Market slides due to stronger selling force

May 20, 2022 | 09:58
Indices fell on Thursday morning, as selling pressure was overweighed by demands for risky assets.
Market slides due to stronger selling force
Market slides due to stronger selling force, source

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) extended losses, down 3.17 points, or 0.26 per cent, to 1,237.59 points.

The market's breadth was negative as more than 330 stocks declined, while 108 stocks rose. Liquidity was also lower than the previous session, of which more than 297.1 million shares were traded on HoSE, worth nearly VND7.4 trillion (US$319.3 million).

The index's losses were due to a stronger selling force weighing on sentiment. The VN30 basket, tracking the 30 biggest stocks on the southern bourse, dropped by 6.24 points, or 0.49 per cent, to 1,280.17 points.

Realty stocks lead the downtrend this morning, with Vingroup (VIC) posting the biggest loss of nearly 1.8 per cent. It was followed by Novaland (NVL), down 1.92 per cent. Another stock of the Vin family reporting great losses was Vincom Retail (VRE), down 2.37 per cent.

Losses was capped by gains in pillar stocks, including Vietcombank (VCB), Masan Group (MSN) and Becamex (BCM). The stocks rose in a range of 1.46-3.97 per cent.

On the Ha Noi Stock Exchange (HNX), the HNX-Index also slid by 2.97 points, or 0.96 per cent, to 306.87 points.


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