VN-Index loses the 1,200-point mark.

Stocks continued their downward trend on April 17th, with the VN-Index falling more than 22 points to below 1,200 points, amid widespread selling pressure in the banking sector.

Red continued to be the dominant color in today's session, as the rebound at the end of yesterday's session failed to improve market sentiment.

Global geopolitical tensions, the Fed's prolonged interest rate cut trajectory, and recent rising exchange rate pressures have fueled cautious sentiment in the market. The VN-Index fluctuated after the opening auction, trading sideways near the reference level until the end of the morning session with significantly reduced liquidity. Trading value on the HoSE before lunchtime reached just over 7,000 billion VND, a sharp decrease compared to previous volatile sessions.

In the afternoon session, selling pressure intensified. Many investors accepted losses to exit their positions, causing the HoSE index to widen its decline. The VN-Index lost more than 15 points in just 15 minutes of afternoon trading.

The index recovered slightly in the middle of the session before continuing its decline. At the close, the VN-Index fell more than 22 points (1.86%), dropping below 1,200 points. The VN30-Index lost nearly 22 points (1.78%), falling to 1,210 points. On the Hanoi Stock Exchange, both the HNX-Index and UPCOM-Index closed below their reference levels.

Liquidity decreased sharply. The total market trading value reached over 21,400 billion VND, with the HoSE exchange accounting for over 89%. This is a decrease of over 12,000 billion VND compared to the previous session. Foreign investors sold net nearly 1,000 billion VND today.

At the end of the trading session, the HoSE exchange saw 137 stocks rise and 348 stocks fall.

Investor capital is concentrated in three main sectors: real estate, banking, and financial services.

Within the VN30 index, banks were the leading group negatively impacting the index. BID and CTG fell 4%,SHB , TPB, MBB, and VPB lost 3%, while STB, VIB, and HDB were around 2% below the reference level.

Among other groups, GVR fell by over 5%. Meanwhile, BCM, VJC, and SSI lost 2% of their market value.

Conversely, MSN was the most actively traded stock, closing up more than 1%. Bloomberg , citing sources, reported that Masan is considering listing its consumer goods segment. The deal could potentially become Vietnam's largest initial public offering (IPO) to date.

Besides MSN, VNM, POW, and SSB also closed in positive territory.

In the mid-cap group, selling pressure also spread. In the mid-cap group, real estate, construction, and securities stocks fell sharply. FTS hit the floor price, BSI and BVS dropped over 6%, and VCI and CTS lost more than 5%.

In the real estate sector, most stocks closed in the red, falling 1-3%. QCG bucked the trend, surging to its ceiling price of 16,700 VND, with nearly 1.4 million shares changing hands.

Minh Son

Source link