Thursday , June 13 2024

Stocks sink in historic plunge

Vietnam’s benchmark VN-Index plunged 5.75 percent to 1,299.7 points Monday, a historic fall, with all blue chips in the red as panic selling spread across the market.

The index started to decline in the morning and dived in the afternoon with 70 points loss as of 14:06 p.m.

It is now at the lowest since the end of August.

460 out 497 tickers on the Ho Chi Minh Stock Exchange (HoSE) were in the red, with 114 of them hitting the floor.

The VN30 basket, comprising the 30 largest capped stocks, saw all 30 tickers falling, with 11 of them hitting the floor, including BVH of insurance company Bao Viet Holdings, FPT of IT giant FPT Corporation, and CTG of state-owned lender VietinBank.

Foreign investors were net selling at VND11.5 billion after six buying sessions, mainly selling HPG of steelmaker Hoa Phat Group and DXG of real estate developer Dat Xanh Group.

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