Nearly half of main bourse stocks hit floor prices
Vietnam’s benchmark VN-Index plunged 4.49 percent to 1,269.62 points Monday, a nine-month low, with 221 tickers out of 484 on the Ho Chi Minh Stock Exchange hitting the floor. The index stayed in the red throughout the day and closed nearly 60 points lower after losing 31 points in the last session.
It is now at the lowest since July 23 last year, having fallen 15 percent since the beginning of the year.
Major Asian markets also closed in the red Monday, with China’s Hang Seng Index losing 3.8 percent and Japan’s Nikkei 225 falling 2.5 percent, weighed by global growth worries due to lockdowns in China and aggressive policy tightening from central banks.
The VN30 basket, comprising the 30 largest capped stocks, saw all tickers losing, with 13 of them closing at floor price.
MWG of electronics retail chain Mobile World, PLX of fuel distributor Petrolimex and TCB of the largest private lender Techcombank all fell 7 percent.
BID of state-owned lender BIDV, BVH of insurance company Bao Viet Holdings and CTG of state-owned lender VietinBank dropped 6.9 percent.
Foreign investors were net buyers to the tune of VND547 billion, mainly buying VHM of real estate giant Vinhomes and HPG of steelmaker Hoa Phat Group.
The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, dropped 5.84 percent, while the UPCoM-Index for the Unlisted Public Companies Market fell 5.28 percent.