VN-Index falls to seven-day low

By Dat Nguyen   February 24, 2021 | 02:29 am PT
VN-Index falls to seven-day low
An investor looks at stock prices on a laptop at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
Vietnam’s benchmark VN-Index dropped 1.33 percent to 1,162.01 points Wednesday, the lowest since February 17, with foreign investors once again turning net sellers.

The index stayed mostly in the green during the morning but plunged early afternoon and ended with a 15.63-point decrease.

Trading volume on the Ho Chi Minh City Stock Exchange (HoSE), on which the index is based, fell 2.5 percent to VND15.02 trillion ($652 million). The bourse saw 93 stocks gain and 357 lose.

The VN30 basket, which comprises the 30 largest capped stocks on the HoSE, saw 26 tickers in the red, led by TCH of trucks distributor and assemblers Hoang Huy Investment Financial Services Jsc, down 3.3 percent.

It was followed by STB of Ho Chi Minh City-based lender Sacombank and VHM of real estate giant Vinhomes, both down 2.4 percent.

The rest of the top five losers were BID of state-owned lender BIDV, down 2.2 percent; and TPB of private TPBank, down 2 percent.

In terms of trading volume, VIC of biggest conglomerate Vingroup, VCB of state-owned lender Vietcombank and VHM were the top tickers that dragged the VN-Index down.

Only four blue chips ended in the green, led by CTG of state-owned lender VietinBank, up 1.2 percent, and REE of industrial appliance maker Refrigeration Electrical Engineering Corporation (REE), up 1.1 percent.

Foreign investors were net sellers for the fourth session in a row to the tune of VND684 billion, with selling pressure highest on VNM of dairy giant Vinamilk, VHM and FPT of IT giant FPT Corporation.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.37 percent, while the UPCoM-Index for stocks on the Unlisted Public Companies Market dropped 0.32 percent.

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