VN-Index falls far below 1,000-point mark

Vietnam’s benchmark VN-Index plunged Monday far below the 1,000-point territory after losing 33.67 points, or 3.3%, to 986.15.

The index, which represents the Ho Chi Minh Stock Exchange (HoSE), lost over 44 points at a time amidst strong selling pressure. The major bourse closed the week-beginning session with up to 430 stocks declining, including 148 hitting their floor prices, and only 45 gainers.

This also marked the fourth consecutive session that the VN-Index had closed in red color with a total loss of 77.5 points.

The HNX-Index on the Hanoi bourse nosedived 7.91 points or 3.64% to 209.5 points, while the UPCOM-Index on the unlisted public company market fell 2.12 points or 2.7% to 76.45 points.

The trading value on the three bourses reached VND13,725 billion ($552.2 million), including VND12,072 billion on HoSE.

The VN30-Index, which tracks 30 largest-cap stocks, dropped 36.69 points with 27 losers, including 10 hitting their floor prices. TPB of TPBank was the only ticker closing in the light green. The small- and medium-cap stocks also plummeted when VNMidcap and VNSmallcap dropped 3.72% and 3.82%, respectively.

The red color covered most of the groups of stocks, with a series of banking stocks hitting their floor prices, including BID of BIDV bank, LPB of LienVietPostBank, TCB of Techcombank, and STB of Sacombank. Coming next were the real estate, securities, retail, construction, and food groups.

Foreign investors' activities became a silver liner in this session as they turned net buyers to the tune of nearly VND75 billion ($3 million) on the HoSE, mainly buying FRT of FPT Digital Retail JSC, DCM of PetroVietnam Camau Fertilizer JSC, and MSN of Masan Group.