Vietnamese shares suffer on large cap bank losses

Vietnamese shares ended in negative territory as large-cap banking stocks lost steam in the beginning of the month.
Vietnamese shares ended in negative territory on October 1. (Photo: VNA)
Vietnamese shares ended in negative territory on October 1. (Photo: VNA)

The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HOSE) fell 4.25 points to close at 1,012.88 points. A total 247.8 million shares were traded at a total value of over 5.9 trillion VND (253.67 million USD) on the day.

There were 122 advancers and 178 decliners.

Meanwhile, the HNX Index on the Hanoi Stock Exchange (HNX) dropped 0.76 point to end at 115.52 points. The market breadth was negative with 79 gaining codes and 71 declining ones.

Large-cap banking stocks were putting pressure on the markets, including Vietinbank (CTG) decreasing 1.8 percent, Vietcombank (VCB) down 0.8 percent, Techcombank (TCB) 1.7 percent, and BIDV (BID) 1.3 percent.

Dairy producer Vinamilk (VNM) and flyer Vietjet Aviation JSC (VJC) also suffered losses, with respective falls of 0.7 percent and 2 percent.

Although oil and gas stocks eked out a strong rise, they are unable to sustain the market. PetroVietnam Gas (GAS) increased 3.4 percent to 119,600 VND per share. PetroVietnam Coating Corp (PVB), PetroVietnam Drilling and Well Services (PVD), and PetroVietnam Technical Services Corporation (PVS) surged 3.9 percent, 4.8 percent, and 0.4 percent, respectively.

Financial stocks declined to red margins, with Saigon Securities Incorporation (SSI), VNDirect Securities Co (VND), Sai Gon-Hanoi Securities (SHS), and Viet Capital Securities JSC (VCI) being the largest losers, falling down by 0.9 percent, 1.5 percent, 1.8 percent, and 0.9 percent respectively.

Foreign investors continued to net buy this session. On the HoSE, foreigners net bought nearly 7.3 million shares at 89.55 billion VND (3.85 million USD).

VJC, VCB, VNM, and VHM were on the foreign players’ top net-sold list.

On the HNX, they net sold 626,926 units with a value of 13.83 billion VND (594,000 USD). 

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