VN-Index falls for third consecutive session

VN-Index falls for third consecutive session

The market also experienced pressure from the withdrawal of foreign investors.

Electronic board showing trading stocks at the Ho Chi Minh Stock Exchange. The market's liquidity continued to fall on Thursday. — VNA/VNS Photo

The stock market decreased on Thursday, extending its current correction trend to the third consecutive session. 

Closing the trading day, the VN-Index on the Ho Chi Minh Stock Exchange (HoSE) declined nearly six points, or 0.35 per cent, to 1,665.18 points. 

Market breadth remained in the negative zone, as 208 stocks ticked down, while 108 ticker symbols went up. Liquidity continued to fall, down 14.4 per cent from the previous session to VNĐ27.8 trillion (approximately US$1 billion). 

Similarly, the VN30-Index, which tracks the 30 biggest stocks on the southern bourse, finished at 1,861.74 points, down 7.11 points or 0.38 per cent. The basket saw 22 stocks decrease, while seven increased and one finished flat. 

Selling force kept weighing down several large-cap stocks across sectors.

Among the top ten stocks influencing the index, Vietcombank (VCB) was the leader in the downtrend. The lender's shares dipped nearly 1.4 per cent, contributing more than 1.7 points to the benchmark’s loss. 

It was followed by FPT Corporation (FPT), Vinamilk (VNM), Asia Commercial Joint Stock Bank (ACB) and PV Gas (GAS). These stocks all posted declines of at least 1.5 per cent. 

However, gains in some pillar stocks cushioned the index’s loss. Leading the uptrend was Vingroup, with a rise of 1.33 per cent. Other supporters were also big players, like Vinhomes (VHM), Sacombank (STB) and Vietnam Airlines (HVN). 

Analysts have previously noted that the market tends to see fewer significant events during this period. However, early October is anticipated to bring crucial updates to the stock market, including the results of the FTSE Russell market upgrade and the forthcoming third-quarter financial reporting season.

On the Hanoi Stock Exchange (HNX), the HNX-Index also closed down at 111.1 points. It lost 0.68 points, or 0.61 per cent. 

During the session, over 108 million shares were traded on the northern market, worth more than VNĐ2.3 trillion. 

The market also experienced pressure from the withdrawal of foreign investors. They net sold a significant amount of over VNĐ1.5 trillion on HoSE and VNĐ98.6 billion on HNX. 

Bizhub