Market starts the week with a decline
Market starts the week with a decline
The stock market began the new week with a drop, marking the second consecutive trading session of losses for the VN-Index, while foreign investors extended their selling streak for a seventh straight session.
A VietinBank transaction office in Hà Nội. The bank's CTG shares led the decliners on Monday. — VNA/VNS Photo |
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index closed at 1,279.77 points, down by 5.69 points, or 0.44 per cent.
Market breadth on the southern bourse was negative, with 233 stocks declining, 82 advancing, and 41 remaining unchanged. Liquidity fell slightly to VNĐ14.3 trillion (US$566 million), marking a 6.5 per cent decrease compared to the previous session.
The VN30-Index, which tracks the top 30 stocks by market capitalisation on the HoSE, also dropped by 4.66 points, or 0.34 per cent, to close at 1,358.03 points. Within the VN30 basket, 23 stocks declined, five advanced, and two remained unchanged.
The market’s downturn was led by large-cap stocks in the financial sector, with Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG) experiencing the steepest decline of 2.07 per cent and contributing nearly one point to the VN-Index's overall decrease.
This was followed by losses from the Bank for Investment and Development of Vietnam (BID), down 1.29 per cent, and Vietnam Rubber Group - Joint Stock Company (GVR), which fell by 1.81 per cent.
However, the market's losses were mitigated by gains in some major stocks led by Vinhomes JSC (VHM), which rose by 5.64 per cent, contributing nearly 2.9 points to the VN-Index.
Experts from Việt Dragon Securities commented: "The market continues to face selling pressure near the 1,300-point region, falling below the 1,290-point level. Liquidity declined slightly compared to the previous session, indicating persistent selling pressure when the market approached resistance. The current signals will likely hinder the market's ability to advance and pose challenges. It is possible that the market will retreat to the 20-day moving average area around 1,280 points to test the supportive cash flow before clearer signals emerge.
"Investors should monitor the supply-demand dynamics at the support levels to evaluate the market's condition. For now, it is advisable to maintain portfolio allocation at a reasonable level and continue to assess recovery opportunities for risk reduction."
On the Hà Nội Stock Exchange (HNX), the HNX-Index also closed lower on Monday, dropping by 0.78 per cent to 227.43 points.
During the session, nearly VNĐ752 billion worth of shares were traded, with a total trading volume of nearly 43 million shares on the northern bourse.
Foreign investors extended their net selling streak, with net sales amounting to over VNĐ267 billion on the HoSE.
