VN-Index loses over 100 points in just a week

VN-Index loses over 100 points in just a week

Foreign investors continued to sell a net of nearly VNĐ1.8 trillion on HoSE, but they net bought VNĐ18.64 billion on HNX.

A booth of Masan Group displaying its signature products. Shares of Masan Group soared 3.65 per cent, cushioning the market's downtrend. — VNA/VNS Photo

Việt Nam’s stock market extended its losing run for a seventh straight session on Wednesday, shedding more than 100 points in just a week as heavy selling in large-cap shares dragged the main index lower despite pockets of support.

By the end of the day, the VN-Index on the HoChiMinh Stock Exchange (HoSE), the country's main bourse, fell 27.59 points, or 1.51 per cent, to 1,802.91 points.

Market breadth remained negative, with decliners outnumbering gainers 172 to 140. Liquidity surged to nearly VNĐ34.6 trillion (US$1.3 billion), equivalent to a trading volume of more than one billion shares.

The VN30-Index  dropped 22.75 points, or 1.13 per cent, to 1,997.13 points. Within the VN30 basket, which tracks the 30 largest listed companies, 11 stocks advanced, 16 declined, and three ended unchanged.

In contrast, the HNX-Index was relatively steady, edging down 0.37 points, or 0.15 per cent, to 252.47 points.

Heavy losses in major blue chips exerted the strongest downward pressure, led by Vingroup (VIC), Vinhomes (VHM), Vietcombank (VCB), Vietnam Rubber Group (GVR) and BIDV (BID). VIC plunged 6.95 per cent and VHM slid 5.7 per cent, with VIC alone accounting for nearly 16.5 points of the VN-Index’s decline.

VCB, GVR and BID fell by 1.42 per cent, 4.14 per cent and 1.33 per cent, respectively.

The securities sector also weakened, though losses were modest, with VPBank Securities (VPX) down 0.93 per cent, Techcom Securities (TCX) easing 0.36 per cent and Saigon-Hanoi Securities (SHS) losing 1.5 per cent.

Losses were partly capped by gains in several pillar stocks, including PV Gas (GAS), Masan Group (MSN), FPT Corporation (FPT), Sacombank (STB) and Binh Son Refining and Petrochemical (BSR), which rose between 1.86 and 3.65 per cent.

Other oil and gas shares also advanced, with PetroVietnam Technical Services Corporation (PVS) climbing 6.62 per cent and PV Drilling (PVD) up 4.1 per cent.

Foreign investors remained net sellers on HoSE, offloading nearly VNĐ1.8 trillion, though they recorded net purchases of VNĐ18.64 billion on the HNX.

Experts at VCBS, the securities arm of Vietcombank, said capital was actively rotating in search of new opportunities within the current market environment. They recommended that investors remain calm, closely track overall index movements and review their portfolios.

Specifically, they advised cutting exposure to stocks facing heavy selling pressure while holding those showing stable upward trends. 

Bizhub