VN-Index slips after gaining streak

Vietnam’s benchmark VN-Index dipped 0.1 percent to 1,502.34 points Wednesday after six gaining sessions.

The index climbed by 10 points in the morning but strong selling pressure in the afternoon pulled it down by 1.4 points after rising nearly 58 points in the last six sessions.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, declined marginally to VND28.04 trillion ($1.23 billion).

The VN30 basket, comprising the 30 largest capped stocks, saw 22 tickers in the red, with GAS of state-owned Petrovietnam Gas falling 2.3 percent after three sessions in the red.

PNJ of Phu Nhuan Jewelry dropped 1.8 percent, and PLX of fuel distributor Petrolimex, down 1.4 percent.

Other losers included HDB of HDBank and PDR of Phat Dat Real Estate Development, both down 1.1 percent.

Seven blue-chip tickers gained, with POW of electricity producer Petrovietnam Power Corporation rising 2.4 percent and SAB of brewer Sabeco gaining 2.3 percent.

Foreign investors were net buyers to the tune of VND1.02 billion, with focus on DGC of Duc Giang Chemicals Group and MSN of conglomerate Masan Group.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.16 percent, while the UPCoM-Index for the Unlisted Public Companies Market fell 0.19 percent.