VN-Index’s freefall continue in 4th losing session

By Dat Nguyen September 26, 2023 | 02:06 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 plunged 1.32% to 1,137.96 points Tuesday morning, its fourth losing session in a row.

The index closed 15.2 points lower after losing nearly 40 points Monday.

It is now at the lowest in 11 weeks.

Trading on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell 8% to VND21.62 trillion ($885 million).

The VN30 basket, comprising the 30 largest capped stocks, saw 19 tickers fell.

GVR of Vietnam Rubber Group hit the floor with a 6.9% decline, followed by VHM of property giant Vinhomes, down 4.3%.

VIC of private conglomerate Vingroup dropped 3.2% while BCM of Becamex Investment and Industrial Development closed 3.1% lower.

Nine blue chips gained, led by MSN of conglomerate Masan Group with a 3.8% rise.

Foreign investors were net buyers to the tune of VND651 billion, mainly buying HPG of steelmaker Hoa Phat Group 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 0.76% while the UPCoM-Index for the Unlisted Public Companies Market dropped 0.30%.