VN-Index slides further to 960 points

Heavy selling pressure sent the VN-Index tumbling by more than 40 points on June 19 before active bottom fishing helped it narrow the massive loss at the close.

The main index ended the session at 962.16, shedding 25.18 points, or 2.55%, against the previous day as losers far outnumbered gainers by 257 to 46. Large block deals of property firm NVL, lender TCB and technology giant FPT spurred turnover upward on the HCMC exchange, with volume and value surging 38% and 47% at 250.9 million shares worth VND6.8 trillion.

Some heavyweights saw their losses falling, where TCB closed the day down 5% at VND95,000 per share, while property firm VIC slid 0.3% at VND123,000 per share. Having plunged to the intraday low of VND54,000, lender VCB ended at the reference price of VND56,500 per share.

Steel maker HPG led the market for liquidity, with 13.1 million shares exchanged, dipping 4.6% to VND38,350 per share. Many bank stocks were highly liquid, with CTG and VCB reporting matching volume of 8.2 million shares and over five million shares, respectively.

Among key laggards, ROS closed at the floor price of VND51,200 per share on volume of 600,000 shares. Some blue chips also racked up the maximum loss, where property firm HBC and financial enterprise FIT had trading volume of 2.9 million shares and 1.3 million shares, respectively.

The HNX-Index fell a hefty 2.47 points, or 2.18%, at 110.58, given that up to 25 of the 30 stocks in the HNX30 basket closed in the red. Turnover on the Hanoi market jumped 43% in volume and 27% in value to 61.6 million shares worth VND975 billion.

Top heavyweight ACB made the most negative contribution to the day’s loss as the lender dropped 2% to VND39,000 per share. PVS, an oil and gas enterprise, moved sideways at VND39,000 per share.

SHB again took the lead for liquidity, with 12.2 million shares traded, but the bank slumped 3.4% to VND8,500 per share. ACB was the second most heavily traded stock, with 8.6 million shares, followed by PVS, with 5.6 million shares.

Foreigners extended their strong selling sequel, net selling VND119.5 billion on the southern market. Meanwhile, the investors net bought a slight VND11.7 billion on the northern exchange, focusing on shares of PVS, building materials firm VCG and mining enterprise AMC.

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