Vietnam’s benchmark VN-Index inched up 0.1% to 1,291.35 points on Tuesday despite the red overwhelming the trading session.
Vietnam's stock market quickly plunged into the red at the opening of the Tuesday session. Strong sell pressure in many groups of stocks, particularly real estate, briefly dragged VN-Index to the 1,260-point milestone.
However, gradually rising demand narrowed the downward momentum towards the end of the afternoon session, expanding Tuesday’s trading margin to 30.4 points.
Seventeen stocks in the VN30 basket, comprised of 30 largest stocks by market cap and liquidity on the Ho Chi Minh Stock Exchange (HoSE), were in red. TPB (TPBank) remained the biggest loser with a margin of 3.6%, followed by SSI, BID, and PDR. In the opposite direction, POW (PV Power) became the champion, reaching the ceiling price.
VN30-Index closed the session at 1,324.27, down 2.67 points. Liquidity reached VND6,425 billion ($277 million), accounting for 36% of HoSE liquidity. Small stocks remained positive with VNSmallCap up 0.1%.
VN-Index closed Monday at 1,291.35, up 1.34 points, with 149 stocks gaining and 309 losing. Meanwhile, HNX-Index fell 2.66 points (0.87%) to 304.15, while UpCoM-Index dropped dropped 0.21 points (0.22%) to 93.69.
On the three exchanges, 640 stocks were losers and 306 gainers, with total liquidity reaching VND22,892 billion ($987 million), up 10.6% from Monday’s session.
Real estate remained under strong selling pressure. Particularly, DXG (Dat Xanh Group) was dragged down to the floor, followed by other stocks like L14, HQC, LDG, and SCR, which fell by 5%. The downturn also spread sharply to other sectors such as banking, securities, construction, and steel.
In the opposite direction, SBS (Sacombank Securities) surged 15% to the ceiling price on UpCOM, following its announcement of a new parent firm.
Seafood remained a bullish trend against the market’s fluctuation, with CMX (Camimex Group) reaching the ceiling price, followed by SJ1, MPC, ANV, and VHC climbing by more than 4%.
Agriculture recorded positive results with PAN and TAR hitting the ceiling price, followed by LTG and BAF which rose by 6.2% and 4.7% respectively. Electricity and sugar also performed well with PPC, SBT, LSS, and KTS jumping by more than 5%.
Foreign investors remained net buyers to the tone of VND200 billion ($8.6 million) on the HoSE, focusing on BSR (Binh Son Refining), PNJ (Phu Nhuan Jewelry), and Dragon Capital’s FUEVFVND fund.