VN-Index dips with plunging trade

By Dat Nguyen   May 4, 2022 | 01:27 am PT
VN-Index dips with plunging trade
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 1.33 percent to 1,348.68 points Wednesday with a double-digit decline in trade as investors remain pessimistic over recovery potential.

The index closed 18 points lower after rising nearly 16 points in the last session before the four-day holiday ending Tuesday, with 301 out of 479 tickers losing.

Trading on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, plunged 23 percent to VND14.45 trillion ($629.29 million).

The VN30 basket, comprising the 30 largest capped stocks, saw 21 tickers in the red, with TPB of private TPBank plunging 4.8 percent to the lowest in over five months.

SSI of leading brokerage SSI Securities Corporation dipped to a near 11-month low with a 4.6 percent fall.

TCB of the largest private lender Techcombank lost 4.5 percent, STB of Ho Chi Minh City-based lender Sacombank fell 3.4 percent, and VRE of retail real estate arm Vincom Retail dropped 3.1 percent.

Eight blue chips gained, led by POW of electricity producer Petrovietnam Power Corporation with a 6.8 percent rise.

Other gainers included GAS of state-owned Petrovietnam Gas, up 1.9 percent, and BVH of insurance company Bao Viet Holdings, up 1.4 percent.

Foreign investors were net sellers to the tune of VND304 billion, mainly selling KDH of real estate firm Khang Dien House and DGC of Duc Giang Chemicals Group.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, dropped 1.33 percent while the UPCoM-Index for the Unlisted Public Companies Market fell 0.28 percent.

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