VN-Index drops for five consecutive sessions

Vietnam’s benchmark VN-Index on Monday lost 18 points, or 1.76%, to 1,021.25, marking the fifth consecutive losing session.

In the last one month, the VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), lost a total of 6.18%, entering the top 10 worst performers in the world.

The major bourse saw nearly 589 million shares traded for VND9,329 billion ($391.65 million) in the week-beginning session, up 42.49% from the previous session on February 24. There were up to 371 tickers declining and only 66 rising.

Red overwhelmed the blue chips as the VN30 index, which tracks the performance of 30 largest-cap stocks, plunged 18.96 points or 1.84% to 1,011.46, with up to 27 losers and only two gainers, namely VJC of Vietjet Air and VNM of Vinamilk.

Among the losers, MSN of Masan Group hit its floor price, NVL of Novaland Group went down 5.7%, SSI of Saigon Securities 3.9%, MWG of Mobile World Investment Corp. 3.8% and HDB of HDBank 3.4%.

Not only the blue chips, mid- and small-cap stocks were also sold off as their indexes dropped 36.98 points and 23.65 points respectively.

Almost all groups closed in red, including securities, banking, seafood, retail, construction and real estate.

Foreign investors were net sellers for the ninth consecutive session to the tune of over VND658.15 billion ($27.63 million) on the HoSE, tripling the February 24 session’s figure.

They mainly net sold FUEVFVND certificate, VHM of Vinhomes, SSI, STB of Sacombank, DXG of Dat Xanh Group, and MSN.

The HNX-Index on the Hanoi bourse dropped 4.05 points to 203.27, while the UpCOM-Index on the unlisted public company market lost 0.88 points to close at 75.85.