VN-Index drops 1.1%

By Dat Nguyen   April 23, 2024 | 06:19 am PT
VN-Index drops 1.1%
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 on Tuesday fell 1.08% to 1,177.40 points as it struggled to bounce back from a near three-month low.

The index closed 12.8 points lower after gaining 15.4 points in the previous session.

On Friday it closed at the lowest since Feb. 2 at 1,174.85 points.

Trading on the Ho Chi Minh Stock Exchange, on which the index is based, rose 9.5% to VND17.49 trillion ($687 million) Tuesday.

The VN30 basket, comprising the 30 largest capped stocks, saw 24 tickers fell.

BCM of Becamex Investment and Industrial Development plunged the steepest with a 4.2% loss, followed by GVR of Vietnam Rubber Group, down 3.8%.

MSN of conglomerate Masan Group declined by 3.3% and VHM of property giant Vinhomes closed 3% lower.

Six blue chips bucked the trend, led by MWG of electronics retail chain Mobile World with a 2.5% rise.

Foreign investors were net sellers to the tune of VND292 billion, mainly selling VHM and DIG of Development Investment Construction.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 1.19% while the UPCoM-Index for the Unlisted Public Companies Market dropped 0.58%.

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