VN-Index continues sideways trajectory

The index dropped two points after two sessions in the green. It has remained in the 1,470-range for six consecutive sessions.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell 16 percent to VND28.94 trillion ($1.26 billion).

The VN30 basket, comprising the 30 largest capped stocks, saw 18 tickers in the red, with VIC of biggest private conglomerate Vingroup dropping 2.9 percent to a three-week low.

PLX of fuel distributor Petrolimex lost 2.4 percent to the lowest in two weeks.

GAS of state-owned Petrovietnam Gas fell 2.3 percent, continuing sideways.

BVH of insurance company Bao Viet Holdings and GVR of Vietnam Rubber Group both lost 1.7 percent.

Ten blue chip tickers gained, with POW of electricity producer Petrovietnam Power Corporation rising 6.7 percent to a new peak.

The ticker has climbed since early July and has gained 72 percent since.

TPB of private TPBank rose 4.7 percent, also to a new peak.

Foreign investors were net sellers for the seventh session in a row to the tune of VND12 billion.

They focused on selling CII of Ho Chi Minh City Infrastructure Investment Jsc and HSG of steelmaker Hoa Sen Group.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, lost 0.35 percent while the UPCoM-Index for the Unlisted Public Companies Market fell 0.52 percent.