VN-Index drops after three consecutive gaining sessions

Vietnam’s benchmark VN-Index fell 8.4 points, or 0.74%, to 1,126.22 on Thursday, ending its streak of three consecutive gaining sessions.

The Ho Chi Minh Stock Exchange (HoSE), represented by the index, saw more than 921 million shares traded for VND18.6 trillion ($784.15 million), an increase of VND1.4 trillion ($59 million) from the previous session. There were up to 339 tickers losing and only 94 gaining.

Blue chips were the main force dragging down the VN-Index as their VN30 index plunged 10.32 points to 1,119.44, with up to 20 losers and only eight gainers.

Most of the groups closed in the red, with estate, energy and financial tickers suffering the sharpest falls. Among the top 10 stocks with the most negative impact on the market were VHM of property deverloper Vinhomes, VCB of Vietcombank, BID of BIDV bank, and CTG of VietinBank.

VND of broker VNDirect Securities led the market in trading value, hitting VND1.95 trillion ($82.2 million) or 10% of the total figure on the HoSE. Its trading volume hit nearly 106 million shares, the highest level since its listing. Most recently, it recorded 72 million shares traded on May 19.

Not only VND, most securities and financial stocks dropped. Of which, APS of Asia-Pacific Securities continued to hit its floor price following the arrests of its leaders on charges of stock market manipulation.

Foreign investors turned net sellers on the HoSE to the tune of VND315 billion ($ 13.27 million) after net purchasing VND184 billion ($7.74 million) in the previous session. They mainly net sold STB of Sacombank, VCB, and VHM of Vinamilk.

The HNX-Index on the Hanoi bourse dropped 2.76 points to 225.08, while the UpCOM-Index on the unlisted public company market lost 0.32 points to 85.09.