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Monday, June 24, 2024

VN-Index loses nearly 39 points due to strong selling pressure

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HCMC – The strong selling pressure hit many stocks today, June 8, sending the VN-Index of the Hochiminh Stock Exchange down a massive 38.9 points.

Losers outnumbered winners by 320 to 94 on the southern bourse and the main index fell 2.86% at 1,319.88 points. This was the largest decline since late April.

On the bourse, more than 924.51 million shares worth VND30.3 trillion were traded, up nearly 6% in volume and 5% in value compared with the session earlier. There were over 49.93 million shares worth VND2.6 trillion transacted in block deals.

In the VN30 basket, only dairy giant VNM, sugar maker SBT, air carrier VJC and refrigeration electrical engineering firm REE increased. Of which, VJC surged 4.8% at VND117,200.

Bank, steel, securities and gas stocks reported a sharp decline of 5%-6%. For example, steel maker HPG tumbled 5.1% at VND50,000; brokerage SSI lost 6.7% at VND44,000; lender HDB plummeted 6.8% at VND32,300; and bank stock MBB plunged 6.2% at VND37,300.

On the Hanoi Stock Exchange, the selling pressure was even stronger. As a result, the HNX-Index fell 12.25 points, or 3.84%, at 306.39 points, making the session today one of the those with the sharpest decline since early this year.

Trade volume and value improved 6% and 4%, respectively, against the session earlier, at nearly 238 million shares worth some VND5.7 trillion.

In the HNX30 basket, only three stocks gained, including construction firms VMC and DTD and food manufacturer SLS.

Among the declining stocks in the basket, securities company MBS plunged 9.6% at VND25,500; and apparel manufacturer TNG and asset management corporation TVC lost more than 7.1% each.

Lender SHB led the bourse in term of liquidity with 53.63 million shares changing hands.

Meanwhile, mining firm NBC rocketed 9.3% to its ceiling price of VND9,400 and saw 1.39 million shares matched.

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