VN-Index plunges 15 points on negative world financial information

The VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), lost 14.79 points, or 1.39%, to 1,047.4 on Thursday on information about the possible collapse of Credit Suisse, the second largest bank in Switzerland.

The main bourse saw up to 358 losers and only 55 gainers, with nearly 533 million shares changing hands for over VND9.4 trillion ($398.7 million), a decrease of VND1.2 trillion from the previous session.

Blue chips were the main force dragging down the VN-Index as the VN30 index plunged 17.39 points to 1,046.99. Up to 27 tickers in the basket closed in red. VHM of real estate developer Vinhomes was the biggest loser (-3.26%).

Red overwhelmed almost all groups, from banking and securities to steel, materials, real estate, oil and gas.

The banking group was most affected by the world financial fluctuations, with STB of Sacombank, VPB of VPBank, VIB of Vietnam International Bank, CTG of VietinBank, and BID of BIDV down 1-3%.

Property stocks saw a divergence. While many experienced sharp falls like VHM, IDC of IDICO Corp., and NLG of Nam Long Group, some closed in green, including DIG of DIG Corp., DXG of Dat Xanh Group, and HDG of Ha Do Group.

Foreign investors were net purchasers for the seventh consecutive session to the tune of nearly VND90 billion ($3.8 million) on the HoSE, a sharp drop from VND200 billion recorded in the previous session. They mainly net bought steel, real estate, finance-banking stocks.

The HNX-Index on the Hanoi bourse went down 2.82 points to 204.19, while the UpCOM-Index on the unlisted public company market fell 0.57 points to 76.02.