Market mixed as foreign bloc carries on selling
Market mixed as foreign bloc carries on selling
The stock market continued its decline on Tuesday, marking the VN-Index's fourth consecutive losing session, while foreign investors extended their selling streak.
A Mobile World Investment Corporation store in Thường Tín District, Hà Nội. MWG shares of this group led the decliners on Tuesday. — VNA/VNS Photo |
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index concluded the session at 1,244.82 points, down by 5.5 points or 0.44 per cent.
Market breadth was negative, with 189 stocks declining, 107 advancing and 67 remaining unchanged. Liquidity saw a significant drop, reaching VNĐ14.2 trillion (US$560 million), down 27.5 per cent from the previous session.
The VN30-Index, which tracks the 30 largest stocks by market capitalisation on HoSE, also declined by 8.51 points, or 0.65 per cent, to 1,301.95 points. Within the VN30 basket, 20 stocks fell, five advanced and five remained unchanged.
The downturn was primarily driven by large-cap stocks in the retail and banking sectors, with Mobile World Investment Corporation (MWG) recording the sharpest drop, falling by 3.49 per cent, contributing over 0.75 points to the VN-Index's overall decrease.
This was followed by losses in the Vietnam Joint Stock Commercial Bank For Industry And Trade (CTG), down 1.29 per cent, and FPT Corporation (FPT), which declined by 1.08 per cent.
However, market losses were partially offset by gains in some key stocks, led by Saigon Beer - Alcohol - Beverage Corporation (SAB), which rose by 2.35 per cent, adding more than 0.41 points to the VN-Index.
Analysts from Việt Dragon Securities said: “The market's attempted recovery failed, resulting in further declines. Liquidity fell compared to the previous session, showing limited support from capital inflows. The decline brought the market close to the 200-day moving average, around the 1,240-point mark. This support zone is expected to curb the market's downward momentum, potentially allowing for technical recovery in the near term.
“Thus, investors should closely monitor supply-demand movements around this support area to evaluate the market’s condition. The current dip could be an opportunity for short-term purchases at favourable prices for select stocks, though caution is advised in leveraging any rebound to rebalance portfolios and minimise risk.”
On the Hà Nội Stock Exchange (HNX), the HNX-Index also closed slightly lower on Tuesday, declining by 0.07 per cent to 226.69 points.
Throughout the session, shares worth over VNĐ873 billion were traded, with a total volume exceeding 47.1 million shares on the northern bourse.
Foreign investors continued their net selling trend, recording net sales of over VNĐ606 billion on HoSE.
