Selling pressure sends stock market falling

30-Nov-2021 Intellasia | TheSaigonTimes | 5:02 AM Print This Post

The strong selling pressure dragged many stocks down, pulling the VN Index of the Hochiminh Stock Exchange below the 1,500-point level.

At the close, the benchmark index lost 7.78 points, or 0.52%, from the session earlier, at 1,493.03 points, with decliners outnumbering gainers by 315 to 166.

Trade volume totalled over 1.1 billion shares worth VND35.4 trillion, down 3.95 percent in volume but up 11.36 percent percent in value over the day earlier. Of the total, 53.83 million shares valued at VND2.62 trillion were traded in block deals.

Real estate stock VIC helped save the market from a steep loss with a contribution of 4.5 points to the main index. It ended up 4.8 percent at VND98,500 and saw 8.67 million shares matched.

Other blue-chip stocks with a positive increase included lender VPB rising by 3.2 percent and property firms PDR and NVL by 1.7 percent and 1.6%, respectively. In addition, dairy giant VNM and bank stocks STB and BID inched up a slight 0.5%.

Except for these seven stocks, 22 other stocks in the VN30 basket fell. Specifically, brewery SAB, securities company SSI, rubber group GVR and fuel distributor PLX lost over 2 percent each.

Bank stocks have put pressure on the main index as many of them extended losses. For example, VCB lost nearly 2%, CTG slid 2.42%, and TPB and HDB reported the sharpest fall in the group with a decline of 3.5 percent each.

Similarly, among securities stocks, only HCM and VIX edged up, while others dropped, such as VND by 3.8%, SSI by 2.7 percent and VCI by 2.5%.

Steel stocks were traded more positively. Except for HPG, the remainder extended growth. TLH and SMC closed at their ceiling prices, while NKG and POM rose 2.8 percent each.

On the Hanoi Stock Exchange, the HNX-Index lost 1.04 points, or 0.23%, at 458.63. Over 133.67 million shares worth VND3.7 trillion changed hands.

Construction firm THD added 1.43 percent at VND248,000, saving the HNX-Index from a further loss.

Moreover, CEO, another construction stock, surged 9.8 percent to close at its ceiling price, at VND42,500, and real estate firm L14 soared 10 percent at VND286,700.

Securities firm SHS was the best performer on bourse in terms of liquidity with over 11.43 million shares transacted. It dropped 2.3 percent at VND54,200.

https://english.thesaigontimes.vn/selling-pressure-sends-stock-market-falling/

 

Category: Stocks, Vietnam

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