Market meltdown: VN-Index wraps June in bearish sentiment

After a period of fluctuation, the market was unable to find balance due to significant selling pressure, leading to a sharp decline in the last trading session of June, with the VN-Index falling below 1,250 points.


On June 28, the stock market experienced a steep fall, with many stocks dropping, causing the market to be awash in red. The main factor in this decline was the heavy selling by foreign investors, who continued to sell off large volumes, amounting to over VND1.14 trillion on the HOSE.

The financial stocks group continued to plummet. Among banks, only a few stocks managed to buck the trend. Specifically, EIB surged by 3 percent, while SHB and HDB edged up by nearly 1 percent. The rest experienced significant declines, with BID dropping by 1.93 percent, VPB losing by 1.84 percent, OCB retreating by 1.4 percent, STB weakening by 1.37 percent, MBB dipping by 1.33 percent, MSB shrinking by 1.38 percent, LPB reducing by 1.57 percent, and TPB going down by 1.43 percent.

The securities group continued to decline sharply. BVS plunged by 3.67 percent, AGR slumped by 3.39 percent, SHS evaporated by 2.89 percent, FTS cut by 2.76 percent, VIX devalued by 2.38 percent, BSI dismissed by 2.31 percent, and HCM sank by 1.69 percent.

The real estate and construction sector also painted the market red with substantial decreases. CTD slashed by 3.58 percent, TCH demolished by 2.31 percent, DIG narrowed by 2.57 percent, NLG declined by 1.43 percent, BCM collapsed by 2.15 percent, PDR destructed by 2.47 percent, CEO destroyed by 3.51 percent, VCG ruined by 2.93 percent, and NVL fell by 1.85 percent. However, the trio of VIC, VRE, and VHM managed to inch up by nearly 1 percent.

The manufacturing group mirrored the market's downward trend, with many stocks plummeting over 3 percent. DRC hit the floor price, BSR plummeted by 3.98 percent, HSG dropped by 3.82 percent, NKG plunged by 4.46 percent, DCM waned by 3.74 percent, and DBC tailed off by 3.41 percent.

Additionally, the information technology, oil and gas, retail, and transportation sectors also experienced significant declines. FPT decreased by 1.73 percent, HVN went down by 3.35 percent, and PVD contracted by 3.19 percent.

At the close of the trading session, the VN-Index dropped by 13.77 points, or 1.09 percent, to close at 1,245.32 points. Of the listed stocks, 355 declined, 79 advanced, and 61 remained unchanged. On the Hanoi Stock Exchange (HNX), the HNX-Index also fell by 2.48 points, or 1.03 percent, to 237.59 points, with 135 stocks declining, 53 advancing, and 52 staying unchanged. Market liquidity showed improvement, with the total trading value on the HOSE nearing VND20.9 trillion, up nearly VND6 trillion over the previous session.

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