VN-Index drops 8 points on profit-taking pressure

Investor selloffs for profit taking made the VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), fall 8.22 points, or 0.74%, to 1,101.32 on Thursday.

The trading value on the HoSE reached nearly VND23.7 trillion ($1 billion), an increase of VND5.7 trillion from the previous session and the highest level since April 2022.

Industry, banking, securities and real estate stocks saw the most transactions.

The major bourse witnessed more than 1.3 billion shares changing hands, with 269 gainers and 139 losers.

The VN30 index, which tracks the performance of 30 largest-cap stocks, plunged 13.22 points to 1,092.46, with up to 23 tickers losing.

The banking group had six representatives in the top 10 stocks with most negative impact on the market, including BID of BIDV, TCB of Techcombank, and VPB of VPBank.

Except VCB of Vietcombank, PGB of PGBank, and SGB of SaigonBank, all banking stocks dropped. NVB of National Citizen Commercial Joint Stock Bank lost 4.4%, STB of Sacombank 2.65%, VIB of Vietnam International Bank 3.18%, EIB of Eximbank 3.03%, and LPB LienVietPostBank 2.33%.

Most securities stocks declined. VND of VNDirect lost 5.97%, SSI of Saigon Securities 3.19%, SHS of Saigon-Hanoi Securities 3.15%, HCM of Ho Chi Minh City Securities 3.51%, VCI of Viet Capital Securities 3.55%, and APS of Asia-Pacific Securities 6.33%.

The real estate group saw nine stocks hitting their ceiling price and one hitting the floor price. Many large codes in this group went down, such as DIG of DIG Corp and CEO of CEO Group 5%, DXG of Dat Xanh Group 4.6%, NVL of Novaland 2.41%, and NLG of Nam Long Group 3.3%.

Foreign investors were net sellers on the HoSE to the tune of more than VND300 billion ($12.77 million). They mainly net sold VNM of Vinamilk and GEX of Gelex Corp.

The HNX-Index on the Hanoi bourse fell 3.55 points to 226.78, while the UpCOM-Index on the unlisted public company market decreased 0.54 points to 84.02.