The Vietnamese stock market fell for the third day in a row, weighed by persistent strong profit-taking pressure. However, foreign investors were still net buyers on two main exchanges.
On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index dipped to 1,103.4 points, down 18.25 points, or 1.63 percent. For the last three sessions, it had lost over 55 points.
Sell-off activities appeared continuously at the end of the session, like in the previous session. However, bottom-fishing cash flow returned strongly to the market, improving the market’s liquidity and keeping the benchmark above the 1,100-point level.
Specifically, the trading value on HoSE jumped more than 60.7 percent over the previous session to nearly VND21.86 trillion (US$889.5 million), while the trading volume also increased 70.5 percent to more than 1.03 billion shares.
The market’s breadth was negative, with 293 losers and 43 winners.
The VN30-Index, tracking the 30 biggest stocks on HoSE, tumbled 15.47 points, or 1.36 percent, to 1,125.56 points. In the VN30 basket, 25 stocks fell, two gained and three ended unchanged.
The HNX-Index on the Hanoi Stock Exchange (HNX) also extended losses. It fell more than 2.9 points, or 1.27 percent, to 227.11 points.
Investors poured over VND2.6 trillion into the northern bourse, equivalent to a trading volume of 130.2 million shares.
Of the top five stocks influencing the market’s downtrend, the lender BIDV (BID) posted the biggest loss of 3.15 percent. It was followed by Vinhomes (VHM) down 2.7 percent, PV Gas (GAS) down 2.58 percent, Hoa Phat Group (HPG) decreasing by 3.23 percent and Masan Group (MSN) sliding by 3.8 percent.
In contrast, some stocks in the securities, transportation, manufacturing, and oil and gas industries still performed positively on Wednesday.
Leading the bullish trend was Vietjet Aviation JSC (VJC), with a gain of 1.94 percent. Other stocks like PV Drilling (PVD), VIX Securities JSC (VIX), Duc Giang Chemicals Group (DGC), and South Logistics JSC (STG) soared at least 3 percent.
Also supporting the bullish sentiment, foreign investors continued to net buy on HoSE and HNX. Particularly, they net bought more than VND553 billion on the southern bourse and VND14.32 billion on HNX.
