One third of HCMC bourse stocks hit floor prices

Up to 199 out of 533 stocks on the Ho Chi Minh City Stock Exchange (HoSE) hit their floor prices on Tuesday.

Closing the session, VN-Index, which tracks the HoSE’s performance, lost more than 29 points or 3.1% to 911.9, with more than 400 losers, including 199 hitting their floor prices, and only 40 gainers.

More than 692.3 million shares changed hands for VND9,797 billion ($395.4 million) on the major bourse.

VN30-Index, which features 30 largest-cap stocks, plunged by 31 points or 3.37% to 904.77.

Sell-off pressures came from almost all the groups, including blue chips. In the VN30 basket, 11 tickers including NVL of real estate developer Novaland, BID of BIDV bank, MBB of Military Bank, TCB of Techcombank, BVH of insurer Bao Viet, MWG of Mobile World Investment Corporation, and FPT of FPT Group hit their floor prices.

Most mid-cap stocks in the real estate, retail, securities and construction sectors were in the same situation.

The main supports for the market were VIC of Vingroup with an expansion of 3.6%, HPG of steel giant Hoa Phat, 2.5%, and TPB of TPBank, 1%.

Foreign investors remained net buyers for the seventh consecutive session to the tune of VND1,176 billion ($47.5 million), mainly purchasing STB of Sacombank, HPG, SSI of Saigon Securities, and KBC of Kinhbac City Development Holding Corporation.

The HNX-Index on the Hanoi bourse was down 7.67 points or 4.18% to 175.78, while the UpCOM-Index on the unlisted public company market decreased 3.51 points or 5.25% to 63.3.