Vingroup stocks down, VN-Index declines

Vietnam’s benchmark VN-Index dropped 10 points Monday after three consecutive gaining sessions last week.

The index, which represents the Ho Chi Minh Stock Exchange, closed at 1,051.58 points at the end of the day after VIC and VHM of Vietnamese conglomerate Vingroup and its property unit Vinhomes lost 6.2% and 4.6%, respectively. The two stickers alone dragged the index down more than six points.

VRE of Vincom Retail, also part of the Vingroup ecosystem, decreased by 1.2% Monday. In addition, large caps in the banking, real estate, and consumer goods sectors like VCB, TCB, BID, MBB, NVL, and SAB of Vietcombank, Techcombank, BIDV Bank, MBBank, Novaland, and Sabeco Brewery were also on a decline.

On the contrary, GAS of PV Gas increased by 1.5% in its sixth gaining session in a row.

Foreign investors continued to be net buyers Monday, spending a total VND870 billion (more than $35.77 million) on purchases, focusing on VNM of dairy products maker Vinamilk and DGC of Duc Giang Chemicals.

The group’s sales value kept under VND640 billion ($26.3 million). This was the seventh consecutive session where foreign investors were net buyers.