Market mixed, VN-Index falls for second day

Market mixed, VN-Index falls for second day

Adding pressure to the market, foreign investors continued to sell net on HoSE, with net outflows of more than VNĐ804 billion.

An investor at a trading office of a securities firm. — Photo bnews.vn

The market was mixed on Friday, with the VN-Index extending its short-term correction into a second consecutive session.

At the close, the VN-Index on the Hochiminh Stock Exchange (HoSE) fell 4.27 points to 1,862.08 points. 

On HoSE, the session saw 260 advancing stocks and 383 declining, while liquidity decreased from the previous trade to nearly VNĐ15.7 trillion (US$595.5 million).

In contrast, on the Hanoi Stock Exchange (HNX), the HNX-Index gained 0.84 points to 307.57 points.

PV Gas (GAS) was reported to create the largest drag on VN-Index, taking away about 1.02 points. 

LPBank (LPB) reduced the benchmark by around 0.70 points, while Phu Nhuan Jewellery (PNJ) trimmed about 0.48 points. 

Notably, PNJ showed no buyers as the shares fell to the floor price. The decline followed the crackdown on a cross-border diamond smuggling ring.

The police reportedly identified the person leading the legalisation stage for the smuggled diamonds as Đặng Ngọc Thảo, the former general director of P-Lab, a subsidiary of PNJ. The P-Lab operates independently and specialises in providing inspection services for gold, alloys and gemstones.

BIDV (BID) and Vinpearl (VPL) together pushed the index down roughly 0.46 points. 

On the other side, Vinhomes (VHM) provided the strongest support, contributing approximately 1.09 points to VN-Index. 

It was followed by Vietnam Airlines (HVN), Masan Conusmer Corporation (MCH), VPS Securities (VCK) and Vietjet Aviation (VJC). These stocks gained in a range of 1.23-2.7 per cent. 

Energy stocks traded less positively, with most names in the red. Petrolimex (PLX) fell 1.75 per cent, PetroVietnam Technical Services Corporation (PVS) declined 1.04 per cent, Petrovietnam Refining and Petrochemical Corporation (BSR) dropped 0.8 per cent and PV Drilling (PVD) lost 0.61 per cent. 

PetroVietnam Chemical and Services (PVC) was one of the few exceptions, edging up 0.79 per cent.

While the benchmark stayed under pressure, the securities group continued to stand out, with several stocks posting notable gains. 

Tien Phong Securities Corporation (ORS) hit the ceiling price, while Viet Dragon Securities (VDS) rose 6.71 per cent, MB Securities (MBS) climbed 4.88 per cent, Saigon - Hanoi Securities (SHS) gained 2.66 per cent, VNDirect Securities (VND) rose 2.22 per cent and SSI Securities (SSI) added 0.92 per cent.

Foreign investors continued to sell net on HoSE, with net outflows of more than VNĐ804 billion. Selling pressure concentrated in Techcombank (TCB), Masan Group (MSN), Vingroup (VIC), Gelex Group (GEX), MBBank (MBB) and VIB. 

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