VN-Index loses 3 points on blue chip selling pressure

Vietnam’s benchmark VN-Index lost 2.88 points, or 0.27%, to 1,075.17 on Wednesday due to strong selling pressure on blue chips.

The Ho Chi Minh Stock Exchange (HoSE), represented by the index, saw 924 million shares changing hands for VND15.8 trillion ($672.5 million), a slight decrease of VND600 billion from the previous session. There were 225 gainers and 167 losers.

Blue chips were the main force dragging down the VN-Index as up to 19 out of 30 stocks in the VN30 index closed in red, pushing this index down nearly 5.5 points.

Except for industry, utility services and information technology, other groups all decreased. The worst performers were real estate and materials stocks.

Many large-caps in the property group plunged. Notably, VHM of Vinhomes lost 2.8%, causing the most negative impact on the market. Other tickers like VRE of Vincome Retail, NLG of Nam Long Group, VIC of Vingroup, CEO of CEO Group, and DXG of Dat Xanh Group were also in red.

However, this group saw 15 stocks hitting the ceiling prices, mainly small caps.

Steel codes showed bad performance, with HSG of Hoa Sen falling 2.8% following news of margin cut. HPG of giant Hoa Phat went down 0.7%.

Foreign investors were net sellers on the HoSE to the tune of VND385 billion ($16.4 million). They mainly net sold NVL of Novaland, HPG, VNM of Vinamilk, and STB of Sacombank.

The HNX-Index on the Hanoi bourse rose 1.48 points to 222.81, while the UpCOM-Index on the unlisted public company market expanded 0.38 points to 82.05.