Vietnam stocks plummet to 3-week low while Asian markets rise

By Dat Nguyen   September 10, 2024 | 01:51 am PT
Vietnam stocks plummet to 3-week low while Asian markets rise
An investor looks at stock prices on a smartphone at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam's benchmark VN-Index fell 0.99% to 1,255.23 points Tuesday, lowest since Aug. 16, while Asian shares inched up from a one-month low.

The index closed 12.50 points lower after dropping 6.23 points in the previous session.

Trading on the Ho Chi Minh Stock Exchange increased by 33% to VND15.60 trillion (US$632 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 24 tickers fell.

SSB of SeABank plunged 6.1%, followed by VRE of retail real estate arm Vincom Retail with a 4.5% drop.

HPG of steelmaker Hoa Phat Group and TCB of the largest private lender Techcombank both declined by 1.8%.

Five blue chips bucked the trend. VJC of budget airline Vietjet closed 1.2% higher and TPB of private TPBank ended with a 1.1% increase.

Foreign investors were net sellers to the tune of VND386 billion, mainly selling FPT of IT giant FPT Corporation and MSN of conglomerate Masan Group.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.76%, while the UPCoM-Index for the Unlisted Public Companies Market went down 0.69%.

Asian stocks inched slightly higher on Tuesday but struggled to sustain an upbeat rally on Wall Street as concerns about a faltering Chinese economy dampened the market mood, Reuters reported.

MSCI's broadest index of Asia-Pacific shares outside Japan was last up a marginal 0.05%, languishing near a one-month low hit in the previous session. Its gains were capped by a slump in Chinese stocks.

China's CSI300 blue-chip index fell to a seven-month trough and last traded 0.17% lower, while the CSI Tourism Index, tumbled to a record low, underscoring the country's anemic consumer demand.

 
 
go to top