Shares decline, dragged by market heavyweights

HÀ NỘI — Vietnamese shares declined on Thursday, dragged by market heavyweights as selling pressure increased significantly towards the closing minutes of trading.

The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) declined 0. 七 三 per cent, to finish the trading day at  一, 四 七0. 七 六 points.

It had risen 0. 一 四 per cent to close Wednesday at  一, 四 八 一. 五 八 points.

The market breadth was negative as  二 九 一 stocks declined while  一 五 一 rose and  五 四 ended flat.

The market’s liquidity was lower than the previous session with nearly  五 六 五 million shares traded on the southern market, worth VNĐ 一 七 trillion (US$ 七 五0. 四 million).

The market witnessed strong volatility at the end of the trading session. A series of large stocks dropped sharply, extending the decrease of the VN-Index such as FPT Corporation (FPT), PetroVietnam Gas JSC (GAS), Hòa Phát Group (HPG), Masan Group (MSN), Mobile World Group (MWG), Novaland (NVL) and Vinhomes (VHM).

The banking group performed poorly at the end of the session, with Asia Co妹妹ercial Bank (ACB), Vietinbank (CTG), Techcombank (TCB), VPBank (VPB), Military Bank (MBB), Sacombank (STB) and Eximbank (EIB) all falling.

On the positive side, securities stocks gained strongly and helped lessen the market’s fall, with gainers such as FPT Securities Joint Stock Company (FTS) and Ho Chi Minh City Securities Corporation (HCM), Việt Capital Incorporation (VCI), SSI Securities Incorporation (SSI), Agribank Securities Corporation (AGR) and APG Securities Joint Stock Company (APG).

The  三0 biggest stocks tracker, VN 三0-Index, lost 0. 五 七 per cent to finish at  一, 五 一 六. 五 七 points.

Of the VN 三0 basket,  一0 stocks increased while  一 七 decreased.

On a sector basis,  一 八 out of  二 五 sectors decreased, such as wholesale, seafood processing, real estate, agriculture, home appliance production, rubber production, information and technology, retail, healthcare, banking, construction materials.

On the other side, gainers were oil and gas, insurance, securities, food and beverage, and logistics.

Meanwhile, on the Hà Nội Stock Exchange (HNX), the HNX-Index lost 0. 一 三 per cent to close at  四 一 一. 二 七 points.

The northern market index had gained 0. 三 九 per cent, to close Wednesday at  四 一 一. 八 二 points.

During the session, over  五 一. 七 million shares were traded on HNX, worth VNĐ 一. 六 trillion. — VNS