After the recovery session at the end of last week, Vietnam’s stock market opened with downward pressure in the first trading session of the week because many large-cap stocks plunged steeply. Although the Ministry of Public Security has denied the rumor that preventive measures have been imposed on the leader of a large enterprise, the stocks in the Vingroup family, such as VHM, VRE, and VIC, still nosedived by 3-4 percent. Along with that, securities stocks were also sold strongly to take profits, so they went down. Specifically, HCM depreciated 4.3 percent, BVS retreated 3.1 percent, BSI slid 1.9 percent, and VCI shrank 3.5 percent.
Closing the morning trading session, the VN-Index only lost nearly 10 points. However, in the afternoon trading session, due to the low market liquidity, the market shook and saw a strong divergence in many stock groups. Financial stocks, such as banks and securities, continued to plunge, causing the market to fall deeply.
Specifically, among securities stocks, FTS fell to the floor, VCI declined 3.77 percent, HCM sank 6.79 percent, and VND cut 2.7 percent. Among banking stocks, STB dismissed 2 percent, TCB collapsed by 5.19 percent, VPB reduced by 3.85 percent, TPB decreased by 4.1 percent, and VIB shrank by 4.6 percent. This downward pressure contributed to pulling the VN-Index down sharply in the afternoon trading session.
Oil and gas stocks, such as PVS, GAS, and BSR, also ebbed due to the news that the price of natural gas on the international market rose sharply by nearly 5 percent.
The bright spot in the market was real estate stocks, especially industrial real estate, which recouped well, such as IDC with 5.01 percent, KBC with 3.43 percent, and SZC with 2.86 percent. Besides, the group of Vingroup stocks also recovered at the end of the trading session, except for VRE, which still fell by nearly 4 percent. VIC returned to the reference price, and VHM only dipped 0.82 percent, helping to slow down the losing momentum of the VN-Index.
In addition, with the strong hike in pork prices, stocks related to the livestock sector also climbed.
In this trading session, foreign investors net bought about VND5 billion on the HoSE.
Ending the session, the VN-Index fell by 16.02 points, or 1.37 percent, to 1,155.29 points, with 131 gainers, 319 losers, and 65 unchanged stocks. On the Hanoi Stock Exchange, the HNX-Index slid 0.87 points, or 0.31 percent, to close at 276.93 points, with 68 winners, 116 losers, and 47 unchanged stocks.
Market liquidity increased by about 8 percent compared to the previous session, with the total trading value reaching VND11.76 trillion.
