According to Saigon-Hanoi Securities JSC (SHS), the market is under increased selling pressure as the VN-Index approaches a significant resistance level, leading to continued volatility.
The market breadth on the southern bourse was in negative territory as 176 stocks increased while 149 stocks decreased. Liquidity decreased 27.5 per cent, with transaction value reaching VNĐ18.7 trillion (US$732 million). This was equivalent to a trading volume of 771.1 million shares.
The VN30-Index, tracking the 30 biggest stocks on HoSE, also ticked down 3.32 points to 1,275.97 points, down 0.26 per cent. In the VN30 basket, up to 18 ticker symbols fell, nine increased and three ended flat.
In particular, Vietcombank (VCB) posted the biggest loss and led the market’s downtrend. The lender's shares dropped 1.58 per cent, erasing nearly two points from the VN-Index. Notably, the bank was the biggest loser in the VN-Index over the past three consecutive trading days.
Other stocks influencing the downturn were Bank for Investment and Development of Vietnam (BID), down more than 1.2 per cent, Vietnam Rubber Group - Joint Stock Company (GVR), which dipped 2.36 per cent and PetroVietnam Gas Joint Stock Corporation (GAS), which decreased 1.23 per cent.
The index pared losses thanks to weak bottom-fishing demand. Hòa Phát Group JSC (HPG) was the biggest gainer with an increase of 1.24 per cent, contributing more than 0.5 point to the VN-Index. It was followed by Vingroup Joint Stock Company (VIC), up nearly one per cent.
The Hà Nội Stock Exchange (HNX) index also finished lower on Friday afternoon, declining 0.38 per cent to 243.09 points.
During the session, more than VNĐ1.4 trillion worth of shares were traded, equivalent to a trading volume of nearly 78 million shares on the northern bourse.
On the other hand, foreign investors extended their net selling spree as they net sold over VNĐ1.4 trillion on HoSE. They also net sold VNĐ4.4 billion on HNX.
