Foreign investors dump shares, VN-Index makes correction for second session

Although there were attempts to minimize the decrease compared to the steepest drop in the trading session, the VN-Index still marked its second consecutive decline.

Foreign investors opted to "sell-off," with a total net selling value exceeding VND940 billion on the HOSE floor.

On February 22, the stock market experienced reduced liquidity. The session opened with a decline under high selling pressure. While the VN-Index initially dropped nearly 8 points, it later recovered some ground by the session's close.

After the previous session's rebound, banking stocks in today's trading session were flooded in red, with VCB falling by 1.86 percent, STB retreating by 1.43 percent, HDB slashing by 2.55 percent, OCB reducing by 1.27 percent while MBB, MSB, VPB, EIB, ACB, and LPB seeing drops of nearly 1 percent. However, a few stocks posted gains, including TCB with an increase of 3.33 percent, SHB with an increase of 1.68 percent, VIB, TPB, and CTG with an increase of nearly 1 percent.

The securities stock group also leaned towards the red. Specifically, VIX declined by 1.63 percent, SHS lowered by 1.12 percent, VCI diminished by 1.23 percent, HCM shrank by 1.12 percent, BSI sank by 1.68 percent, FTS slid by 1.35 percent while SSI, VND, and CTS slid by nearly 1 percent.

Although there was some divergence within the real estate - construction stock group, the decliners outnumbered the gainers and saw more significant drops. NVL fell by 1.44 percent, PDR by 1.36 percent, DXG by 1.33 percent, CEO by 1.38 percent, BCM by 1.06 percent, HDC by 1.26 percent, HUT by 1.04 percent, KDH by 1.22 percent; VHM, DIG, VCG, HDG, and TCH dropped by nearly 1 percent. Conversely, NTL rose by 2.38 percent, VRE by 1.54 percent, SZC by 1.07 percent, BCG by 1.76 percent, ITA by 2.15 percent, CII, VIC, and CTD gained by nearly 1 percent.

Following a series of steep declines amid concerns of delisting, HNG shares of HAGL Agrico soared to the ceiling price at VND4,330 per share as the company revealed positive prospects for its large-scale livestock and crop farming project in Laos.

At the close of the trading session, the VN-Index lost by 2.73 points, or 0.22 percent, to 1,273.31 points, with 263 stocks declining, 217 advancing, and 77 unchanged.

Conversely, the HNX-Index at the Hanoi Stock Exchange edged up by 0.17 points, or 0.07 percent, to 234.01 points, with 83 stocks climbing, 77 falling, and 73 remaining flat.

Market liquidity reduced significantly, with total trading value on the HOSE reaching only around VND18 trillion, down VND4.6 trillion from the previous session.

Foreign investors switched to selling, adding pressure to the market. Their net selling value on the HOSE soared to VND940 billion after two previous sessions of marginal net buying.

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