Heavy afternoon selling sees Index finish under 990 points.
by My Van
Massive supply in the afternoon sent both the VN-Index and the HNX-Index tumbling, with the former slipping down under 1,000 points and then 990.
It shed 29.17 points (2.87 per cent) to close at 987.34 points, with 74 stocks rising and 217 falling. Total trade was 181.39 million shares and VND4.6 trillion ($201.7 million), up 9.6 per cent in volume but down 6.42 per cent in value against last Friday. Put-through transactions contributed 35.8 million units worth VND925.5 billion ($40.5 million).
Demand eventually returned when investors became interested in the low prices.
Banking was hardest hit. VCB fell 4.24 per cent, TCB 4.94 per cent, CTG 4.61 per cent, BID 5.86 per cent, VPB 0.98 per cent, MBB 4.76 per cent, HDB 5.88 per cent, STB 3.23 per cent, EIB 1.37 per cent, and TPB 2.88 per cent.
Against the trend, HAG saw 12 million units matched and finished up just slightly.
Negative signs were also everywhere on HNX, with its 30 largest caps, including PVS, VCS, SHS, MBS, ACB, SHB, and CEO, all struggling.
PVS, ACB, SHB and ITQ had the best liquidity in the morning, with between 1 million and 2 million shares matched.