HCMC – Vietnam’s stock market turned volatile on April 22, with the VN-Index briefly plunging by nearly 70 points, before a surge in dip-buying helped pare back losses significantly.
The market opened in negative territory and extended its decline through most of the day, driving the VN-Index on the Hochiminh Stock Exchange down to 1,137 points amid widespread selling pressure. Many stocks hit their floor prices, likely triggered by forced selling. However, strong bottom-fishing late in the session eased the pressure and lifted the index.
The VN-Index eventually edged down by 9.94 points, or 0.82%, at 1,197.13 points. On the Hochiminh Stock Exchange, 132 stocks gained while 400 declined, including 22 that closed at their lower daily limit. Trading volume soared to over 1.7 billion shares worth VND34.1 trillion, nearly double the previous session in volume and up 83% in value. Block deals accounted for 86.5 million shares valued at VND2.3 trillion.
In the VN30 basket, which groups the 30-largest cap stocks, bluechips were hit hard early on, with many falling sharply. However, they later recovered, with MSN, LPB, and STB ending slightly higher. BCM and GVR still closed down nearly 6%.
SHB saw a record matching volume of over 218.2 million shares, rebounding from the floor to the reference price of VND13,200 by the close. It took the lead by liquidity on the southern bourse.
The Hanoi Stock Exchange mirrored the HCMC bourse’s pattern. The HNX-Index dropped sharply in early afternoon trade before recovering slightly to close at 207.71 points, down by 3.76 points, or 1.78%.
Market breadth remained negative with 157 losers versus 42 gainers, on a trading volume of 119.6 million shares worth VND1.81 trillion.
