VN-Index Opens Week on a Downturn Amid Market Uncertainties
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Vietnam’s stock market kicked off the week on a down note, as the benchmark VN-Index dipped by 0.39%, closing at 1,296.29 points. This drop translates to a loss of 5.1 points, following a previous session where the index slipped 11.81 points.
Trading Activity Picks Up
Despite the decline in the index, trading on the Ho Chi Minh Stock Exchange surged by 8.16%, reaching a robust VND 22.39 trillion (approximately US$863.2 million). The VN-30 basket, which includes the 30 largest shares by market cap, presented a mixed bag—22 stocks experienced declines.
Notably, shares of Fortune Vietnam Bank (LPB) fell by 3.8%, while FPT Corporation saw its stock price slip by 2.3%. Budget airline Vietjet (VJC) wasn’t spared either, closing down by 2.2%. On a brighter note, seven blue-chip stocks made gains, with Vingroup’s VIC reaching its ceiling price with a remarkable 7% increase. Other gainers included Vinhomes (VHM), which rose by 1.38%, and Vincom Retail (VRE), which inched up by 1.02%.
Foreign Investor Trends
In the realm of foreign investments, a net selling trend emerged, with foreign investors offloading shares worth VND 562 billion, primarily targeting VHM and Gelex Group’s GEX.
Meanwhile, the Hanoi Stock Exchange’s HNX-Index, which covers mid and small-cap stocks, fell by 0.84%. In contrast, the UPCoM-Index, catering to Unlisted Public Companies, managed a slight uptick of 0.22%.
As the market oscillates like a seesaw, it’s clear that volatility remains the name of the game!
Questions & Answers
What caused the VN-Index to decline on Monday?
The VN-Index fell primarily due to losses in most of the large-cap stocks in the VN-30 basket, with significant declines from Fortune Vietnam Bank and FPT Corporation.
How did trading volume change from the previous session?
Trading activity ramped up by 8.16%, reaching VND 22.39 trillion, despite the overall decline in the VN-Index.
What has been the trend among foreign investors?
Foreign investors were net sellers, offloading VND 562 billion, mainly targeting the shares of VHM and GEX.