Market extends losses due to strong sell-off

August 29, 2022 | 15:56

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Shares fell sharply on Monday morning as selling pressure weighed on market sentiment.

On the Ho Chi Minh Stock Exchange (HoSE), the benchmark VN-Index plunged 30.3 points, or 2.36 per cent, to 1,252.27 points.

The market's breadth was negative, while liquidity rose over the previous session. Of which, the matching value on the southern bourse increased by 33.9 per cent to VND11.4 trillion (US$488.7 million), equivalent to a matching volume of 490 million shares.

Market extends losses due to strong sell-off, illustration photo

Meanwhile, foreign investors also net sold VND157.9 billion on HoSE in the morning trade.

The VN30-Index, tracking the 30 biggest stocks on the southern market, posted a fall of 29.1 points, or 2.23 per cent, to 1,277.71 points.

Of the VN30 basket, 29 stocks declined, while one stayed flat.

On the Ha Noi Stock Exchange (HNX), the HNX-Index dropped 9.11 points, or 3.04 per cent, to 290.39 points.

Strong sell-off pressure was the main driving force for the market, triggering big losses across all sectors.

Real estate, banking and manufacturing stocks remained the market's leaders. Specifically, Vingroup (VIC) lost the most, down 2.92 per cent. It was followed by Vietcombank (VCB), Vinhomes (VHM), Becamex (BCM) and Hoa Phat Group (HPG), all down in a range of 1.82-4.75 per cent.

Other big names witnessing poor performance were BIDV (BID), Vietinbank (CTG), VPBank (VPB), Vietnam Rubber Group (GVR), Techcombank (TCB), Sabeco (SAB), Vinamilk (VNM), Novaland (NVL), FPT Corporation (FPT) and Mobile World Investment Corporation (MWG).

SHS shares banned from margin trading starting August 23

Saigon - Hanoi Securities JSC (SHS)'s shares are not allowed to perform margin trading due to negative profit after tax in the first six months of 2022 after being reviewed by AASC Auditing Firm, according to the Ha Noi Stock Exchange (HNX).

Shares rebound on banking, mining and securities stocks

Stocks recovered on Tuesday, bolstered by the growth of the banking, mining and securities stocks groups.

Shares decline after three days of gains

Vietnamese stocks snapped a three-day winning streak on Friday, facing strong selling from investors, as they seek profits from firms that made significant gains during the last sessions.

By VNS

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