VN-Index hits 20-month low

Vietnam’s benchmark VN-Index closed Monday at 1,086, losing 45.67 points and setting a new bottom level since February last year.

Monday’s selling pressure increased on a large scale along with a sharp decrease in liquidity, causing the Ho Chi Minh City Stock Exchange's (HoSE) index to plunge.

Turbulent sessions during the day shook the HoSE strongly, starting with pillar stocks and followed by mid-cap and penny stocks.

The index dropped more than 51 points at one point, then got back to 1,080 before recovering slightly by the end of the day to 1,086 points. This is the index's lowest level in 20 months, since February 4, 2021.

In all, up to 449 stickers on HoSE were losers, only 43 were gainers.

Similarly, the Hanoi Stock Exchange’s HNX-Index lost 12.08 points (4.83%) to close at 238.17. As for the Unlisted Public Company Market, the UpCOM-Index dropped 2.36 points (2.78%) to 82.6.

The whole market’s liquidity was very low on Monday, only VND13,211 billion ($553 million), with VND11,525 billion matched via HoSE.

Foreign investors were net sellers, with their net sales a little higher than VND530 billion ($22.2 million) via HoSE. Their selling was focused on HPG of Hoa Phat Group and STB of Sacombank.