VN-Index on 4-session losing streak as European stocks decline

By Minh Hieu October 7, 2024 | 02:16 am PT

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 0.05% to 1,269.93 points Monday in its fourth consecutive losing session while European shares slipped.

The index closed 0.67 points lower after dropping 7.50 points in the previous session.

Trading on the Ho Chi Minh Stock Exchange decreased by 14% to VND11.849 trillion (US$476.7 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 16 tickers fell.

SSB of SeABank went down 2.3%, VNM of dairy giant Vinamilk slipped 2.0%, and HDB of HDBank saw a 1.6% drop.

Eleven bluechips gained. STB of Ho Chi Minh City-based lender Sacombank led with a 2.1% increase, followed by TPB of lender TPBank with a 1.4% growth and SSI of brokerage SSI Securities Corporation, up 1.1%.

Foreign investors were net seller to the tune of VND339 billion, mainly selling VPB of private lender VPBank and HDB.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.09%, while the UPCoM-Index for the Unlisted Public Companies Market went up 0.11%.

Globally, shares in Europe, which had risen in the aftermath of the jobs data, dipped 0.2% on Monday with those like banks that benefit from higher rates gaining and real estate, which does not, falling, Reuters reported.

U.S. S&P500 futures fell 0.3%, though the index gained 0.9% Friday, and is back around all time highs.

Asia shares rose, though Chinese onshore markets remain on holiday until Tuesday, with investors waiting to see whether the surge in stocks on news of incoming economic stimulus will continue.