VN-Index falls 10 points on strong late selling pressure

Strong selling pressure at the close on Thursday made Vietnam's benchmark VN-Index lose 9.95 points, or 0.95%, to 1,070.91.

The Ho Chi Minh Stock Exchange (HoSE), represented by the index, saw nearly 999 million shares changing hands for over VND15.8 trillion ($673.7 million), an increase of 22% from Wednesday. There were 194 gainers and 209 losers.

Blue chips had the most negative impact on the market as their VN30 index dropped 10.97 points to 1,078.86, with up to 22 out of 30 stocks in the basket going down.

Notably, VHM of real estate developer Vinhomes lost 1.92%, VCB of Vietcombank was down 0.98%, and VIC of Vingroup down 1.8%.

Red covered all groups, with energy, finance, real estate, and consumer goods suffering the sharpest decreases.

Among banking tickers, LPB of LienVietPostBank fell 3.2%, while OCB of Orient Commercial Joint Stock Bank, VIB of Vietnam International Bank, and STB of Sacombank more than 2%.

The majority of real estate stocks closed below their reference levels despite positive news about measures to support social housing and recognition of the legality of some new property types.

Foreign investors were net sellers on the HoSE to the tune of over VND200 billion ($8.5 million). They mainly net sold KDH of Khang Dien Holding Corp., STB, DXG of Dat Xanh Group, and KBC of Kinhbac City Development Holding Corp.

The HNX-Index on the Hanoi bourse decreased 1.15 points to 211.43, while the UpCOM-Index on the unlisted public company market expanded 0.6 points to 78.34.