VN-Index ends 10-session gaining streak over profit-taking pressure

The profit-taking pressure on blue chips made the VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), declined 0.83 points, or 0.08%, to 1,078.45 on Tuesday, ending its streak of 10 consecutive gaining sessions.

The major bourse saw nearly 804 million shares changing hands for over VND13.6 trillion ($579.52 million), a drop of 4% from the previous session. There were 261 tickers gaining and 139 losing.

Blue chips were the main reason for the VN-Index decline as VN30 index, which tracks the performance of the 30 largest-cap stocks, went down 0.38 points to 1,088.34, with 16 losers and 13 gainers.

Real estate stocks suffered the sharpest drop, with VHM of Vinhomes and VIC of Vingroup losing 1.6% and 1.2%, respectively.

Other codes like CEO of CEO Group, KDH of Khang Dien Holdings, NVL of Novaland Group, and PDR of Phat Dat Real Estate Development Corp. also closed in red.

HQC of Hoang Quan Corp. was the only ticker in the group that hit its ceiling price of VND4,170 ($0.18), after the government approved a project to build 1 million social housing units for lower-income earners and workers in industrial parks. The stock of the social housing "tycoon" enjoyed a three-session gaining streak, reaching the highest price since the end of September 2022.

Meanwhile, the securities group made a positive performance, with many stocks hitting their ceiling prices like APS of Asia-Pacific Securities, BMS of Bao Minh Securities, BSI of BIDV Securities, ORS of Tien Phong Securities, and PSI of PetroVietnam Securities.

Foreign investors continued to be net sellers on the HoSE to the tune of nearly VND270 billion ($11.5 million). They mainly net sold VND of VNDirect Securities, SSI of Saigon Securities, and DXG of Dat Xanh Group.

The HNX-Index on the Hanoi bourse went up 0.25 points to 210.73, while the UpCOM-Index on the unlisted public company market increased 0.31 points to 77.59.