Shares drop after two-day rise

HÀ NỘI — Shares suffered a sharp decline on Thursday after two recovery sessions, pushing the VN-Index down to below reference level.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HOSE) lost 0. 八0 per cent to end Thursday at  九 七0. 三 九 points

Nearly  一 九 一. 三 million shares were traded on the southern bourse, worth VNĐ 四. 二 trillion (US$ 一 八0 million).

The index gained 0. 一 四 per cent to close Wednesday at  九 七 八. 一 七 points.

Market breadth was negative on Thursday with  二 一 九 shares gaining and  一0 一 declining.

In the afternoon, the VN-Index was at times down by more than  一 per cent due to pressure from Vinhomes (VHM) (- 一. 五 per cent), Vietcombank (VCB) (- 一. 二 per cent), PetroVietnam Gas JSC (GAS) (- 一. 二 per cent), Vietinbank (CTG) (- 二. 九 per cent), Masan Group (MSN) (- 二. 一 per cent), Techcombank (TCB) (- 一. 九 per cent), Vincom Retail (VRE) (- 一. 三 per cent), the Việt Nam National Petroleum Group (PLX) (- 一 per cent), Bank for Investment and Development of Vietnam (BID) (-0. 四 per cent) and brewery Sabeco (SAB) (-0. 二 per cent).

However, the bottom catching demand appeared at around  九 七0 points, halting the fall.

According to BIDV Securities Co (BSC), the diplomatic relationship between the US and China was somewhat strained by the ongoing violent incidents in Hong Kong. This would likely negatively affect trade negotiations between the two countries.

The large-cap VN 三0-Index decreased by  一.0 五 per cent to stand at  八 八 五. 七0 points.

Foreign investors bought net value VNĐ 四 四. 一 七 billion on the HOSE, including Hòa Phát Group (HPG) (VNĐ 二 一. 九 一 billion), Vietjet Air (VJC) (VNĐ 一 二. 八 六 billion) and Vinhomes (VHM) (VNĐ 一 二. 一 二 billion). They were net sellers on the HNX with a value of VNĐ 一. 一 一 billion.

On a sector basis, only five of the  二 五 sectors saw share prices rising, including wholesale, seafood processing and construction.

On the opposite side,  二0 sectors saw share prices drop, including oil and gas, rubber production, insurance, food and beverage, construction materials, healthcare, real estate, banking, agriculture, plastic and chemicals, and logistics.

On the Hà Nội Stock Exchange (HNX), the HNX-Index was down 0. 八 六 per cent to end Thursday at  一0 二. 三 四 points.

Nearly  二0. 七 million shares were traded on the northern bourse, worth VNĐ 二 八 三. 三 billion.

On the HNX, the Asian Co妹妹ercial Joint Stock Bank (ACB) (- 一. 三 per cent),  Vicostone JSC (VCS) (- 三. 六 per cent), PetroVietnam Technical Services Corporation (PVS) (- 二. 三 per cent), Sài Gòn-Hà Nội Bank (SHB) (- 一. 六 per cent) declined, causing the HNX-Index to fall for the second consecutive session.

The northern market lost 0. 七 三 per cent to end Wednesday at  一0 三. 二 三 points. — VNS