Negative influences from US stock market cause VN-Index to fall nearly 32 points

After the recovery session on the previous day, Vietnam’s stock market was bearish in the trading session on May 6 because investors’ sentiment was heavily affected by negative fluctuations from the US stock market.

From the beginning of the trading session, many groups of stocks were flooded in red with the selling pressure overwhelming throughout the market, causing the VN-Index to sometimes drop by more than 32 points.

Not only speculative stocks in the FLC and Louis ecosystems, such as FLC, ROS, SMT, APG, TVB, and LDP, hit the floor prices, but securities, banking, and oil and gas stocks also quickly plunged at the end of the trading session. Many securities stocks, namely VCI, SSI, HCM, and VND, were dragged down to the floor prices.

While the whole market plummeted simultaneously, steel stocks and a few other stocks still managed to maintain in green, including HPG, HSG, REE, VHC, VSH, ANV, NLG, and GMD. However, these winning stocks failed to prevent the index from falling deeply.

At the end of the trading session, the VN-Index lost 31.42 points, or 2.31 percent, to close at 1,329.26 points, with 59 gainers, 394 losers, and 29 unchanged stocks.

Closing the trading session on the Hanoi Stock Exchange, the HNX-Index slumped 15.29 points, or 4.26 percent, to finish at 343.46 points, with 38 winners, 195 losers, and 34 unchanged stocks. Although the market liquidity surged by 2 percent compared to the previous trading session, it was still at an extremely low level. The total matching value was more than VND16.72 trillion (US$729.68 million). Foreign investors net sold about VND60 billion ($2.61 million) on the Ho Chi Minh City Stock Exchange.