VN-Index posts biggest single-session loss in two years
An investor frustrated by declining stocks at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam’s benchmark VN-Index fell 4.7% to 1,216.61 points Monday, the largest single-day decline it has seen since May 12, 2022.
The index closed 59.99 points lower after gaining 18.4 points last Friday.
Trading on the Ho Chi Minh Stock Exchange increased by 39% to VND33.567 trillion (US$1.33 billion).
The VN-30 basket, comprising the 30 largest capped stocks, saw 29 fell.
MSN of conglomerate Masan Group saw the steepest drop, down 7.0%, while BID of state-owned lender BIDV slid 6.93% and SSI of brokerage SSI Securities Corporation closed 6.92% lower.
BCM of Becamex Investment and Industrial Development fell 6.89%, followed by GVR of Vietnam Rubber Group with a 6.87% decline and VRE of retail real estate arm Vincom Retail with a 6.83% decrease.
Only one blue chip gained, which was SHB of the Saigon – Hanoi Commercial Joint Stock Bank, up 0.4%.
Foreign investors were net seller to the tune of VND1.24 trillion, mainly selling CTG of state-owned lender VietinBank and MBB of state-owned MB Bank.
The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 4.82%, while the UPCoM-Index for the Unlisted Public Companies Market went down 2.44%.
