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VN-Index drops near historic peak

By Dat Nguyen   November 18, 2021 | 02:14 am PT
VN-Index drops near historic peak
An investor points at stock prices on a screen at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam’s benchmark VN-Index dropped 0.41 percent to 1,469.83 points Thursday, with last minute-selling pressure preventing it from reaching another new peak.

The index stayed in the green most of the day but closed six points lower due to a large number of selling orders in the last hour of trading.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, surged 34 percent to VN34.93 trillion ($1.54 billion), the highest in the last five sessions.

The VN30 basket, comprising the 30 largest capped stocks, saw 23 tickers in the red, led by GAS of state-owned Petrovietnam Gas, down 3.1 percent to a three-week low.

HPG of steelmaker Hoa Phat Group closed in the red for the fourth session in a row, falling 2.8 percent to the lowest since Sep. 1.

ACB of Asia Commercial Bank dropped 2.4 percent to a three-week low, while VPB of private lender VPBank lost 2.1 percent to the lowest since Oct. 6.

VIC of biggest private conglomerate Vingroup lost 1.9 percent as its subsidiary VinFast launched two electric cars at Los Angeles Auto Show 2021.

Meanwhile, SSI of leading brokerage SSI Securities Corporation surged 7 percent after announcing it would issue rights to shareholders to buy more stocks.

POW of electricity producer Petrovietnam Power Corporation closed 3.5 percent higher. It is now at its highest since June 2019.

Foreign investors were net sellers for the second session to the tune of VND472 billion. They focused on selling SSI and HPG.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 1.25 percent, while the UPCoM-Index for the Unlisted Public Companies Market gained 1.17 percent.

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