VN-Index starts off week in red
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Vietnam’s benchmark VN-Index continued to fall Monday with a 1.77 percent decline to 1,218.81 points, with most blue chips in the red. The index started off in the green but plunged in the afternoon and closed almost 22 points lower after losing nearly one point Friday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 7 percent to VND13.33 trillion ($579.56 million).
The VN-30 basket, comprising the 30 largest capped stocks, saw 27 tickers dropped. SSI dropped 6.85 percent, continuing to fluctuate around its one-year low level.
It was followed by five banks, with STB of Ho Chi Minh City-based lender Sacombank losing 5.8 percent TPB of private TPBank falling 4.5 percent. Other losers included MSN of conglomerate Masan Group, VNM of dairy giant Vinamilk and HPG of steelmaker Hoa Phat Group. BVH of insurance company Bao Viet Holdings was the only ticker that bucked the trend by rising 1.2 percent.
Foreign investors were net sellers for the third straight session to the tune of VND439.11 billion, mainly selling SSI and VIC of biggest private conglomerate Vingroup.
The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was down 2.07 percent while the UPCoM-Index at the Unliste
Questions & Answers
Q.Which types of companies were most affected by the recent market decline?
Which types of companies were most affected by the recent market decline?
Most blue chip stocks were in the red, with 27 out of 30 largest-capped stocks falling. The banking sector saw significant losses, and major companies in conglomerates, dairy, and steel also experienced declines.
Q.Did trading volume increase or decrease during Monday's fall?
Did trading volume increase or decrease during Monday's fall?
Trading on the Ho Chi Minh Stock Exchange actually increased by 7 percent, reaching VND13.33 trillion. This higher volume accompanied the significant decline in the VN-Index.
Q.Were foreign investors buying or selling Vietnamese stocks recently?
Were foreign investors buying or selling Vietnamese stocks recently?
Foreign investors were net sellers for the third consecutive session, offloading VND439.11 billion worth of shares. Their main sales were in SSI and VIC of Vingroup.
Q.Which stock managed to go against the general market trend?
Which stock managed to go against the general market trend?
BVH, the insurance company Bao Viet Holdings, was the only ticker that bucked the trend. It saw a rise of 1.2 percent on the day, despite the widespread declines.
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