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Thursday, June 13, 2024

VN-Index drops sharply to below 1,300 points

The Saigon Times

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HCMC – With many large-cap stocks performing poorly today, August 23, the benchmark VN-Index of the Hochiminh Stock Exchange dropped 30.57 points, or 2.3%, to end at 1,298.86 points.

Losing stocks far outnumbered winners by 282 to 101. The southern market saw over 795 million shares worth VND25.8 trillion change hands, falling 33.9% in volume and 32.6% in value against the session earlier. Some 27 million shares worth over VND1 trillion were traded in block deals.

The VN30-Index lost over 38 points. Rubber group GVR and consumer goods producer MSN were the worst performers in the VN30 basket, falling 5.9% to VND34,200 and 5.1% to VND127,000, respectively.

Meanwhile, FPT, VNM, GAS, BVH, SAB, FPT and PLX lost approximately 2%.

Most bank stocks lost ground, with VCB, BID, TCB and VPB falling approximately 3%, while STB lost over 4% and VIB lost nearly 7%.

However, bank stocks were the most actively traded stocks on the southern bourse. STB, TCB and MBB had 30 million, 26 million and 22 million shares changing hands, respectively.

The major under-performing stocks also included real estate stocks. VIC, VHM, VRE, PDR, KDH, VCG, KBC, DIG and NLG dipped in the red, while IJC and HDG dropped to the floor prices. NVL was the only real estate stock that gained ground.

Similarly, most steel stocks performed badly. HPG was one of the worst performers, falling 3.1% to VND47,500. However, HPG took the lead in terms of liquidity on the southern bourse, with more than 32.8 million shares changing hands.

In contrast, a number of securities stocks such as AGR, APG, CTS and TBS shot up to the ceiling prices. VDS and FTS surged over 5%, while HCM, SSI and VCI also grew strongly.

Among fertilizer stocks, DCM, DCM and TSC were the biggest gainers, adding 3-4%.

On the Hanoi Stock Exchange, the HNX-Index fell 0.95%, or 3.22 points, to close at 334.846 points, with decliners outnumbering gainers by 83 to 50. There were some 166.8 million shares worth VND3.94 trillion changing hands.

The worst performing stocks were petroleum trader PVS, industrial development firm IDC and agricultural firm PAN, falling 6-6.9%.

In contrast, many securities stocks such as SHS, EVS, HBS, IVS, PSI, VIG and WSS shot up to the ceiling prices.

PVS led the northern bourse in terms of liquidity with 17.47 million shares changing hands, followed by HNX with 16 million shares and VND with 13.62 million shares.

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