Market falls no little reason

The VN-Index lost 8.63 points or 2.17 per cent to 388.88 points on Ho Chi Minh Stock Exchange. The benchmark even plunged more than 10 points during the session.

Selling pressure increased in most stocks, while the demand for shares staying weak. Stocks in real-estate, securities, financial, mineral massively hit the floor.

As many as 216 stocks ended off on the bourse, overwhelming 33 up and 59 unchanged.

Among large-cap stocks, financial stocks Bao Viet Holdings (BVH), Vietcombank (VCB), Vietinbank (CTG), Saigon Securities Inc. (SSI), along with Hoang Anh Gia Lai (HAG), Song Da Urban & Industrial Zone Investment and Development (SJS), PetroVietnam Fertiliser and Chemical Corp. (DPM), PetroVietnam Drilling and Well Services (PVD), Hoa Phat Group, hit the floor.

Eximbank (EIB) lost 2.61 per cent, while Military Bank (MBB) dropped 2.92 per cent.

Almost the top-active stocks in real estate, mineral sectors such as Sao Mai Construction Corp. (ASM), Hoang Quan Consulting-Trading-Service Real Estate Corp. (HQC), Tay Bac Minerals Investment (KTB), Binh Thuan Mineral Industry (KSA), hit the floor or nearly hit the floor.

However, liquidity significantly improved. Nearly 50 million shares worth VND833.1 billion ($40.2 million) changed hands on HoSE, among them VND680.5 billion ($32.9 million) worth of shares were matched.

Sacombank (STB) outperformed the bourse with 2.9 million shares matched. Just a few other stocks had more than one million shares matched.

In the end, Masan Group (MSN) suddenly gained 1.94 per cent supporting the market.

Of the same situation, Hanoi Stock Exchange (HNX) plunged nearly 4 per cent today. The benchmark HNX-Index lost 2.32 points or 3.84 per cent to end at 58.07 points.

Asia Commercial Bank (ACB), Drilling Mud Corp. (PVC), PetroVietnam Southern Gas (PGS), PetroVietnam Northern Gas (PVG) were among top losers.

Liquidity stayed weak on the northern bourse, with just 34.1 million shares worth VND270.2 billion ($13.1 million) changed hands. Kim Long Securities (KLS) and VNDirect Securities (VND) outperformed the market with more than 4 million shares matched each.