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Monday, June 24, 2024

Bank stocks drag VN-Index down

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HCMC – The VN-Index of the Hochiminh Stock Exchange eased off its winning streak, losing 0.76% to 770.77 points today, April 27, due to a sharp fall of bank stocks and a lack of supportive information.

At the close, with 186 gainers and 175 losers, the benchmark index dropped by 5.89 points against the session earlier. Trade volume totaled 307.36 million shares worth VND4.7 trillion, up 17.2% in volume and 19.6% in value from the session earlier. Block deals contributed VND932 billion to the total value.

Most of the bank stocks, except for VPB finishing the day up, lost ground, with VCB dipping by 3%. Lenders BID, CTG, STB and MBB ended in the red, falling by between 1.2% and 2.5%.

Multiple bluechips traded in negative territory, including insurer BVH, gas firm GAS, consumer goods producer MSN and fuel distributor PLX.

Large-cap stock VNM stood at its reference price due to heavy sell-off after the dairy firm made a strong gain at the final session last week.

Construction firm ROS led the southern market by liquidity with 14.54 million shares changing hands, closing the day up 4.58%.

On the northern bourse, the HNX-Index lost 0.67 point, or 0.63%, to 106.3. There were 37.76 million shares valued at VND306.53 billion transacted.

Bank stocks were key laggards for the northern market, with ACB, SHB and NVB slumping 1%, 1.8% and 2.4%, respectively.

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