VN-Index ends 3-session gaining streak

Vietnam’s benchmark VN-Index lost 8.24 points, or 0.66%, to close at 1233.99 on Wednesday, ending its streak of three consecutive gaining sessions.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), represented by the index, also dropped nearly 7% from the previous session to VND21.7 trillion ($913.7 million).

The major bourse saw 215 gainers and 276 losers, with close to 1.1 billion shares changing hands.

Blue chips were the main force dragging down the VN-Index, as their VN-30 index fell 7.79 points to 1,239.84, with up to 27 tickers declining. Of which, VHM of property giant Vinhomes dropped 3.5%, GVR of Vietnam Rubber Group 2%, MWG of electronics retail chain Mobile World 1.87%, and VNM of dairy giant Vinamilk 1.88%.

HPG of steel giant Hoa Phat and STB of Sacombank were the only two gainers in the basket, comprising the 30 largest caps in the Vietnamese stock market.

Meanwhile, small-cap stocks swam upstream as their VNSML-Index gained 0.4%.

The steel group showed the best performance, with HPG up 2.21%, HSG of Hoa Sen Group 2.14%, NKG of Nam Kim Steel Corporation 1.56%.

Most banking stocks closed in the red, except STB, which gained 4.7% to VND31,200 ($1.31) following information about its plan to sell a 32.5% stake at the Vietnam Asset Management Company (VAMC) in the fourth quarter of this year at a minimum price of VND32,000-34,000 ($1.35-1.43) per share.

Securities tickers were also bad performers, with SSI of Saigon Securities losing 1.72%, VCI of Viet Capital Securities 1.36%, HCM of Ho Chi Minh City Securities 2.08%, FTS of FPT Securities1.67%, BSI of BIDV Securities 1.94%, and CTS of VietinBank Securities 1.9%.

Real estate, manufacturing, energy and aviation codes saw a divergence, while those of retail firms plunged.

Foreign investors turned net buyers on the HoSE to the tune of VND328 billion ($13.8 million). They mainly net purchased HPG of steel maker Hoa Phat and MSN of Masan Group.

The HNX-Index at the Hanoi Stock Exchange went down 0.19 points to 245.88, while the UPCoM-Index at the Unlisted Public Companies Market rose 0.16 points to 93.80 points.