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Selling pressure sinks main index

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HCMC – The VN-Index of the Hochiminh Stock Exchange was dragged lower by massive selling pressure, while financial group OGC stole the limelight with record high liquidity today, September 24.

With 133 winners and 271 losers, the benchmark index lost 3.92 points, or 0.43% against the previous session at 908.58. Trading volume and value improved compared to Wednesday at over 398 million shares worth VND6.4 trillion, including VND791 billion worth of shares traded in put-through transactions.

A host of bluechip stocks ended in negative territory but their losses were just around 1%. Property firm VIC, brewery SAB, lender STB all slipped 1.6%; while dairy firm VNM and lender VPB both dropped 1.5%. Besides, housing developer VHM, steelmaker HPG, lender CTG, low-cost carrier VJC fell slightly.

By contrast, bank stock MBB was the biggest winner among bluechips as it added 2.1% to VND19,600. Gas firm GAS and two lenders TCB and EIB also bucked the market downtrend with slight gains.

Regarding liquidity, lender STB, steelmaker HPG, and lender MBB staged outstanding performance with respective matching volumes of 17.7, 12.4, and 12.3 million shares.

Among speculative stocks, OGC surged as much as 6.9% to its ceiling price and reported its record high matching volume of over 40.4 million shares. Accordingly, OGC led the southern bourse by liquidity, followed by steelmaker HSG with more than 22.4 million shares.

Development and construction investment firm TTA, a newly-listed company, fell 6.9% to its floor price with only 84,000 shares changing hands.

As for the Hanoi Stock Exchange, multiple stocks including two lenders ACB, SHB, gas firm PVS, securities company SHS were deep in the red. Closing, the HNX-Index contracted 0.7%, or down 0.93 point to stay at 131.71 points.

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