VN-Index falls below 1,700 points

This morning (December 26th), Vingroup 's stocks (VIC, VHM, VPL, VRE) continued to fall sharply, reaching their lower limit, with no buyers at all. Simultaneously, red spread across many other sectors on the stock exchange, pushing the VN-Index below 1,700 points. At the close of the morning session, the VN-Index fell 52.38 points, or 3.01%, to 1,690.47 points. On the Hanoi Stock Exchange, the HNX-Index also decreased by 2.7 points, or 1.08%, to 248.28 points.

VN-Index rớt dưới 1.700 điểm- Ảnh 1. — Vingroup's group of stocks plummeted, dragging the VN-Index below 1,700 points on the morning of December 26.

The three stocks VIC, VHM, and VRE, among the top 30 largest capitalized stocks on the HOSE exchange, all fell to their lower limit right from the start of the trading session, and were also the three biggest losers in the basket. VIC dropped to 147,000 VND, VHM to 106,300 VND, and VRE to 30,000 VND. Similarly, VPL also fell to 92,100 VND. Vingroup's stocks experienced sharp declines over the past two sessions following news that Vingroup had requested to withdraw its investment registration for the North-South High-Speed Railway project, which it had submitted to the Government in May.

The decision to withdraw was carefully considered by the corporation to ensure maximum focus of resources on key strategic infrastructure projects that had just been assigned to them. A prime example is the Olympic Sports City project in Hanoi, spanning over 9,000 hectares, centered around a complex of high-quality sports facilities, including the Trong Dong Stadium – the world's largest...

Conversely, within the VN30 basket, four stocks bucked the trend, continuing to rise despite the market's sharp decline. These were VNM, GAS, HPG, and SAB. This also partly helped the VN30-Index fall by 2.89%, a smaller decline than the overall VN-Index.

Notably, amidst the gloomy market, Pomina's POM stock continued its upward trend, hitting the ceiling price with over 4.3 million units of buy orders at the ceiling price. POM shares reached 5,500 VND/share, marking its eighth consecutive ceiling-price session, bringing it close to its nearly two-year high. Significantly, Pomina's stock revived while under trading restrictions, only allowed to trade on Fridays. In just two months, POM has surged 175% in value, nearly tripling its price at the end of October.

Pomina's stock surged dramatically after the company received support from VinMetal Production and Trading Joint Stock Company - a member of Vingroup. Vingroup will provide Pomina with a working capital loan for up to two years at 0% interest. This preferential funding from Vingroup will help Pomina improve its cash flow, restore its supply chain, ensure stable production operations, and gradually recover its financial and business indicators. Vingroup will also prioritize Pomina as a steel supplier for member companies within the Group's ecosystem such as VinFast, Vinhomes, VinSpeed, etc., contributing to ensuring sustainable output for the business.

Source: https://thanhnien.vn/nhom-co-phieu-vingroup-bi-ban-manh-vn-index-rot-duoi-1700-diem-185251226114015116.htm