Stocks plummeted due to a sell-off.

SGGPO 18/09/2023 16:53

Under increasing selling pressure to cut losses, the VN-Index continued its downward trend in the first trading session of the week, falling sharply towards 1,200 points. The number of declining stocks was three times higher than the number of rising stocks.

Investors sold off their holdings, plunging the market into the red.

The Vietnamese stock market on September 18th not only witnessed a sell-off by domestic investors, but foreign investors also continued to net sell nearly 478 billion VND on the HOSE exchange, contributing to a loss of nearly 16 points in the VN-Index.

Most major sectors in the market declined. Banking stocks were mostly in the red, with EIB falling by 6.5%; TCB, CTG, BID,VIB … all down over 2%; VCB down 1.11%, VPB down 1.77%... The real estate sector also saw sharp declines, especially large-cap stocks such as: VHM down 3.07%, VIC down 1.12%, BCM down 1.45%, VRE down 2.46%, NVL down 3.97%, PDR down 1.72%, DIG down 1.47%...

Securities stocks saw positive gains in the morning session, but many also experienced sharp declines in the afternoon, such as VIX down 2.81%, TVS down 3.16%, ORS down 1.55%, and VDS down 1.1%. Conversely, some stocks maintained their gains, such as VND up 2.29%, FTS up 1.26%; SSI, HCM, BSI, AGR, CTS… all increased by nearly 1%.

While the overall market plummeted, seafood and steel stocks bucked the trend. Specifically, VHC rose 4.92%, IDI 2.16%, ANV 2.24%, HSG 1.87%, and NKG 0.23%...

At the close of trading, the VN-Index fell 15.55 points (1.27%) to 1,211.81 points, with 399 stocks declining, 122 stocks rising, and 44 stocks remaining unchanged.

At the close of trading on the Hanoi Stock Exchange, the HNX-Index also fell 2.28 points (0.9%) to 250.48 points, with 134 stocks declining, 58 stocks rising, and 55 stocks remaining unchanged. Liquidity decreased compared to the previous session, with the total trading value across the market reaching only nearly 22,000 billion VND.

Source: https://www.sggp.org.vn/chung-khoan-giam-sau-vi-bi-ban-thao-post706086.html