Shares of Vietnamese billionaires were sold heavily, VN-Index dropped more than 40 points

(NLDO) – The stock market sell-off caused the VN-Index to lose more than 40 points, including a series of stocks owned by many Vietnamese billionaires.

Contrary to investors' expectations of the next increase, the stock market surprised everyone by plummeting as soon as it opened. The VN-Index lost more than 40 points in the morning session alone, falling from 1,690 points to just 1,646 points. At the beginning of the session, the index widened its decline to 50 points, then narrowed thanks to bottom-fishing buying pressure.

However, a series of stocks in groups and industries from banking, securities, real estate, oil and gas, fertilizer, chemicals, and seaports all decreased from 3% to 5%; many stocks fell close to the floor price.

The stock market was red this morning.

Banking stocks in particular were strongly differentiated, while VCB, BID, OCB, MSB, NAB traded in green, contributing to maintaining the general market index; on the contrary, VPB, TCB, MBB,ACB were sold heavily. VPB decreased by 6.34%; TCB decreased by 4.2%; MBB decreased by 3.55%...

Notably, during the stock market's downward session, the stocks of many Vietnamese billionaires also adjusted down after a series of continuous increases.

Vingroup shares of billionaire Pham Nhat Vuong including VIC, VHM, VRE decreased from 1%-5%; HDB, VJC shares of billionaire Nguyen Thi Phuong Thao also decreased from 3.6%-4.9%; HPG shares of billionaire Tran Dinh Long decreased by 3.8%...

In the morning session alone, the transaction value on the HOSE floor was approximately 32,000 billion VND. Foreign investors have been net sellers for 10 consecutive sessions, of which this morning alone the transaction value was more than 1,200 billion VND.

The stock just bought has suffered a heavy loss.

According to the reporter of Nguoi Lao Dong Newspaper , on all forums and investment groups, many people said they bought real estate and securities stocks 1-2 days ago. By this morning, the stocks had not yet been transferred to their accounts but had suffered heavy losses of 10%-15%, some investors using margin (borrowed capital) suffered even heavier losses.

Foreign investors net sold for 10 consecutive sessions

"In recent sessions, real estate stocks have shown signs of slowing down and then decreasing, I have continuously bought at average prices. As of this morning, a series of stocks such as CEO, DIG, DXG, NTL, HDC, HBC... have all lost 6%-8%, my account is suffering heavy losses" - Mr. Hoang Tien (an investor in Ho Chi Minh City) worried.

Mr. Phan Dung Khanh, Investment Consulting Director, Maybank Securities Company, said that the adjustment of the stock market in the short term after a series of consecutive hot increases in the past few months is necessary. Looking at the medium and long term, the market is still in an uptrend, so investors need to manage portfolio risks in the short term.

Vietnam Construction Securities Company (CSI) also believes that new stock purchases should be cautious and limit chasing at this time. Investors maintain the view of keeping a larger cash ratio, patiently waiting for disbursement opportunities when VN-Index builds a foundation for accumulation in a more balanced state.

Source: https://nld.com.vn/co-phieu-cua-cac-ti-phu-viet-bi-ban-manh-vn-index-giam-hon-40-diem-196250822130502809.htm