VN-Index extends its losing streak to fourth day

VN-Index extends its losing streak to fourth day

Trading liquidity remained subdued as investors continued to exercise caution. Trading volume on the HoSE reached 578.7 million shares, with a total value of nearly US$501 million.

FPT Corporation's headquarters in Cầu Giấy Ward, Hà Nội. Shares of the company dropped 1.4 per cent on Monday, weighing on the market's sentiment. — Photo fpttelecom.net.vn

Benchmark indices were mixed on Monday as selling pressure on large-cap stocks weighed on the VN-Index, while foreign investors continued to withdraw capital from domestic equities.

On the Hochiminh Stock Exchange (HoSE), the VN-Index decreased 14.11 points to close Monday at 1,720.98 points. This marked its fourth consecutive session of losses.

Trading liquidity remained subdued as investors continued to exercise caution. Trading volume on the HoSE reached 578.7 million shares, with a total value of nearly VNĐ13 trillion (US$501 million).

Although HoSE recorded 158 advancing stocks against 154 decliners, losses among several heavyweight shares dragged the benchmark lower. Vingroup (VIC), Vinhomes (VHM) and PV Gas (GAS) alone took nearly 15 points off the VN-Index, according to market statistics.

Other large-cap stocks also faced selling pressure. FPT Corporation (FPT) fell nearly 1.4 per cent, while Masan Group (MSN) lost approximately 1.5 per cent. 

Banking stocks LPBank (LPB) and SeABank (SSB) each declined by nearly 1 per cent, adding to the downward pressure.

Phu Nhuan Jewellery (PNJ) was another notable laggard, falling to its daily floor price amid heavy trading. More than 19 million shares changed hands as the stock resumed its sharp decline following several sessions of floor-price losses. Foreign investors had also continued to be net sellers of PNJ shares.

In contrast, Sahabank (SHB) rebounded 4 per cent, recovering after ten consecutive declining sessions, including one session at the floor price.

The rebound came after SHB issued a correction addressing rumours circulating about potential issues related to the bank's share issuance.

Steel stocks also stood out as a bright spot, rising across the board after several negative trading sessions. Hoa Phat Group (HPG) gained 3 per cent, Hoa Sen Group (HSG) advanced 3.54 per cent, and Nam Kim Steel (NKG) surged 6.89 per cent.

Meanwhile, the HNX-Index on the Hanoi Stock Exchange closed at 264.69 points, up 3.09 points. Investors poured more than VNĐ678.2 billion into the northern bourse, equal to a trading volume of 43.6 million shares. 

Foreign investors continued to be net sellers, recording net sales of nearly VNĐ583 billion on HoSE and VNĐ35.8  billion on HNX. This followed an unusually large net-selling session worth nearly VNĐ10 trillion late last week.

Besides PNJ, foreign investors concentrated their net selling on Techcombank (TCB), FPT, VIX Securities, VIC and SSI Securities. 

Bizhub