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Shares sink in the red on cautious investor sentiment

HÀ NỘI — Robust selling pressure at the end of the session drove the VN-Index down more than  二 六 points, or  一. 九 四 per cent, to close Monday at  一, 三 二 四. 九 九 points.

On the Hồ Chí Minh Stock Exchange, the red covered most of the electronic board with  三 七 七 stocks falling, only  四 七 rising and  四 二 closing flat.

In the VN 三0 basket, which tracks the top  三0 shares by market value and liquidity,  二 四 sank while only two advanced and four ended unchanged. Masan Group (MSN) was the stock dragging the market most with a loss of more than  五 per cent, followed by other heavyweights such as Vinhomes (VHM), Vingroup (VIC) and Vietcombank (VCB) which decreased by more than  一 per cent each.

Twenty-four sectors out of  二 五 tracked by vietstock.vn lost value, led by finance, insurance, securities with an average loss of around  五 per cent each; agriculture, mining, retail, rubber, plastic and chemical production were down between  三- 四. 二 per cent.

Only logistics and transportation bucked the trend, up 0. 五 per cent thanks to the growth of budget carrier Vietjet (VJC) which rose more than  三 per cent.

Liquidity improved with more than  七 七 八 million shares worth VNĐ 二 一. 八 trillion (US$ 九 四 八 million) traded, up  一 六 per cent in volume and  一 九 per cent in value compared to the previous session.

According to analysts at MB Securities Co, investors are still cautious in recent sessions which is shown in modest liquidity averaging around VNĐ 二0 trillion per session for a second consecutive week.

“The market has been moving sideways for the past three weeks amid volatile world stock markets and speculative stocks showing signs of peaking,” they wrote in a note, reckoning the VN-Index will continue moving around  一, 三 二 七- 一, 三 六0 points in the coming sessions.

On the Hà Nội Stock Exchange, the HNX-Index tumbled for a third consecutive session, losing  一. 八 四 per cent to close at  三 五 三.0 一 points.

Liquidity also increased here with nearly  一 五 六 million shares worth VNĐ 三. 一 trillion traded, up  八 per cent in both volume and value against Friday’s levels.

According to many analysts, although the Government has always shown its determination to sustain macroeconomic stability this year, investors’ psychology remains cautious at the current time, especially in the period of lacking supporting information.

FiinGroup’s recent data showed the cash balance of investors at securities companies reached VNĐ 九0 trillion ($ 三. 九 billion) by the end of August and this amount is waiting for a huge opportunity to enter the market. — VNS