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VN-Index posts 3rd straight plunge

By Dat Nguyen   November 22, 2021 | 02:02 am PT
VN-Index posts 3rd straight plunge
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 0.35 percent to 1,447.25 points Monday, its third session in the red, even as investors poured big bucks into banking stocks.

The index started off the week with a five-point slip. In the last three sessions, it has lost nearly 29 points.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell 18 percent to VND36.58 trillion ($1.61 billion).

The VN30 basket, comprising the 30 largest capped stocks, saw 19 tickers in the green, led by eight banking stocks.

HDB of HDBank surged 7 percent to a new peak in its third green session. TPB of private TPBank also hit a new peak with a 6.9 percent gain.

CTG of state-owned lender VietinBank rose 5.2 percent to the highest in three months.

Other gaining banking stocks include MBB of lender MB and STB of Ho Chi Minh City-based lender Sacombank, both up 3.2 percent.

Ten blue chip tickers fell, with POW of electricity producer Petrovietnam Power Corporation losing 6.5 percent, and KDH of real estate firm Khang Dien House, 6.3 percent.

Foreign investors ended a chain of three net selling sessions with a net purchase of VND504 billion, focusing on VHM of real estate giant Vinhomes and CTG of state-owned lender VietinBank.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 2.06 percent while the UPCoM-Index for the Unlisted Public Companies Market lost 1.13 percent.

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