Vietnam shares sink on extended foreign selloffs

Vietnamese equities fell for a fourth consecutive day on Tuesday as foreign traders extended their selling spree.

The benchmark VN-Index of the Ho Chi Minh Stock Exchange (HoSE) lost 0.98% to close at the intraday low of 1,205.15 points.

Volume was moderate, with 511.89 million shares worth VND13.25 trillion ($521.55 million), compared to 642 million shares valued at VND15.38 trillion on Monday.

As many as 287 tickers ended in the red, 83 in the green and 55 stayed flat. Just seven of the 30 stocks of the VN30 Index went north.

Strong selling pressure was seen mainly in financials, technology, real estate, construction, steel, chemicals, and retail firms.

Notably, housing developer Vinhomes (VHM) rose 3.43% to end at VND42,200 ($1.66) a share, marking a second consecutive day of gaining, with 26.47 million shares traded. As of Tuesday, the company has repurchased 190.08 million shares, fulfilling 51.37% of its buyback plan, due to finish on November 21.

Foreigners net sold VND1.68 trillion ($66 million) on the HoSE, following a net sale value of VND1.47 trillion on Monday.

On the main bourse, the most sold stocks today were Vinhomes (VHM) with VND342 billion ($13.46 million), FPT Corp (FPT) with VND320.5 billion, and HDBank (HDB) with VND207.6 billion.

On the other side, they net bought VND71.74 billion ($2.82 million) worth of VietinBank (CTG), VND9.7 billion of Saigon VRG Investment (SIP), and VND7.3 billion of PV Gas (GAS).

They have been net sellers of VND10.95 trillion ($431 million) on the HoSE this month and VND86.96 trillion since the start of this year, according to exchange data.