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VN-Index slips with record-high trading value

By Dat Nguyen   November 3, 2021 | 01:32 am PT
VN-Index slips with record-high trading value
An investor looks at stock prices on a screen at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam’s benchmark VN-Index dropped 0.56 percent to 1,444.3 points Wednesday, but with trading value surging to a new historic record as investors hold high hopes for a bullish market.

The index traded in a narrow band throughout the day and closed eight points lower. It closed in the red for the second time in the last seven sessions.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, surged nearly 50 percent to a new peak of VND43.21 trillion ($1.9 billion).

This exceeded the previous record on Aug. 20, when the market plunged 45 points.

The VN30 basket, comprising the 30 largest capped stocks, saw 15 tickers losing, led by GVR of Vietnam Rubber Group, down 6.7 percent from its peak.

Three real estate stocks followed: KDH of real estate firm Khang Dien House dropped 6.3 percent to a one-week low, while NVL of real estate developer Novaland Group and VHM of real estate giant Vinhomes fell 2.7 percent and 2.5 percent respectively.

PLX of fuel distributor Petrolimex lost 2.4 percent to the lowest since Oct. 22.

Thirteen blue chip stocks gained, led by two banks: HDB of HDBank, up 6.2 percent, and STB of HCMC-based lender Sacombank, up 4.7 percent.

Foreign investors turned net buyers to the tune of VND282 billion, with strongest pressure on HPG of steelmaker Hoa Phat Group and GEX of electrical equipment producer Gelex Group.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 1.98 percent, while the UPCoM-Index for the Unlisted Public Companies Market gained 0.05 percent.

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