Stocks slip to two-week low

By Dat Nguyen January 31, 2024 | 01:42 am PT

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

Vietnam's benchmark VN-Index fell 1.30% to 1,164.31 points Wednesday, lowest since Jan. 17.

The index closed 15.34 points lower after gaining 3.96 points in the previous session.

Trading on the Ho Chi Minh Stock Exchange increased by 70% to VND23.31 trillion ($954.15 million).

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

SHB of Saigon Hanoi Commercial Bank plunged the steepest at 5.7%, followed by VRE of retail real estate arm Vincom Retail, down 4.1%.

VCB of state-owned lender Vietcombank dropped 2.7% and MSN of conglomerate Masan Group declined by 2.6%.

Three blue chips gained. SSI of leading brokerage SSI Securities Corporation went up 0.7%, while FPT of IT giant FPT Corporation and VNM of dairy giant Vinamilk both inched up 0.1%.

Foreign investors were net buyers to the tune of VND120 billion, mainly buying AIC of Vietnam National Aviation Insurance and SSI of leading brokerage SSI Securities Corporation.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.64%, while the UPCoM-Index for the Unlisted Public Companies Market went down 0.19%.