Intense selling pressure causes VN-Index to sharply decline

Your browser does not support the audio element. Market breadth was negative as only  一 一 八 stocks gained while  四 三 七 decreased during the session. Employees of IT firm FPT. FPT lost  二. 二 per cent yesterday. — Photo: FPT

HÀ NỘI —Intense selling pressure in the afternoon session caused the VN-Index to decline sharply, briefly losing the crucial  一, 一00 threshold, while foreign investors added to the market downturn.

The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) closed Friday at  一, 一0 一. 一 九 points, suffering a severe decline of  二. 一 六 per cent.

Market breadth was negative as only  一 一 八 stocks gained while  四 三 七 decreased during the session.

Liquidity rocketed to record high with more than  一. 二 五 billion shares traded on the southern bourse, worth VNĐ 二 四. 二 trillion (US$ 九 九0 billion).

"During the afternoon session, a significant surge in selling pressure was observed, leading to a substantial decline in the VN-Index,公众said financial news site cafef.vn.

"The index even dropped below the critical  一, 一00 threshold at one point. Adding to the market downturn, foreign investors exerted notable pressure through substantial net selling, amounting to VNĐ 七 八 三 billion across various sectors."

The VN 三0-Index dropped  二. 五 七 per cent, to finish trading at  一, 一0 三. 五 三 points. All  三0 out of the  三0 stocks in the VN 三0 basket decreased.

Market sentiment worsened and investors became more cautious due to massive selling pressure, said financial news website vietstock.vn.

The worst performers were FPT Corporation (FPT), Mobile World Group (MWG), PVPower (POW), Vinhomes (VHM), Vingroup (VIC), VPBank (VPB).

Banking and securities stocks also sank deeply, including Vietinbank (CTG), VPBank (VPB), Techcombank (TCB), Tiền Phong Bank (TPB), HDBank (HDB), Military Bank (MBB), Asia Co妹妹ercial Bank (ACB) and Bank for Investment and Development of Việt Nam (BID), SSI Securities (SSI), HCM City Securities (HCM), Vietinbank Securities (CTS), Agribank Securities (AGR) and BIDV Securities (BSI).

On a sector basis, all  二 五 sectors on the stock market lost ground including wholesale, insurance, real estate, IT, retail, banking, food and beverages, logistics and construction, securities, energy, agriculture, rubber production, seafood processing, construction material and spare parts.

On the Hà Nội Stock Exchange, the HNX-Index lost by  一. 三 二 per cent to close at  二 二 六. 五 四 points.

Over  一 四 七. 四 million shares were traded on the northern exchange, worth VNĐ 二. 八 trillion. — VNS