VN-Index downs 1.03 pct

By Hung Le   January 8, 2020 | 07:38 pm GMT+7
VN-Index downs 1.03 pct
An investor looks at the price boards at a Vietnamese securities firm. Photo by VnExpress/Huu Khoa.
Vietnam's benchmark VN-Index ended 1.03 percent lower at 948.98 points on Wednesday.

An overwhelming 263 stocks lost on Ho Chi Minh Stock Exchange (HoSE), on which the index is based, compared to 78 gainers, with the value order-matched transactions surging to VND2.8 trillion ($120.3 million) from VND2 trillion ($85.93 million) last session.

VN30-Index for Vietnam’s 30 biggest market cap stocks sank even further, at 1.31 percent, with 27 tickers losing and two gaining. Over half of blue chips in red sank more than 1 percent.

ROS shares of real estate developer FLC Faros returned as the hardest losing stock on the market, after reaching its ceiling price the previous session. ROS fell 7 percent, the sixth time it had hit its floor price in the previous eight sessions.

It was followed by NVL of real estate developer Novaland, down 4.1 percent, VRE of retail corporation Vincom Retail, down 3.7 percent, and GMD of sea freight and port services firm Gemadept, down 3.7 percent.

Other big losers included SSI of Saigon Securities Inc, which shed 2.7 percent, REE of electronic appliances maker Refrigeration Electrical Engineering Corporation, with 2.6 percent, and MWG of electronics retail giant Mobile World, with 2.4 percent.

VIC of Vietnam’s biggest private conglomerate Vingroup and VHM of its real estate subsidiary Vinhomes, the two biggest market cap stocks on HoSE, fell 0.3 percent and 1.6 percent, respectively.

BID of BIDV, one of Vietnam’s three biggest state lenders by assets, and VNM of dairy giant Vinamilk were the only two stocks to have closed in green, rising 0.9 percent and 0.3 percent, respectively.  

Meanwhile, HNX-Index for stocks on Hanoi Stock Exchange, Vietnam’s second main bourse for small and mid-cap stocks, dropped 1.13 percent, while UPCoM-Index for unlisted public companies shed 1.36 percent.

Foreign investors net bought VND175 billion ($7.5 million) worth of shares this session, with buying power focused on CTG of state-owned lender VietinBank, and HDB of private mid-sized lender HDBank.

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