Wednesday , March 22 2023

Stocks drop in third straight session

Vietnam’s benchmark VN-Index fell 1.20% to 1040.13 points Tuesday on its third straight losing day.

The index closed 12.67 points lower after losing 0.2 points on Monday.

Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 6.93% to VND10.45 trillion ($443.36 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 25 tickers dropped.

GVR of Vietnam Rubber Group fell the steepest with a 4.3% decline, followed by HPG of steelmaker Hoa Phat Group which went down 3.8%.

SSI of leading brokerage SSI Securities Corporation lost 3.1% and NVL of property developer Novaland Group dropped 2.7%.

Only two blue chips bucked the trend. SAB of brewer Sabeco closed 1.6% higher while VJC of budget airline Vietjet gained 1%.

Foreign investors were net buyers to the tune of VND384.98 billion, mainly buying VHM of property giant Vinhomes and SSI.

The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was down 1.6% while the UPCoM-Index at the Unlisted Public Companies Market was down by 0.8%.

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