11 blue chips dive to floor price

By Dat Nguyen November 15, 2022 | 12:26 am PT

An investor looks at stock prices on a laptop at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran

Vietnam’s benchmark VN-Index closed 3.1% lower Tuesday, a new bottom this year, with 11 blue chips hitting floor price.

The index fell 29 points after losing 13 points Monday. It has fallen 39% this year and is now lowest since October 2020.

Trading on the main bourse Ho Chi Minh Stock Exchange rose 3.7% to VND9.8 trillion ($395.72 million).

The VN30 basket, comprising the 30 largest capped stocks, saw 26 tickers in the red.

Eleven blue chips hit the floor, losing by around 7%, including BID of state-owned lender BIDV, GVR of Vietnam Rubber Group and PDR of Phat Dat Real Estate Development.

ACB of Asia Commercial Bank fell 5.9%, and STB of Ho Chi Minh City-based lender Sacombank lost 4.7%.

Four blue chips bucked the trend, led by VIC of biggest private conglomerate Vingroup with a 3.6% rise.

HPG of steelmaker Hoa Phat Group followed with a 2.5% increase.

Foreign investors continued to pour money in to buy the dip with a net purchase of VND1.18 trillion, mainly buying STB and HPG.