VN-Index ends gaining spree with 13-point drop

The index closed with a 13-point fall, the biggest loss in a day in over four weeks, sending it to the 1,300 range that it broke Tuesday.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, rose 11 percent to this year’s highest. The bourse saw 322 tickers losing and 101 gaining.

The VN30 basket, comprising the 30 largest capped stocks, saw 22 stocks in the red with tickers of three lenders, Vietcombank, BIDV and Techcombank pulling VN-Index down by 4.3 points.

VCB of state-owned lender Vietcombank fell 1.7 percent, having fluctuated around VND94,000 in over four months.

It has been among the worst-performing banking stocks this year with a less than 1-percent gain since earlier this year while the VN-Index has risen 18 percent.

BID of state-owned lender BIDV fell 2.7 percent to the same level at which it had started the year.

TCB of the largest private lender Techcombank fell 2.7 percent after seven consecutive gaining sessions. It has gained 63 percent this year.

Other major blue-chip losers include SSI of leading brokerage SSI Securities Corporation, down 3.3 percent, MSN of conglomerate Masan Group, down 3.2 percent and MBB of Military Bank, down 2.7 percent.

Only six tickers managed to buck the trend, led by KDH of real estate firm Khang Dien House with a 5.1 percent gain, followed by PDR of Phat Dat Real Estate Development, up 3.6 percent and NVL of real estate developer Novaland Group, up 1.9 percent.

Foreign investors were net buyers for the second session in a row to the tune of VND62 billion, with strongest pressure on PLX of fuel distributor Petrolimex and VNM of dairy giant Vinamilk.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.13 percent while the UPCoM-Index for the Unlisted Public Companies Market rose 1.23 percent.