The benchmark indices posted huge losses on March 3 as the blue chips were in the red and selling activities dominated the session.
On the Ho Chi Minh City Exchange, the VN-Index tumbled 2.23 percent – the largest drop since August last year – to finish at 573.38 points.
Most blue chips slid, causing the VN30-Index which tracks the southern city's top shares by capitalisation and liquidity, to post a greater loss of 2.99 percent to end at 643.95 points.
Among the VN30 stocks, only Hoa Phat Group (HPG) and PetroVietnam Transportation Corporation (PVT) managed to increase on March 3, making modest gains of 100 VND, or 0.0074 USD, per share, while Kinh Do (KDC) and Becamex IJC (IJC) kept their reference prices.
Meanwhile, Masan Group (MSN) declined 4.9 percent to end at 97,000 VND, or 4.6 USD, per share and PetroVietnam Drilling Corporation (PVD) lost 4.3 percent to finish at 78,000 VND, or 3.7 USD, per share.
Technology firm FPT Group (FPT), Hoa Sen Group (HSG), Pha Lai Thermoelectric Company (PPC), REE Corporation (REE), real estate giant Vingroup (VIC), Sacombank (STB), property developer Hoang Anh Gia Lai (HAG), PetroVietnam Fertilisers and Chemicals Corporation (DPM) and Southern Rubber Corporation (CSM) also made losses.
Overall, on the southern bourse on March 3, only 45 codes managed to add value while 212 codes slid. As the selling pressure intensified in the afternoon trading and completely dominated it, the benchmark index slid abruptly.
However, a significant capital inflow was injected into the market with the trading value on the southern bourse reaching more than 2.3 trillion VND, or 109.5 million USD, on the exchange of nearly 143.3 million shares.
On both the bourses, the trading value totalled more than 3.2 trillion VND, or 152.3 million USD, which was still at a high level.
During the past two weeks, the losses of benchmark indices often went along with improved liquidity, as seen on February 20 and 27, reflecting the activeness of sellers, a stock analyst said.
The losses were even larger on the Hanoi Exchange. The HNX-Index dropped 3.2 percent to end at 80.46 points, while the HNXFF-Index, composed of stocks with a minimum free float rate of 5 percent, lost 3.07 percent to close at 80.1 points.
The selling pressure was also strong on the blue chips, dragging down the HNX30-Index by 4.11 percent to end at 159.26 points on March 3.
The capital inflow shifted among the different stock categories which helped maintain the high level of liquidity. More than 95 million shares changed hands with a total value of 888.8 billion VND, or 42.3 million USD.
PetroVietnam Construction Joint Stock Corporation (PVX) continued to lead the bourse by liquidity with nearly 14 million shares being traded.
Only 59 codes on the northern bourse added value on March 3, while 201 others tumbled.
Although there was no negative information heard on March 3, the market posted huge losses, according to Vietnam Investment Securities, which added that the losses might continue to occur in several coming trading sessions, though they might be milder as the financial pressure would ease.-VNA
On the Ho Chi Minh City Exchange, the VN-Index tumbled 2.23 percent – the largest drop since August last year – to finish at 573.38 points.
Most blue chips slid, causing the VN30-Index which tracks the southern city's top shares by capitalisation and liquidity, to post a greater loss of 2.99 percent to end at 643.95 points.
Among the VN30 stocks, only Hoa Phat Group (HPG) and PetroVietnam Transportation Corporation (PVT) managed to increase on March 3, making modest gains of 100 VND, or 0.0074 USD, per share, while Kinh Do (KDC) and Becamex IJC (IJC) kept their reference prices.
Meanwhile, Masan Group (MSN) declined 4.9 percent to end at 97,000 VND, or 4.6 USD, per share and PetroVietnam Drilling Corporation (PVD) lost 4.3 percent to finish at 78,000 VND, or 3.7 USD, per share.
Technology firm FPT Group (FPT), Hoa Sen Group (HSG), Pha Lai Thermoelectric Company (PPC), REE Corporation (REE), real estate giant Vingroup (VIC), Sacombank (STB), property developer Hoang Anh Gia Lai (HAG), PetroVietnam Fertilisers and Chemicals Corporation (DPM) and Southern Rubber Corporation (CSM) also made losses.
Overall, on the southern bourse on March 3, only 45 codes managed to add value while 212 codes slid. As the selling pressure intensified in the afternoon trading and completely dominated it, the benchmark index slid abruptly.
However, a significant capital inflow was injected into the market with the trading value on the southern bourse reaching more than 2.3 trillion VND, or 109.5 million USD, on the exchange of nearly 143.3 million shares.
On both the bourses, the trading value totalled more than 3.2 trillion VND, or 152.3 million USD, which was still at a high level.
During the past two weeks, the losses of benchmark indices often went along with improved liquidity, as seen on February 20 and 27, reflecting the activeness of sellers, a stock analyst said.
The losses were even larger on the Hanoi Exchange. The HNX-Index dropped 3.2 percent to end at 80.46 points, while the HNXFF-Index, composed of stocks with a minimum free float rate of 5 percent, lost 3.07 percent to close at 80.1 points.
The selling pressure was also strong on the blue chips, dragging down the HNX30-Index by 4.11 percent to end at 159.26 points on March 3.
The capital inflow shifted among the different stock categories which helped maintain the high level of liquidity. More than 95 million shares changed hands with a total value of 888.8 billion VND, or 42.3 million USD.
PetroVietnam Construction Joint Stock Corporation (PVX) continued to lead the bourse by liquidity with nearly 14 million shares being traded.
Only 59 codes on the northern bourse added value on March 3, while 201 others tumbled.
Although there was no negative information heard on March 3, the market posted huge losses, according to Vietnam Investment Securities, which added that the losses might continue to occur in several coming trading sessions, though they might be milder as the financial pressure would ease.-VNA
