Market keeps correcting, VN-Index breaks below 1,100 points

The headquarters of BIDV on Tông Đản street, Hà Nội. Shares of the lender dipped 1.2 per cent on Monday, weighing the market’s downtrend. — VNS Photo Ly Ly Cao

HÀ NỘI — Indices set another daily loss on Monday, with the VN-Index falling below the 1,100 point-level, while foreign investors continued to net sell hundreds of billions of đồng on the market. 

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) settled at 1,091.88 points, a 10.42 points decrease, or 0.95 per cent. This marks its fourth straight day of falling. 

The market’s breadth was negative with 210 stocks declining while 100 inched higher. Liquidity slightly decreased from the previous session. In particular, the trading value on the southern bourse fell to VNĐ14.7 trillion (US$604.5 million), from VNĐ15.9 trillion on Friday’s trade. 

The 30 biggest stocks tracker, VN30-Index also dropped 12.73 points, or 1.16 per cent, to 1,084.67 points. Up to 25 stocks of the VN30 basket finished lower, while three ticker symbols increased and two were flat. 

The banking industry dominated the bearish trend, with Vietcombank (VCB) posting the biggest loss of 0.85 per cent. It was followed by Vietinbank (CTG) and BIDV (BID), down 2.43 per cent and 1.2 per cent, respectively. 

Other bank stocks witnessing big losses were VPBank (VPB), Techcombank (TCB), Sacombank (STB) and HDBank (HDB). All the stocks tumbled in a range of 1.6 – 3.16 per cent. 

Also weighing on the market, FPT Corporation (FPT) was down 2.3 per cent, Vinamilk (VNM) dipped 1.62 per cent, Vingroup (VIC) fell 1.14 per cent and Vietnam Rubber Group (GVR) plunged 2.26 per cent. 

On the contrary, Vietjet Aviation JSC (VJC) performed well with a gain of 1.94 per cent. 

The HNX-Index on the Hà Nội Stock Exchange (HNX) also opened the new week on a negative note, extending last week’s downtrend. It closed the session at 225.73 points, down 1.29 points, or 0.57 per cent. 

The market was also under pressure from the withdrawal of foreign investors. Of which, they net sold nearly VNĐ771 billion on HoSE, but net bought VNĐ15.47 billion on HXN. As a result, they net sold more than VNĐ755 billion on the two main exchanges. — VNS