VN-Index slips with plunging trade value

By Dat Nguyen   September 8, 2021 | 01:15 am PT
VN-Index slips with plunging trade value
An investor looks at stock prices on the screens at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam’s benchmark VN-Index slipped 0.62 percent to 1,333.61 points Wednesday with trading value on the main bourse plunging double-digit as Covid-19 figures remain severe.

The index fluctuated around 1,340 points throughout the day before closing with an over 8-point drop. It has lost nearly 13 points in the last two sessions.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, plunged nearly 27 percent to VND19.58 trillion ($857.14 million), lowest in the last seven sessions.

Vietnam recorded 14,193 new Covid-19 cases Tuesday, the third highest since the pandemic began.

The VN30 basket, comprising the 30 largest capped stocks, saw 22 tickers in the red, led by VPB of private lender VPBank with a 2.4 percent drop.

PLX of fuel distributor Petrolimex and STB of Ho Chi Minh City-based lender Sacombank fell 2.2 percent to the lowest in nearly two weeks.

BVH of insurance company Bao Viet Holdings and VIC of biggest private conglomerate Vingroup both dropped 2 percent.

VIC has lost 28 percent since its peak in April 19.

On the other side, SSI of leading brokerage SSI Securities Corporation hit a 6.9 percent gain, rising to a new peak.

PDR of Phat Dat Real Estate Development rose 1.4 percent, while HPG of steelmaker Hoa Phat Group gained 1.2 percent.

Foreign investors were net sellers for the ninth straight session to the tune of VND446 billion with strongest pressure on VHM of real estate giant Vinhomes and VIC.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, gained 0.23 percent while the UPCoM-Index for the Unlisted Public Companies Market fell 0.36 percent.

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