VN-Index records 3-month low, 53 stocks hit floor prices

By Huu Binh
Tue, October 3, 2023 | 5:52 pm GMT+7

Vietnam’s benchmark VN-Index plunged 37.15 points, or 3.22%, to 1,118.1 on Tuesday on massive sell-offs, marking its lowest level since June 20.

The index, which represents the Ho Chi Minh Stock Exchange (HoSE), saw up to 481 losers, including 53 hitting their floor prices, and only 37 gainers.

The trading value on the major bourse rose 83% from the previous session to VND21 trillion ($860.83 million).

The VN30 index, comprising 30 largest capped stocks, lost 36.24 points, or 3.11%, to 1,130.89.

The VN-Index plunged 37.15 points, or 3.22%, to 1,118.1 on October 3, 2023. Photo courtesy of VietnamFinance.

The VN-Index plunged 37.15 points, or 3.22%, to 1,118.1 on October 3, 2023. Photo courtesy of VietnamFinance.

All the top 10 stocks with the most negative impact on the market were blue chips such as BID of BIDV bank, VIC of conglomerate Vingroup, HPG of steel giant Hoa Phat, and VHM real estate developer Vinhomes.

The red overwhelmed most of the stock groups. In the securities group, except for FTS of FPT Securities, all codes with high trading value decreased by 5.9% or more, including SSI of Saigon Securities, SHS of Saigon-Hanoi Securities, HCM of Ho Chi Minh City Securities, and MBS of MBBank Securities. Notably, VND of VNDirect Securities, VIX of VIX Securities, and VCI of Viet Capital Securities hit their floor prices.

SSI is the most traded code on the market with more than VND1.3 trillion ($53.3 million), followed by HPG with VND1.2 trillion ($49.2 million).

The real estate group also saw a series of tickers suffering the maximum decrease such as DIG of DIG Corp., NVL of Novaland, DXG of Dat Xanh Group, PDR of Phat Dat Real Estate Development Corp, CEO of CEO Group, CII of Ho Chi Minh City Infrastructure Investment JSC, TCH of Hoang Huy Investment Financial Services JSC, and HDC of Ba Ria-Vung Tau House Development JSC.

Steel stocks showed negative performance with HPG down 5.3%, while HSG of Hoa Sen Group and NKG of Nam Kim Steel Corp hit their floor prices.

Foreign investors were net sellers to the tune of over VND150 billion ($6.15 million).

The HNX-Index on the Hanoi Stock Exchange, where mid and small caps list, plunged 4.24% to 226.68 points, while the UPCoM-Index on the Unlisted Public Companies Market fell 2.27% to 86.68.

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