VN-Index plunges 35 points on massive ATC sell-offs

The VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), fell 35.21 points, or 3.17%, to 1,075.97 on massive at-the-close (ATC) sell-offs on Wednesday.

Red dominated the major bourse with 351 losers and 89 gainers. Particularly, 23 out of the 30 blue-chips closed below their reference levels. The HoSE’s liquidity increased with over 1 billion shares changing hands for more than VND17,600 billion ($750.53 million).

In the VN30 basket, GVR of the Vietnam Rubber Group hit its floor price; SSI of Saigon Securities lost 6.7%; while VPB of VPBank, MSN of Masan Group, VHM of Vinhomes, and VRE of Vincom Retail went down nearly 6% each.

NVL of Novaland, HDB of HDBank, MWG of Mobile World Invesment Corp, and PDR of Phat Dat Real Estate Development Corp. closed in green.

The mid-caps showed more negative performance, with many tickers hitting their floor prices with no buyers. The steel, construction, securities, and industrial real estate stocks all plunged.

Foreign investors turned net buyers to the tune of nearly VND91.42 billion ($3.9 million) on the HoSE, after net selling VND120.23 billion in the previous session.

They mainly net bought HPG of steel giant Hoa Phat, HCM of Ho Chi Minh City Securities, HDB, STB of Sacombank, and BID of BIDV bank; while net selling VHM.

The HNX-Index on the Hanoi bourse dropped 6.42 points to 216.01, while the UpCOM-Index on the unlisted public company market expanded 0.91 points to 74.93.