HCMC – Foreign investors switched to net buying today, April 9, reversing the prolonged net selling streak and providing some relief to Vietnam’s stock market after several sessions of steep losses. By the end of the day, they had posted net purchases of around VND300 billion.
In early trade, the market tumbled more than 59 points to near 1,073 points, the lowest in over 15 months. However, in the afternoon session, several stocks bounced back, helping reduce losses by the close.
The VN-Index on the Hochiminh Stock Exchange shed 38.49 points, or 3.40%, and ended at 1,094.3 points. There were 133 stocks rising while 351 others ended lower, including 147 hitting their floor prices.
Trading volume jumped 37.6% from the previous session to 1.6 billion shares worth VND32.4 trillion. Block deals accounted for 83.9 million shares valued at nearly VND2.1 trillion.
The VN30 basket, which groups the 30 largest-cap stocks, saw seven winners and 23 losers, including eight bluechips plunging to their lower limits. The VN30-Index lost 28.83 points, or 2.41%, to close at 1,168.68 points.
SAB led the gainers in the VN30 basket, edging up 3.52% to VND44,100. VIC, VHM, and VRE also closed higher. SSB, LPB, and FPT managed to make modest gains.
Bank stocks saw mixed performance. SSB, LPB, NAB, and OCB rose slightly, yet others, including EIB, hit floor prices. The bluechips that ended in positive territory contributed roughly 4.6 points to the VN-Index, but decliners wiped out over 20 points, with VCB alone shaving off 6.6 points.
Securities companies faced a strong sell-off, leaving most of them in the red. In real estate and construction, numerous shares also hit floor prices, mirroring the downturn in steel, where nearly all major players fell to their daily lower limits.
Despite the sell-off, notable liquidity was recorded. VIX led with 92.92 million shares changing hands, followed by HPG, SSI, and several banks such as SHB, VPB, and MBB each surpassing 50 million shares traded.
On the Hanoi Stock Exchange, the HNX-Index followed a similar pattern, dropping 8.47 points, or 4.21%, to 192.58 points, with 63 advancers and 134 decliners. Stock trade on the northern exchange surged 60% in volume and 50% in value over the previous session, with 143.7 million shares worth a total of VND1.9 trillion changing hands.
