Although VIC cushions the market, VN-Index shrinks 8 points

After the sharp decline the previous day, Vietnam’s stock market continued to retreat in the trading session on December 7. Although the VN-Index only lost by nearly 8 points, many stocks fell to the floor, especially real estate stocks. VIC shares alone hit the ceiling price of VND71,200 per share, contributing to curtailing the losing momentum by nearly 5 points.

The trio of real estate stocks that fell to the floor for many consecutive sessions in the past time was NVL, HPX, and PDR. In this trading session, NVL and HPX also dropped to the floor and saw a selling surplus volume of 17.9 million shares and more than 25 million shares, respectively. PDR alone also fell to the floor in the trading session, but recovered strongly by 1.9 percent to 15,800 dong/share at the end of the session.

Except for VIC, which gained to the daily maximum limit, and a few other stocks that rallied quite well, such as MWG with an increase of 1.13 percent, KDH with 1.18 percent, and CTG with 1.3 percent, many pillar stocks continued to weaken. Many stocks plunged sharply, such as VPB with a decrease of 4.14 percent, VCB with 1.88 percent, TCB with 2.4 percent, MBB with 2.26 percent, STB with 2.17 percent, HDB with 3.05 percent, GAS with 2.47 percent, and GVR with 3.78 percent, putting great pressure on the index.

Foreign investors were still the bright spot of the market as they continued to extend the net buying streak on the HoSE with more than VND1 trillion in today's session.

At the end of the session, VN-Index slid 7.67 points, or 0.73 percent, to 1,041.02 points, with 360 losers, 101 winners, and 46 unchanged stocks. Closing the session on the HNX, the HNX-Index also sank 2.87 points, or 1.35 percent, to 209.93 points, with 154 decliners, 44 advancers, and 33 unchanged stocks. 

Market liquidity was fairly high, with a total trading value of more than VND16 trillion, of which HoSE accounted for more than VND14 trillion.