HNX hits ground zero

illustration photo

The benchmark HNX-Index hit a record low of 68.6 points, down 0.95 points or 1.37 per cent. Most of the bourse declined or was unchanged, with just 66 stocks adding.

Major stocks sunk into the red with Kim Long Securities (KLS), VnDirect Securities (VND), Bao Viet Securities (BVS) losing 3-4 per cent. Real estate stocks Vietnam Construction and Import-Export (VCG) and SongDa Infrastructure Construction (SDH) sharply shed.

PetroVietnam Construction (PVX), PetroVietnam Southern Gas (PGS) and PetroVietnam Northern Gas (PVG) also lost 2.5-4 per cent despite the outperforming business results of those petroleum enterprises.

Trading volumes fell to 21 million shares and value was down to VND203.43 billion ($9.93 million).

Foreigners also kept net selling on the bourse, of which they sold VND3.4 billion ($165,000) worth of shares.

Major stocks also largely declined on the main Ho Chi Minh Stock Exchange (HoSE) bourse, led by Bao Viet Holdings (BVH), Kinhbac City Development Share Holding Corp. (KBC) and Sacom Development and Investment Corp. (SAM) hit the floor.

Saigon Securities Inc. (SSI), PetroVietnam Finance (PVF) and other financial shares also strongly dropped. FPT Corp. (FPT) and Hoa Phat Group (HPG) were also among decliners.

In contrast, a few blue-chips like Masan Group (MSN), Vinpearl Tourism and Trading (VPL) and Hoang Anh Gia Lai (HAG) significantly gained support.

The VN-Index ended the session at 401.95 points, down 3.75 points or 0.92 per cent.

Liquidity reached 22.32 million shares worth VND436.4 billion ($21.3 million), helped by put-through rising to 6.5 million shares worth VND167 billion ($8.1 million).

Decliners amounted to 144 stocks, doubling 74 advancers. Among them, up to 46 stocks hit the floor.