VN-Index posts largest decrease in 3 weeks

By Dat Nguyen October 21, 2022 | 01:35 am PT

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 3.65% to 1,019.82 points Friday, its steepest decline since October 3.

The index closed 38.6 points lower after losing 1.6 points on Thursday.

Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 74% to VND14.62 trillion ($588.75 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 28 tickers dropped.

Six blue chips closed on the floor with a 7% fall, including STB of Ho Chi Minh City-based lender Sacombank, CTG of state-owned lender VietinBank and SSI of leading brokerage SSI Securities Corporation.

Other decliners were TCB of the largest private lender Techcombank, GVR of Vietnam Rubber Group and MWG of electronics retail chain Mobile World.

MSN of conglomerate Masan Group plunged 6.7%, and HPG of steelmaker Hoa Phat Group dropped 6.6%.

SAB of brewer Sabeco was the only gainer with a 0.9% rise.

Foreign investors were net sellers to the tune of VND439.80 billion, mainly selling HPG and VHM of property giant Vinhomes.

The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was down 3.75% while the UPCoM-Index at the Unlisted Public Companies Market was down by 2.74%.