VN-Index records biggest day loss since January

By Dat Nguyen   July 19, 2021 | 01:17 am PT
VN-Index records biggest day loss since January
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 lost 4.29 percent to 1,243.51 points Monday, its biggest loss in a day since January, with tickers of four blue-chip lenders hitting floor prices.

The index was on a downward trend throughout the day and closed with a near 56-point loss. It is now at its lowest since May 7.

VN-Index has lost over 12 percent this month with HCMC and 16 other southern localities being put under strict social distancing measures while Hanoi has tightened restrictions amid fear of another outbreak.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, surged 41 percent to VND21.85 trillion ($948 million), highest in the last five sessions.

The VN30 basket, comprising the 30 largest capped stocks, saw 29 tickers in the red.

Four lenders, TCB of largest private lender Techcombank, VPB of private lender VPBank, CTG of state-owned lender VietinBank, and TPB of private TPBank saw their prices hitting the floor with a 6.9-7 percent drop.

MWG of electronics retail chain Mobile World also fell 6.9 percent.

SSI of leading brokerage SSI Securities Corporation fell 6.6 percent, while HPG of steelmaker Hoa Phat Group fell 5.2 percent.

The only blue chip ticker that gained was KDH of real estate firm Khang Dien House, up 0.9 percent.

Foreign investors ended a chain of three net buying sessions with a net sale of VND101 billion, with strongest pressure on KDH and HPG.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 5.1 percent, while the UPCoM-Index for the Unlisted Public Companies Market dropped 3.21 percent.

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