VN-Index falls for sixth straight session

VN-Index falls for sixth straight session

After six consecutive sessions of losses, the VN-Index moved closer to the 1,700-point threshold.

A view of the Vinhomes Grand Park urban area, which is developed by Vinhomes, in HCM City. Shares of the property developer plunged nearly 5.3 per cent on Wednesday, erasing 5.6 points from the VN-Index. — VNA/VNS Photo

Indices traded differently on Wednesday, with the VN-Index extending losses to its sixth straight session as selling pressure intensified in Vingroup-related stocks.  

The VN-Index on the Hochiminh Stock Exchange (HoSE) fell 14.55 points to 1,704.87.   

Market breadth remained negative, with 163 stocks declining and 128 increasing. Liquidity was low, reaching more than VNĐ13.7 trillion (US$530 million).   

The VN30-Index, which tracks the 30 biggest stocks on the HoSE, fell 8.55 points to 1,852.44 points. In the VN30 basket, 17 stocks ticked down, while 10 inched up and three ended flat.

The sell-off concentrated on large-cap shares, particularly Vingroup (VIC), Vinhomes (VHM), Vinpearl (VPL) and Vincom Retail (VRE), which together dragged the benchmark down by more than 12 points out of its total 14.55-point loss.

Vinhomes faced particularly strong selling pressure at the beginning of the afternoon trade. The stock closed the session down 5.28 per cent against its reference price. 

VIC also fell sharply, although it staged a brief recovery later in the session. Selling pressure intensified during the final 15 minutes of continuous trading and the closing auction, leaving the stock down 1.62 per cent for the day. 

The other two Vingroup stocks also ended lower. VPL fell 3.31 per cent and VRE declined 1.54 per cent, with both closing near their session lows.

The benchmark paired some losses with gains in some big names. 

Hoa Phat Group (HPG) was among the stronger performers, finishing the day up 1.71 per cent. FPT Corporation (FPT), PV Gas (GAS) and Vietinbank (CTG) also recovered some ground, but their gains were limited. 

On the Hanoi Stock Exchange (HNX), the HNX-Index increased slightly by 0.91 points to 265.16 points. More than 45.3 million shares were traded on the northern bourse, worth VNĐ656.7 billion.

Foreign investors continued to weigh on the market, recording net sales of over VNĐ777 billion worth of shares across the two main exchanges. On the HoSE, net selling reached VNĐ772.2 billion.

VIC topped the list of shares net sold by foreign investors, followed by VHM and FPT Retail (FRT). 

Bizhub