Stock market

VN-Index slides for four straight days due to heavy share dumping

SGGP
Despite foreign investors’ bottom fishing, the Vietnam’s stock market extended losing momentum to the fourth day on April 18 because of selling pressure caused by local investors.

VN-Index slides for four straight days due to heavy share dumping

Several large cap stocks plummeted, including SAB which lost 6.4 percent, MSN which fell 2.3 percent and CTG which dropped 2.1 percent, dragging the benchmark to below 965 points.

Noticeably, foreign investors continued to net buy for four consecutive trading sessions with total value of nearly VND200 billion while local investors dumped shares heavily.

The VN-Index, which tracks movements of 348 companies and mutual funds on the Ho Chi Minh Stock Exchange, sank 9.8 points, or 1.01 percent, to close at 962.3 points. Of the index, there were 74 winners, 214 losers while 60 stocks remained unchanged.

The HNX-Index of the smaller bourse in the north retreated 0.68 points, or 1 percent, to close at 191.24 points with 71 stocks advancing, 80 declining and 59 standing still.

Market liquidity remained at low level with total trading volume of 193 million shares worth VND3.6 trillion.

By Ha My – Translated by Thuy Doan

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