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Local stock market hit by sell-offs

The Saigon Times

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HCMC – Sell-offs of many bluechips drove down the VN-Index of the Hochiminh Stock Exchange by 1.52% today, April 19, marking the fourth straight losing session.

The market opened lower on bearish sentiment, with the benchmark index shedding over 23 points in the morning.

It briefly recovered in the afternoon, narrowing the gap to just three points, but then plunged again, losing 18.16 points to close at 1,174.85, with the number of losers 4.5 times higher than that of winners, at 405 to 90.

The trading volume and value on the southern bourse soared by 23% over the session earlier to 1.07 billion shares worth over VND23.7 trillion, including 45.9 million shares valued at VND1.2 trillion traded in block deals.

Many bluechips lost steam. Up to 25 stocks in the VN30 basket, which groups the 30 largest-cap stocks, encountered losses while only two stocks advanced. The VN30-Index lost 16.71 points, or 1.38%, to 1,194.03 points.

Except for telecommunications, all sectors dragged the VN-Index down, particularly securities and real estate. The stocks that weighed most heavily on the VN-Index today were VIC, CTG, FPT, BCM and GVR. They collectively took away 2.15 points from the index.

Developer VIC dipped by 5.33%, the steepest within the basket, to VND42,600, with over 3.6 million shares changing hands.

Securities stock VIX was the most actively traded stock on the southern market, with a trading volume of 47.4 million shares. Real estate stocks DIG and NVL secured the second and third positions, respectively, registering transaction volumes of 38.9 million and 38.5 million shares.

On the Hanoi Stock Exchange, the HNX-Index slid 5.4 points, or 2.39%, to 220.80 points, with 46 winners and 141 losers.

The total matched trading volume reached 129.1 million units, with a value of nearly VND2.6 trillion.

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