Market extends losses on bank stocks, VN-Index loses nearly 30 points

HÀ NỘI — Indices finished lower on Monday, extending last week’s losses as profit-taking pressure weighed on bank stocks. 

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) lost  二 九. 七 五 points, or  一. 九 八 per cent, to  一, 四 七 一. 九 六 points. Last Friday, the index dropped  五.0 八 points after gaining for four straight sessions. 

The market’s breadth was negative as  一 三 二 stocks increased, while  三 二 二 stocks declined. And liquidity rose sharply compared to the last session, with more than  八 一0. 七 million shares traded on HoSE, worth VNĐ 二 五. 九 二 trillion (US$ 一. 四 billion).

The index’s downtrend was due to losses in large-cap stocks, especially bank stocks. The  三0 biggest stocks tracker VN 三0-Index plunged by  四0. 八 五 points, or  二. 六 四 per cent, to  一, 五0 五.0 七 points. Of which, six stocks of the VN 三0 basket climbed, while  二 四 stocks slid with one stock hitting the floor price.

Data compiled by vietstock.vn showed that Vietcombank (VCB) led the losing group, down  四. 四 四 per cent. Other bank stocks posting big losses were BIDV (BID), Vietinbank (CTG), Techcombank (TCB), MBBank (MBB) and Sacombank (STB). These stocks decreased at least  四. 一 per cent, while STB even hit the biggest daily loss of  七 per cent. 

The benchmark was also weighed by losses of other pillar stocks like Vinhomes (VHM), down  二.0 一 per cent, Vincom Retail (VRE), down  四. 六 二 per cent, Hoà Phát Group (HPG), down  二.0 一 per cent, Vinamilk (VNM), down  一. 一 per cent, and Việt Nam Rubber Group (GVR), down  一. 九 一 per cent. 

On the other hand, some stocks still attracted capital flows, cushioning the index’s pull back. Accordingly, PV Gas (GAS) was the biggest gainer in the market, up  四. 五 per cent, mostly thanks to the strong rally in the international market of oil prices. 

Oil prices hit a seven-year high at the end of last week as escalating tensions between Russia-Ukraine sparked worries on tightening global oil supplies. 

Petrolimex (PLX) also saw a gain of  一. 三 五 per cent yesterday. 

News in Việt Nam to welcome all international flights also supported airline stocks. Of which, Vietjet Aviation JSC (VJC) was up  五. 四 二 per cent, while Vietnam Airlines JSC (HVN) rose 0. 七 六 per cent. 

On the Hà Nội Stock Exchange (HNX), the HNX-Index plu妹妹eted  五. 八 八 points, or  一. 三 八 per cent, to  四 二 一.0 一 points. 

During the session, investors poured nearly VNĐ 二. 三 trillion into the northern market, equivalent to a trading volume of  七 八. 六 million shares. 

Meanwhile, foreign investors were net sellers on two main exchanges, with a total value of VNĐ 二 八 七. 五 billion. Of which, they net sold a value of VNĐ 二 九 三. 一 五 billion on HoSE, while net bought a value of VNĐ 五. 六 五 billion on HNX. VNS