Inside a warehouse of Hoa Phat Group. The steel producer's shares plunged more than 2.5%, leading the market's bearish trend. (Photo: hoaphat.com.vn) On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index dropped 11.63 points, or0.93%, to 1,234.03 points.
The market’s breadth was still negative as 269 stocks declined,while 74 stocks increased. Liquidity, however, rose sharply over the previoussession. Matching value on the southern market was up 48.8% to 14.5trillion VND (614.4 billion USD).
The 30 biggest stocks tracker VN30-Index posted a fall of 10.04 points, or 0.8%,to 1,252.78 points.
Of the VN30 basket, only seven stocks advanced, while 22 dipped and one stayedflat.
The HNX-Index on the Hanoi Stock Exchange (HNX) also ended the week lower, down6.81 points, or 2.43%, to 272.88 points.
During the trading day, over 1.6 trillion VND worth of stocks were traded onthe northern bourse, equivalent to a trading value of nearly 81.7 million VND.
The market was in the red due to a stronger sell-off.
According to statistics from a financial website, Hoa PhatGroup (HPG) led the downtrend with a decrease of 2.6%.
Many attractive large-cap stocks from banking and manufacturing, real estate,IT and retail were also under selling pressure. Vietnam Rubber Group (GVR),Vietinbank (CTG), Vietcombank (VCB), Mobile World Investment Corporation (MWG),Vinhomes (VHM), Vingroup (VIC), Masan Group (MSN) and FPT Corporation (FPT) allfell at 0.9% on the last trading day.
An analyst from the Saigon-Hanoi Securities JSC (SHS) said that the marketbenchmark VN-Index continues to accumulate above the nearest support zone ofaround 1,240 points. The positive point is that the demand is still increasingin the industry groups, including industrial zones, construction, electricityand water.
Meanwhile, foreign investors were net sellers on both main exchanges. Accordingly,they sold a total of 508.72 billion VND on both bourses, including 422.61billion VND on HoSE and 86.11 billion on HNX./.
VNA
