Business

Selling pressure drives market down

Shares plummeted on July 3 as strong selling pressure pushed the benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) and the HNX-Index on the Hanoi Exchange (HNX) to hit rock bottom in 2018.
Selling pressure drives market down ảnh 1Benchmark VN-Index and HNX-Index hit rock bottom on July 3. (Photo: VNA)

Hanoi (VNA) – Shares plummeted on July 3 as strong selling pressurepushed the benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) and theHNX-Index on the Hanoi Exchange (HNX) to hit rock bottom in 2018.

The VN-Index lost 41.14 points to close at 906.01 points. The southern marketsaw 248 decliners and 63 gainers, and traded more than 180 million shares worthover 4.53 trillion VND (199.32 million USD).

Meanwhile, the HNX-Index swindled 3.97points to end at 98.8 points. There were 126 declining codes and 42 advancingones. Over 41,470 shares were sold on the northern bourse at a value of morethan 619.4 billion VND (27.25 million USD).

Regarding the large-cap VN30 group, only Thanh Cong-Bien Hoa JSC’s shares (ticker:SBT) remained in the green with an increase of 250 VND to 14,700 VND per share.Other shares fell dramatically such as Coteccon Construction JSC (ticker: CTD) decreasing6,000 VND to 142,000 VND per share, PetroVietnam (ticker: GAS) declining 5,400VND to 83,000 VND, and Mobile World Group (ticker: MWG) falling 6,900 VND to100,100 VND per share.

Banking stocks were the worst performers as five codes declined in theirvalues, namely Joint Stock Bank for Investment and Development of Vietnam(BID), Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG), SaiGon Thuong Tin Commercial Joint Stock Bank (STB), Vietnam Technological andCommercial Joint Stock Bank (TCB), and Vietnam Prosperity Joint StockCommercial Bank (VPB).

Red margins also dominated property stocks. Among those were Phat Dat RealEstate Development JSC (PRD), Hoa Binh Construction Group JSC (HBC), and Vingroup(VIC) and its affiliate Vinhomes (VHM).

Weak players in the financial service stocks comprised of Agribank Securities(AGR), Viet Capital Securities JSC (VCI), and HoSE (HCM).

Net selling by foreigners on the day was strong as they sold over 12.24 millionshares valued at 358.7 trillion VND (15.74 billion USD) on the HoSE. Meanwhile,the foreign players net bought for the fourth consecutive session with a valueof 8.72 billion VND (383,680 USD). -VNA
VNA
#strong selling pressure #benchmark VN-Index #HNX-Index #Shares plummeted #large-cap VN30 group #Banking stocks #worst performers #Red margins #property stocks #Vietnam News Agency #Vietnamplus
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