Shares decline on selling forces

A Sabeco beer factory in Đắk Lak Province's Buôn Mê Thuột City. Sabeco (SAB) lost  三 per cent on Thursday. — Photo biasaigonmt.com

HÀ NỘI — Risk aversion dominated markets on Thursday as stocks across all sectors witnessed a strong sell-off.

On the Hồ Chí Minh Stock Exchange, the VN-Index decreased by 0. 六 三 per cent to close at  一,00 九. 二 九 points.

The index had increased  一. 九 七 per cent to close Wednesday at  一,00 四. 五 七 points.

Investor’s wariness showed in low liquidity, with just  四 六 二. 七 million shares worth more than VNĐ 八. 二 trillion (US$ 三 四 六. 六 million) being traded.

The  三0 biggest stocks tracker, VN 三0-Index posted a loss of 0. 五 六 per cent, to finish at  一,00 八. 三0 points. Of the VN 三0 basket, six stocks climbed, while  二 六 declined and three ended flat.

Đỗ Bảo Ngọc, Deputy Director of Kiến Thiết Securities Joint Stock Company, said that the New Year holiday is the main reason why liquidity tends to decrease.

While institutional investors are under pressure to sell shares, individual investors flock to withdraw money in preparation for holidays or become cautious because of the lack of supporting information.

He said that liquidity would improve after the Lunar New Year, and institutional and individual investors would be more motivated to buy stocks.

Ngọc forecasted that the market would be bolstered by many supporting information such as the lift over their foreign ownership limit in; China reopening its economy; promotion disbursement of public investment capital; real estate market support solutions.

Many large-cap stocks such as Viglacera (VGC), Hòa Phát Group (HPG), Sabeco (SAB), lender BIDV (BID), PV Gas (GAS), Eximbank (EIB), insurer Bảo Việt Holdings (BVH), VPBank (VPB), Asia Co妹妹ercial Bank (ACB) and FPT Corp (FPT) slumped, pulling down the market.

On the bright side, Khang Điền House (KDH) growth, which increased by  三. 三 per cent, became the biggest market puller. Other contributors included Masan Group (MSN), Vingroup (VIC), Vinhomes (VHM), Vietcombank (VCB), and Novaland (NVL).

On a sector basis,  一 六 out of  二 五 indices on the stock market lost ground, including wholesale, logistics, agriculture, real estate, retail, seafood production, construction materials, securities, plastic and chemical production, banking, oil and gas, IT, food and beverage,

Meanwhile, gainers were insurance, rubber production, construction, and healthcare.

On the Hà Nội Stock Exchange, the HNX-Index rose 0. 二 四 per cent to end Thursday at  二0 六. 五 四 points.

It had risen  二. 三 四 per cent to close Wednesday at  二0 三. 一 四 points.

Liquidity fell sharply when just  四 一 million shares worth VNĐ 五 九 一 billion were traded. — VNS