Securities stocks rally despite VN-Index’s 10-point decline

Securities stocks made a surprise on Monday, with many gaining although Vietnam’s benchmark VN-Index lost 9.82 points, or 0.88%, to 1,105.4.

SSI of Saigon Securities increased 1.15%, HCM of Ho Chi Minh City Securities 0.93%, VCI of Viet Capital Securities 4.42%, BSI of BIDV Securities 2.03%, CTS of VietinBank Securities 2.9%, VDS of Viet Dragon Securities 2.27%, and TVS of Thien Viet Securities 1.96%.

The “swimming against the current” of this group was attributed to information about possible further shortening of T+ settlement cycle.

The Ho Chi Minh Stock Exchange (HoSE), represented by the VN-Index, saw up to 315 losers and only 113 gainers. Its trading value plunged nearly 57% from the previous session last Friday to VND14.3 trillion ($607.8 million), with more than 811 million shares changing hands.

The VN30 index, which tracks the performance of 30 largest-cap stocks, dropped 10.12 points to 1,098.94, with 18 tickers losing and 10 rising.

The banking group showed negative performance, with only four codes gaining and up to 17 declining. Notably, VCB of Vietcombank fell 3.14%, TCB of Techcombank 1.38%, HDB of HDBank 1.34%, and EIB of Eximbank 1.44%.

The real estate group was also in the same situation, with many tickers sharply decreasing. Specifically, VHM of Vinhomes went down 1.79%, VIC of Vingroup 2.62%, PDR of Phat Dat 4.15%, NVL of Novaland 6.04%, ITA of Tan Tao Investment and Industry Corporation 4.91%, CTD of Coteccons Construction JSC 2.28%, SCR of Sai Gon Thuong Tin Real Estate 3.13%, CRE of Century Land 3.3 %, DXS of Dat Xanh Real Estate Services JSC 2.35%, and QCG of Quoc Cuong Gia Lai Corp. 2.45%.

Manufacturing, energy and retail groups saw a divergence, while aviation stocks closed in green with VJC of Vietjet Air and HVN of national flag carrier Vietnam Airlines gaining 0.1% and 0.38%, respectively.

Foreign investors turned net sellers on the HoSE after five consecutive net-buying sessions to the tune of over VND107 billion ($4.55 million). They mainly net sold NVL of real estate developer Novaland, VNM of Vinamilk, and VCB.

The HNX-Index on the Hanoi bourse lost 1.92 points to 226.52, while the UpCOM-Index on the unlisted public company market inched down 0.07 points to 84.55.