Business

Bearish sentiment sends market down

SGGP
The Vietnam’s stock market closed in red for a second consecutive trading session on June 12 due to increasing selling pressure.

Bearish sentiment sends market down

Bearish sentiment urged investors to dump shares heavily, causing several large-cap stocks to plummet drastically. Of which, VHM fell 2.3 percent, GAS dropped 2.4 percent and PNJ lost 2.8 percent.

At the same time, gas and oil stocks, such as GAS, PVD, PVS and PVC also sank, dragging the benchmark down by nearly 8 points.

Noticeably, after net buying for many trading sessions, foreign investors switched to net sell for VND21.5 billion.

The VN-Index lost 7.9 points, or 0.82 percent, to close at 954.17 points with 107 winners, 183 losers while 58 stocks were unchanged.

The HNX-Index of the smaller bourse in the north slid 0.4 points, or 0.38 percent, to finish at 103.56 points. Of the index, 58 stocks ascended, 61 descended and 56 were unmoved.

However, liquidity on the market remained at low level with total trading volume at 165.4 million shares worth VND4.2 trillion (US$180.27 million).

By Nhung Nguyen – Translated by Thuy Doan

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