Sunday , May 28 2023

Stocks tumble to 3-week low

Vietnam’s benchmark VN-Index dropped 1.07% to 1052.89 points Friday, the lowest since March 27, in its third straight session in the red.

The index closed 11.41 points lower after losing 5.15 points on Thursday.

Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 16.52% to VND13.33 trillion ($568.56 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 24 tickers fell.

PDR of Phat Dat Real Estate Development and TCB of the largest private lender Techcombank both lost 4.3%.

GVR of Vietnam Rubber Group fell 4.1% and STB of Ho Chi Minh City-based lender Sacombank lost 2.8%.

Three blue chips gained: HPG of steelmaker Hoa Phat Group went up 1%, VRE of retail real estate arm Vincom Retail rose 0.7% and VCB of state-owned lender Vietcombank closed 0.2% higher.

Foreign investors were net sellers to the tune of VND216.44 billion, mainly withdrawing from STB of Ho Chi Minh City-based lender Sacombank and VND of brokerage VNDirect.

The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was down 1.23% while the UPCoM-Index at the Unlisted Public Companies Market was down by 0.83%.

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