VN-Index down after three-day gaining streak

Vietnam’s benchmark VN-Index recorded a slight fall in the week-opening session amid selling pressure over blue chips, ending its streak of three consecutive gains.

Closing the Monday session, the VN-Index, which tracks the performance of the Ho Chi Minh Stock Exchange (HoSE), dropped 8.68 points or 0.9% to 960.65. The major bourse saw 259 gainers, including 52 hitting their ceiling prices, and 177 losers.

The trading value on the HoSE reached over VND8.7 trillion ($350.2 million), down from the previous week’s average, with nearly 600 million shares changing hands.

The VN30-Index, which features 30 largest-cap stocks, plunged 14.31 points or 1.47% to 956.89. Up to 20 of 30 blue chips closed below the reference levels.

Especially, NVL of Novaland Group and PDR of Phat Dat Real Estate Development Corporation continued to hit their floor prices, with 55 million and 100 million shares waiting for buyers, respectively.

VRE of Vincom Retail lost 4.7%, MWG of Mobile World Investment Corp fell 3.6%, while GAS, VIC, VHM, FPT of PV Gas, Vingroup, Vinhomes and FPT Corp dropped over 2%, respectively.

Banking tickers also closed in the red color, with ACB of Asian Commercial Bank losing 2.6%, and CTG of Vietinbank, STB of Sacombank, TCB of Techcombank and VCB of Vietcombank down over 2%.

On the contrary, mid-cap real estate stocks maintained strong gaining momentum, with DIG of DIG Corp, CEO of CEO Group, HQC of Hoang Quan Corp, and NLG of Nam Long Group hitting their ceiling prices.

Among steel codes, HSG of Hoa Sen Group and NKG of Nam Kim Steel JSC continued to increase strongly, while HPG of giant Hoa Phat closed in the red.

Foreign investors were net buyers to the tune of nearly VND36.73 billion ($1.48 million), mainly purchasing VPB of VPBank, HPG, VNM of Vinamilk.

HNX-Index on the Hanoi bourse increased by 1.53 points or 0.8% to 192.4, while UpCOM-Index on the unlisted public company market rose 0.49 points or 0.73% to 67.64.