VN-Index drops as foreign investor net purchases surge
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Vietnam’s benchmark VN-Index dipped 0.11 percent to 1,408.55 points Wednesday but with foreign investors net buying value the highest in nearly three months.
The index remained in the green throughout the day but strong selling pressure in the last hour of trading brough it down nearly 1.5 points, ending a chain of four consecutive gaining sessions.
Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell 1.3 percent to VND21.05 trillion ($913.4 million). The bourse saw 233 tickers lose and 139 gain.
Foreign investors were net buyers to the tune of VND1.75 trillion, the highest since April 9, with strongest pressure on NVL of real estate developer Novaland Group and VHM of real estate giant Vinhomes.
The VN30 basket saw 15 tickers lose, led by PDR of Phat Dat Real Estate Development with a 2.6 percent fall from its new peak Tuesday.
PLX of fuel distributor Petrolimex followed with a 2.5 percent drop to the lowest in two weeks. The ticker has only gained over 2 percent this year while VN-Index has shot up 27 percent.
SBT of sugar producer Thanh Thanh Cong – Bien Hoa JSC fell 2.3 percent, struggling to return to its previous peak in January.
CTG of state-owned lender VietinBank dropped 2.2 percent despite the bank posting a 75 percent year-on-year growth in profit in the first six months.
The ticker contributed most to VN-Index’s loss, bringing it down by 1.2 points.
Both TCB of the largest private lender Techcombank and TPB of private TPBank fell 1.5 percent.
On the winning side MWG of electronics retail chain Mobile World led with a 3.4 percent gain, followed by MSN of conglomerate Masan Group, up 2.7 percent.
The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.15 percent while the UPCoM-Index for the Unlisted Public Companies Market dropped 0.06 percent.
This article was originally published in VNExpress
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