The market developments were extremely negative due to strong selling pressure on several stock groups. Several blue-chip stocks, including VNM, HVN, VJC, and HCM and real estate stocks, such as DXG, LDG, D2D, TIP, and DPG, all hit bottom. Meanwhile, foreign investors continued to net sell nearly VND20 billion on the market, causing the VN-Index to retreat by nearly 23 points at the end of the trading session.
Vietnam’s benchmark VN-Index wrapped January at 936.62 points with a decrease of 22.96 points, or 2.39 percent. At the same time, the HNX-Index of the smaller bourse in the North slashed 1.68 percent to close at 102.36 points.
The market capitalization was evaporated US$3.4 billion more after losing nearly $5 billion in the previous trading session. Thus, in the first two trading sessions after the lunar New Year, the VN-Index has cut by nearly 55 points and the market capitalization has devalued by nearly $8.5 billion.
Internationally, the indicators of the US’s stock market, including Nasdaq, S&P500, and Dow Jones, made slight increases. On the contrary, China’s Shanghai Composite Index slumped 2.75 percent, and Hong Kong’s Hang Seng Index slid 0.52 percent.