Sunday , June 23 2024

Property stocks hit floor price as VN-Index dips

Nearly 88% of property stocks hit the floor Monday as VN-Index is set to close its fourth straight session in the red.

Out 81 property stocks on the Ho Chi Minh Stock Exchange and Hanoi Stock Exchange, 71 were declining as of 2 p.m., among them 35 were at floor price.

KBC of industrial real estate developer Kinh Bac City, DXG of real estate developer Dat Xanh Group and NVL of real estate developer Novaland Group were all on the floor, losing 6.8-7%.

KDH of real estate firm Khang Dien House and ITC of Investment and Trading of Real Estate were also falling by the same rate.

The property sector, according to data from Vietstock, were losing by 4.6%, the sixth worst performing sector Monday.

Vietnam’s benchmark VN-Index was losing 18.19 points, or 1.79%, with 77% of its stocks losing.

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