Shares slide on strong selling pressure | stock Exchange

Customers of a branch of the Military Bank (MBB). MBB lost 1.3 percent on Thursday. Photo courtesy of MBB

On the Hanoi Stock Exchange (HoSE), the benchmark VN-Index plunged 1.40% to end Thursday at 1,456.96 points.

It fell 0.07% to close Wednesday at 1,477.67 points.

The market width was negative with 141 winners and 335 losers.

Liquidity reached a new record with 1.36 billion shares traded on the Southern Stock Exchange, valued at nearly 45.6 trillion dong (US $ 2 billion).

The VN30 index, which tracks the 30 largest stocks on HoSE, fell 1.78% to end at 1,477.37 points. Twenty-two of the 30 stocks in the VN30 basket posted losses, while four rose.

Banking and Securities performed poorly with many losers such as Military Bank (MBB), Asia Commercial Bank (ACB), Bank for Investment and Development of Vietnam (BID), VPBank (VPB), Sacombank (STB), Vietcombank (VCB), Tien Phong Bank (TPB), Techcombank (TCB), SSI Securities Inc (SSI), FPT Securities Joint Stock Company (FTS), Ho Chi Minh City Securities Corporation (HCM), Viet Capital Incorporation (VCI), SSI Securities Incorporation (SSI), Agribank Securities Corporation (AGR) and APG Securities Joint Stock Company (APG).

The mainstays of the steel group also lost ground, notably Hoa Phat Group (HPG) and Hoa Sen Group (HSG).

Oil stocks attracted strong cash flow as a series of group stocks gained traction, such as Vietnam National Petroleum Group (PLX), PVPower (POW), PetroVietnam Gas JSC (GAS), PetroVietnam Drilling & Well Services Corporation (PVD), PV OIL (OIL), Binh Son Refinery (BSR) and PetroVietnam Technical Services Corporation (PVS).

Nineteen of the stock market’s 25 sector indices posted losses, including securities, IT, retail, banking, rubber production, building materials, logistics, healthcare, food and beverage, real estate, insurance, and seafood production and wholesale.

On the other side, the winners have been agriculture, oil and gas, and construction.

On the Hanoi Stock Exchange (HNX), the HNX index lost 2.32% to end Thursday at 442.61 points.

During the session, investors paid more than 4.5 trillion VND into the market, equivalent to a trading volume of 162 million shares.


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