Market continues downward trend as foreign investors extend selling streak
Market continues downward trend as foreign investors extend selling streak
The stock market extended its decline on Tuesday, with the VN-Index falling close to the 1,280-point mark, while foreign investors maintained their strong selling activity.
At a BIDV branch in Hà Nội, BID shares led the gains despite a bearish market day. — Photo courtesy of BIDV |
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index closed at 1,281.08 points, down 5.26 points, or 0.41 per cent.
Market breadth on the southern bourse was negative, with 238 stocks declining, 78 advancing and 44 remaining unchanged. Liquidity fell to VNĐ16.6 trillion (US$665.2 million), marking an 8.8 per cent decrease compared to the previous session.
The VN30-Index, which tracks the top 30 stocks by market capitalisation on the HoSE, edged down by 0.2 points to 1,356.09 points. Within the VN30 basket, 18 stocks declined, eight made gains and four remained unchanged.
The market's downturn was driven by large-cap stocks in the manufacturing and real estate sectors, with Vinhomes JSC (VHM) recording the steepest decline in market capitalisation, falling by 1.54 per cent and contributing nearly 0.73 points to the VN-Index's overall decrease.
It was followed by Vietnam Rubber Group - Joint Stock Company (GVR), which fell by 1.52 per cent, Viet Nam National Petroleum Group (PLX), which dropped by 3.6 per cent and Vingroup Joint Stock Company (VIC), which decreased by 1.19 per cent.
However, the market's losses were cushioned by gains in some key stocks, led by the Bank for Investment and Development of Vietnam (BID), which rose by 1.21 per cent, contributing more than 0.84 points to the VN-Index.
Experts from Viet Dragon Securities said: "Liquidity decreased compared to the previous session, indicating hesitation between supply and demand. As supply pressure persists in the region above 1,280 points, it is expected that the market will continue testing the supply-demand balance around this level before clearer signals emerge.
"Investors should observe supply-demand dynamics to assess market conditions. At present, priority should be given to stocks showing strong cash flow signals from support levels, while taking advantage of recoveries to adjust portfolios and reduce risk."
On the Hà Nội Stock Exchange (HNX), the HNX-Index also declined by 0.77 per cent, closing at 228.95 points.
During the session, shares worth more than VNĐ990 billion were traded, with a total trading volume of over 53 million shares on the northern bourse.
Foreign investors continued their selling streak, with net sales amounting to over VNĐ573 billion on the HoSE.
