VN-Index falls to lowest this year

The index fluctuated around 1,530 points most of the day but started to plunge in the afternoon and closed nearly 25 points lower.

The biggest loss in five weeks sent VN-Index to around 1,500 points where it started the year at.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, surged 31 percent to VND41.81 trillion ($1.84 billion), the highest since Dec. 12.

The VN30 basket, comprising the 30 largest capped stocks, saw 24 tickers in the red, with POW of electricity producer Petrovietnam Power Corporation plunging 6.9 percent after five gaining sessions.

GAS of state-owned Petrovietnam Gas fell 5.1 percent, and KDH of real estate firm Khang Dien House lost 4.4 percent.

SSI of leading brokerage SSI Securities Corporation fell 4 percent to the lowest in nearly two weeks.

NVL of real estate developer Novaland Group dropped 2.9 percent to a six-week bottom.

Other losers included HDB of HDBank and PLX of fuel distributor Petrolimex, both falling 2.3 percent.

Four tickers ended in the green, with VRE of retail real estate arm Vincom Retail gaining 0.7 percent and PDR of Phat Dat Real Estate Development rising 0.5 percent.

Foreign investors were net sellers for the fourth straight session in a row to the tune of VND465 billion with focus on CII of Ho Chi Minh City Infrastructure Investment JSC and VRE.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, dropped 2.22 percent while the UPCoM-Index for the Unlisted Public Companies Market fell 1.12 percent.