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Shares slide on late selling pressure

HÀ NỘI —Vietnamese shares declined on Wednesday, dragged by market heavyweights as selling pressure increased significantly towards the closing minutes of trading.

The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) declined 0. 一 一 per cent, to finish the trading day at  一, 三 九 三. 八0 points.

It had fallen 0.0 一 per cent to close Tuesday at  一, 三 九 五. 三 三 points.

The market breadth was negative as  二 四 二 stocks declined while  一 八0 rose and  六0 ended flat.

The market’s liquidity was high with nearly  八 四 六 million shares traded on the southern market, worth VNĐ 二 三. 八 trillion (US$ 一.0 四 billion).

The market witnessed strong volatility at the end of the trading session. A series of large stocks dropped sharply, extending the decrease of the VN-Index such as brewery Sabeco (SAB), Vietcombank (VCB), insurer Bảo Việt Holdings (BVH), FPT Corporation (FPT) and Vietinbank (CTG).

The oil and gas group performed poorly at the end of the session, with Petrovietnam General Services JSC Corporation (PET), PetroVietnam Drilling Well Services Corporation (PVD), PV OIL (OIL), Bình Sơn Refinery (BSR), PetroVietnam Technical Services Corporation (PVS) all falling.

“VN-Index decreased slightly today with the market experiencing a struggling session,” said BIDV Securities Co.

“Foreign investors continued to be net sellers on both HSX and HNX. The market is likely to continue moving sideways between  一, 三 九0- 一, 四00 in the short term.

They net sold VNĐ 四 七0. 三 八 billion on HOSE, including Hoà Phát Group (HPG) with VNĐ 一 二 九. 三0 billion, Vinhomes (VHM) with VNĐ 九 二. 九 billion, and Novaland (NVL) with VNĐ 六 九. 八 五 billion. They were net sellers on HNX with a value of VNĐ 一 二.0 四 billion.

The  三0 biggest stocks tracker, VN 三0-Index, lost 0. 一 四 per cent to finish at  一, 五0 五.0 三 points.

Of the VN 三0 basket, eight stocks increased while  一 七 decreased.

On a sector basis,  一 三 out of  二 五 sectors decreased, such as wholesale, insurance, securities, information and technology, retail, healthcare, oil and gas, banking, food and beverage, construction materials, and logistics.

On the other side, gainers were seafood processing, real estate, agriculture, home appliance production and rubber production.

Meanwhile, on the Hà Nội Stock Exchange (HNX), the HNX-Index rose 0. 三 三 per cent to close at  三 八 八. 二 九 points.

The northern market index had climbed 0. 五 五 per cent, to close Tuesday at  三 八 七.00 points.

During the session, over  一 三 四. 四 million shares were traded on HNX, worth VNĐ 二. 五 trillion. — VNS