VN-Index sees biggest losing session in two weeks

The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, saw 305 tickers lose and 146 gain. Total trading volume was at this year’s highest point at VND10.23 trillion ($442.39 million), compared to last month’s average of VND8-9 trillion.

The VN30-Index for the stock market’s 30 largest caps slumped 1.64 percent, with all but one ticker losing.

HPG of steelmaker Hoa Phat Group was the only ticker in the group to close in the green by 0.9 percent.

Topping losses were MSN of food conglomerate Masan Group, down 6.9 percent, VIC of private conglomerate Vingroup, down 5 percent, and TCH of truck dealer Hoang Huy Group, down 2.9 percent.

Other major losers included PNJ of jewelry retailer Phu Nhuan Jewelry, down 2.3 percent, VHM of real estate developer Vinhomes, 2.2 percent, SBT of agricultural firm TTC-Sugar, 2.2 percent, and POW of electricity generator, 2 percent.

Private banks were also among the loss makers. HDB of HDBank dropped 2.5 percent, STB of Sacombank 1.8 percent, VPB of VPBank 1.4 percent, TCB of Techcombank 0.4 percent, and EIB of Eximbank 0.3 percent.

State-owned banks fared slightly better with losses of lesser magnitude. VCB of Vietcombank was down 1.3 percent, BID of BIDV 1 percent, CTG of VietinBank 0.2 percent, and MBB of mid-sized Military Bank, 1.3 percent.

The HNX-Index for the Hanoi Stock Exchange, home to mid- and small-caps, was down 0.95 percent, but the UPCoM-Index for the Unlisted Companies Market gained 0.23 percent.

Foreign investors were net sellers again to the tune of VND400 billion on all three bourses, with selling pressure mostly on HDB of HDBank and CTG of VietinBank.