Market returns to its downtrend as foreign investors extend net selling

Vincom Tower in Hà Nội City. VIC shares of Vin Group led the market on Tuesday. — VNA/VNS Photo

HÀ NỘI — The stock market experienced increased selling pressure on Tuesday, with major stocks also suffering significant losses as the VN-Index broke its two-day rising streak.

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) finished the day at 1,245.06 points, down 1.54 points, or 0.12 per cent.

On the southern bourse, the breadth was negative as 210 stocks declined, while 106 increased and 50 ended flat. Liquidity remained low at VNĐ13.7 trillion (US$544 million), an increase of 20 per cent from the previous session.

The VN30-Index, which tracks the 30 biggest stocks on HoSE by market capitalisation, edged up 2.09 points, or 0.16 per cent, to 1,287.82 points. The number of gainers surpassed decliners in the VN30 basket by 16 to 11, while three stocks ended flat.

Large-cap stocks in the real estate and banking sectors led the market’s downturn, with Vinhomes JSC (VHM) posting the biggest fall in market capitalisation of 1.08 per cent, contributing to a decrease of more than 0.4 points in the VN-Index. Notably, this was the fourth consecutive negative trading session for this stock.

It was followed by FPT Corporation (FPT), down 0.78 per cent, Vietnam Rubber Group (GVR), down 0.75 per cent and Vietnam National Petroleum Group (PLX), down 1.46 per cent.

Banking stocks also performed poorly on Tuesday, led by the Bank for Investment and Development of Vietnam (BID), down 0.46 per cent. It was followed by Lien Viet Post Joint Stock Commercial Bank (LPB), down 1.01 per cent and Vietnam International Commercial Joint Stock Bank (VIB), down 1.44 per cent.

Losses were mitigated by gains in some pillar stocks, led by Vingroup Joint Stock Company (VIC). Shares of this conglomerate rose 1.44 per cent, contributing more than 0.56 points to the VN-Index gain.

It was followed by Military Commercial Joint Stock Bank (MBB), which rose by 1.66 per cent and Mobile World Investment Corporation (MWG), which increased by 1.61 per cent.

According to analysts from Việt Dragon Securities, liquidity increased compared to the previous session but remained low, indicating that supply has not exerted significant pressure despite some selling at higher prices. Overall, market participation remains low following the recent sharp decline. The market is likely to continue oscillating and testing the 1,250-point resistance level in the next trading session, but the current low demand may pose a risk of further weakening.

The Hà Nội Stock Exchange (HNX) index also finished lower on Tuesday, declining 0.69 per cent to 235.87 points.

During the session, more than VNĐ1.1 trillion worth of shares were traded, equivalent to a trading volume of over 61 million shares on the northern bourse.

Foreign investors extended their net selling spree as they net sold over VNĐ305 billion on the HoSE. — VNS