Foreign investors net sell Vietnamese stocks for fifth consecutive session

Foreign investors were net sellers for the fifth consecutive session on the Ho Chi Minh Stock Exchange (HoSE) to the tune of over VND340 billion ($14.5 million) on Wednesday, down VND230 billion from the previous session.

CTG of VietinBank was most net sold with a value of nearly VND100 billion ($4.26 million), followed by KBC of Kinhbac City Development Holding Corp, HPG of steel maker Hoa Phat, and SSI of Saigon Securities.

The VN-Index, which represents the HoSE, inched down 0.01 points to 1,069.45, with 190 gainers and 188 losers.

The main bourse saw over 726 million shares changing hands for about VND12.6 trillion ($537.38 million), a rise of VND1 trillion from Tuesday.

The VN30 index, which tracks the performance of the 30 largest-cap stocks, dropped 1.02 points to 1,080.69.

Real estate stocks were the main support for the VN-Index, with NLG of Nam Long Group and HDC of Ba Ria - Vung Tau House Development JSC hitting their ceiling prices.

NVL of Novaland Group expanded over 6%. In the past month, the stock of the leading real estate developer has increased by about 50% thanks to information about measures to remove obstacles for the real estate market.

Most recently, the government requested a working group in charge of addressing problems facing Novaland's projects in Dong Nai and Binh Thuan province be established

HDG of Ha Do Group, PDR of Phat Dat Corp, and KDH of Khang Dien Holding Corp rose more than 4%.

Meanwhile, securities tickers had negative impacts on the market, with SSI down 2.65%, VND of VNDirect Securities 1.89%, VCI of Viet Capital Securities 1.66%, HCM of Ho Chi Minh City Securities 2.32%, FTS of FPT Securities 3.68%, BSI of BIDV Securities 3.76%, and VIX of VIX Securities 2.41%.

Aviation codes also showed their negative performance as VJC of low-cost airline Vietjet and HVN of national flag carrier Vietnam Airlines lost 2.54% and 0.75% respectively.

The HNX-Index on the Hanoi bourse fell 0.4 points to 211.94, while the UpCOM-Index on the unlisted public company market increased 0.34 points to 79.15.