VN-Index drops almost 13 points amid selling pressure

The VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), fell 12.84 points, or 1.24%, on Friday to close at 1,024.77.

The major bourse saw more than 447.7 million shares changing hands for around VND7.21 trillion ($303.9 million), up from over VND6 trillion recorded in the previous session. There were 317 losers and only 82 gainers.

The VN30 index, which tracks the performance of 30 largest-cap stocks, plunged 15.38 points, or 1.5%, to 1,013.35. VCB of Vietcombank, MSN of Masan Group, and BID of BIDV bank had the most negative impact on the market. In the VN30 basket, only PLX of Petrolimex gained 0.4%.

Red covered all sectors, especially technology, consumer goods and financial stocks, with FPT of FPT Group, VNZ of VNG Corp, and CMG of CMG Corp. losing 1.3-2.8%; VND of VNDirect Securities down 2.16% and SSI of Saigon Securities 1.07%.

Among real estate tickers, DIG of DIG Corp continued to hit its floor price following information on the Government Inspectorate’s decision to inspect the observance of legal regulations in equitization and divestment of state capital at the company.

Meanwhile, IBC of APAX Holdings hit its ceiling price for the second session although the company leaders announced many branches of Apax Leaders English Center had to close amid denouncements by student parents and the corporation is calling on investors to pour more money to maintain operations.

Foreign investors continued to be net sellers for the 13th consecutive session to the tune of over VND126 billion ($5.3 million) on the HoSE. They mainly net sold HPG of steel giant Hoa Phat, VCB, VRE of Vincom Retail, and SSI.

The HNX-Index on the Hanoi bourse went down 1.25 points to 204.89, while the UpCOM-Index on the unlisted public company market fell 0.48 points to close at 75.8.