VN-Index slips in narrow band

Vietnam’s benchmark VN-Index fell 0.01 percent to 1,395.33 points Tuesday, continuing along with a narrow band near the 1,400-range resistance.

Last-minute selling pressure pulled the index down by 0.2 point. It has been fluctuating within a three-point margin for the past six sessions, after surging to the 1,390-range on Oct. 11.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell 14 percent to VND20.34 trillion ($899 million).

The VN30 basket, comprising the 30 largest capped stocks, saw 17 tickers in the red, led by STB of Ho Chi Minh City-based lender Sacombank with a 2.6 percent drop.

GAS of state-owned Petrovietnam Gas dropped 1.7 percent after hitting a new peak Monday.

VRE of retail real estate arm Vincom Retail fell 1.6 percent to the lowest in over a week.

MSN of conglomerate Masan Group lost 1.4 percent, while HPG of steelmaker Hoa Phat Group fell 1.2 percent.

Foreign investors were net sellers to the tune of VND470 billion, with the strongest pressure on HPG and VHM of real estate giant Vinhomes.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.55 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 0.23 percent.