HCMC bourse trading value drops 18%

The trading value on the Ho Chi Minh Stock Exchange (HoSE) on Tuesday fell 18.4% from the previous session to VND19.21 trillion ($801.58 million).

The VN-Index, representing the HoSE, dropped 2.79 points, or 0.23%, to close at 1,234.05, with 912 million shares changing hands. The major bourse saw 232 gainers and 221 losers.

The VN-30 index, which tracks the performance of 30 largest cap stocks, lost 2.19 points to 1,241.24, with 17 tickers declining.

VIC of private conglomerate Vingroup had the most negative impact on the VN-Index fall, dropping 3.5% with the largest trading value in the market, at VND1.06 trillion ($44.2 million). It was followed by SSI of SSI Securities, BID of BIDV, and STB of Sacombank, with respective decreases of 1.54%, 1.26% and 1.25%.

In the last three weeks, VIC increased strongly with four sessions hitting its ceiling price, recording the highest level since the end of June 2022.

VIC’s strong gain was attributed to the upcoming listing of shares by its subsidiary, electric vehicle maker VinFast, on the Nasdaq.

Banking and securities stocks closed in the red while real estate, energy, aviation, manufacturing and retail tickers saw a divergence.

Foreign investors were net sellers on the HoSE for the fourth consecutive session to the tune of over VND540 billion ($22.52 million). They mainly net sold VPB of private lender VPBank and VIC.

The HNX-Index at the Hanoi Stock Exchange went up 1.01 points to 251.45, while the UPCoM-Index at the Unlisted Public Companies Market inched up 0.03 points to 93.49.