VN-Index tumbles to 20-month low

By Dat Nguyen October 7, 2022 | 02:30 am PT

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

Vietnam’s benchmark VN-Index dropped 3.59% to 1,035.91 points Friday, lowest since February 1 last year.

The index closed 38.61 points lower after losing 29.7 points on Thursday. It has plunged by 79 points so far this month.

Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 53% to VND16.98 trillion ($711.04 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 26 tickers dropped, with eight hitting the floor.

TCB of the largest private lender Techcombank, VPB of private lender VPBank and MWG of electronics retail chain Mobile World were among the biggest losers with a 7% decline.

STB of Ho Chi Minh City-based lender Sacombank, TPB of private TPBank and CTG of state-owned lender VietinBank declined by the same rate.

Only four blue chips gained, led by VJC of budget airline Vietjet with a 0.7% rise. SAB of brewer Sabeco went up 0.6%.

Foreign investors bought the dip with a net purchase of VND259.02 billion, mainly buying VIC of biggest private conglomerate Vingroup and HPG of steelmaker Hoa Phat Group.

The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was down 3.84% while the UPCoM-Index at the Unlisted Public Companies Market was down by 2.95%.