Stock dives to 5-week low

By Dat Nguyen April 25, 2023 | 01:56 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 0.63 percent to 1034.85 points Tuesday, lowest in five weeks.

The index closed 6.51 points lower after losing 1.55 points on Monday.

Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 3% to VND9.42 trillion ($401.14 milllion).

The VN-30 basket, comprising the 30 largest capped stocks, saw 27 tickers lose.

MSN of conglomerate Masan Group fell 2.7%, followed by HDB of HDBank and NVL of property developer Novaland Group, both with a 2.1% drop.

STB of Ho Chi Minh City-based lender Sacombank lost 2%, and PDR of Phat Dat Real Estate Development closed 1.9% lower.

Only two blue chips gained. HPG of steelmaker Hoa Phat Group rose 1.9% and VCB of state-owned lender Vietcombank went up 0.5%.

Foreign investors were net sellers to the tune of VND139.72 billion, mainly selling VIC of private conglomerate Vingroup and STB of Ho Chi Minh City-based lender Sacombank.

The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was down 1.00% while the UPCoM-Index at the Unlisted Public Companies Market was up by 0.12%.