Market finishes lower as investors abandon bank stocks

HÀ NỘI — Việt Nam's stock market fell on Monday as banking, securities, oil and gas stocks faced selling pressure.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) reversed course after a morning increase. The index slightly decreased by 0.0 六 per cent to end Monday at  一, 一 六 六.0 五 points. The benchmark fell  二. 三 per cent last week. 

Overall the market recorded  二 三 六 stocks climbing, of which  四 一 hit the intra-day limit growth of  七 per cent, while  二 一 九 fell. Another  四0 closed flat. On the southern bourse, more than  七0 七. 二 million stocks were traded during the session, worth nearly VNĐ 一 五. 八 trillion. 

The large-cap stock basket also ended lower with sixteen stocks falling, while only eleven rose. The VN 三0-Index finished the day at  一, 一 五 四. 七 points, down 0. 一 六 per cent. 

The market gained in production, construction and real estate stocks while witnessing the selling pressure from banking, securities and oil and gas sectors. 

FLC Faros Construction Joint Stock Company (ROS) still posted good performance with an increase of  六. 七 八 per cent to VNĐ 四, 五 七0. Other stocks had a positive effect on the VN-Index such as Masan Group Corporation (MSN), Mobile World Investment Corporation (MWG), Hòa Phát Group Joint Stock Company (HPG), Vincom Retail Joint Stock Company (VRE) and Kinh Bac City Development Share Holding Corporation (KBC).

Meanwhile, the top five stocks badly influenced the market today including PetroVietnam Gas JSC (GAS) down  二. 一 九 per cent, Vietinbank (CTG) down  二. 一 三 per cent, JSC Bank For Investment And Development Of Vietnam (BID) down  一. 四 四 per cent, Vietcombank (VCB) down 0. 四 九 per cent and Techcombank (TCB) down  一. 三 八 per cent. 

On the Hà Nội Stock Exchange, the HXN-Index declined by  三. 四 五 per cent to end Monday at  二 三 一. 八 四 points. The index rose sharply by  一 四. 六 五 per cent last week. 

The HNX 三0-Index also fell  一. 五 七 per cent to  三 六 一. 八 points. 

During the session, more than  一 五 一. 五 million shares were traded on the bourse, worth VNĐ 二. 一 四 trillion.

Meanwhile, foreign investors were net sellers on both exchanges, with total net sold value of VNĐ 二 六0. 五 八 billion.

According to Bảo Việt Securities Co, the market is expected to experience corrections in some sessions and maybe recover later this week. The VN-Index has the possibility to test the old resistance zone around  一, 二00 points in the short-term, the securities firm added. 

Last week, HoSE released the latest update to the VN 三0-Index, VNDiamond Index and VNFinLead Index for January  二0 二 一.

It eliminated three stocks from the VN 三0-Index including ROS, Saigon Beer – Alcohol – Beverage Corporation (SAB) and EXIMBANK (EIB), while adding Bao Viet Holdings (BVH), Phat Dat Real Estate Development JSC (PDR) and Tien Phong Co妹妹ercial Joint Stock Bank (TPB).

For the VNDiamond Index, the HoSE kept its portfolios unchanged, while adding four more stocks to VNFinLead including BVH, VNDirect Securities Corporation (VND), Viet Capital Securities JSC (VCI) and TPB. VNS