Investors register trade at ACB Securities trading floor. (Source: VNA)Thebenchmark VN-Index, the measure of 317 stocks on the HCM Stock Exchange,decreased 1.6 percent to close at 665.3 points. It lost a cumulative 2.7 percentin the last three sessions.
Onthe Hanoi Stock Exchange, the HNX-Index tracking 374 stocks dipped 1.1 percentto 80.1 points. The Index lost 1.6 percent in the last three trades.
Marketbreadth was negative with 294 of total 691 stocks down and only 123 advancing.
Large-capstocks were the main drag as the top 10 lost value. Of the top 30 largestshares by market capitalisation and liquidity, only two advanced while 25declined.
Thebiggest listed stock Vinamilk (VNM) was down 4 percent to end at 129,200 VND (5.74USD), pulled down by heavy foreign sells. Vinamilk topped the foreigners’most-sold list with a net value of nearly 230 billion VND, lifting theseven-day net sell value to 893.5 billion VND.
Unexpectedselling of Vinamilk by foreign investors affected domestic investor psychologyand rattled the market, analysts at the brokerage department of VietstockFinance wrote in a daily report.
Foreigntraders extended their sells on the HCM Stock Exchange to eight days in a rowwith a total value of over VNĐ1.4 trillion. They focused on offloadinglarge-cap shares such as Vinamilk, VinGroup (VIC), Masan Group (MSN), Bao VietHoldings (BVH), Hoa Phat Group (HPG) and Saigon Securities Inc (SSI).
MasanGroup plunged 5.9 percent and Bao Viet Holdings declined 4 percent.
Theforeign sector was also a net seller in the Hanoi market for a value of 16.4billion VND and a combined net sell of 10 billion VND last week.
“Short-termrisks can return if there is no support factors perking up demand this week,”analysts at FPT Securities Co wrote in a note.
Liquidityincreased with over 171 million shares worth a combined 3.3 trillion VND (146.7million USD) traded in the two markets, up 12.3 percent in volume and 22.2 percentin value compared to the daily average of last week.-VNA
VNA
