Market falls for second day in a row

March 03, 2023 - 17:07
The loss was attributed to stronger selling force and the outflow of foreign capital.
A customer at Vietcombank's transaction office in Hà Nội. The bank's shares plugged nearly 2.5 per cent on the last trading day of the week, leading the market's downtrend. — VNA/VNS Photo 

HÀ NỘI — Shares ended the week on a negative note, hit by stronger selling force and the outflow of foreign capital. 

The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) fell 12.84 points, or 1.24 per cent, to 1,024.77 points. 

It lost for the second day as risk averse sentiment spreaded through the market. 

On the southern market, 256 stocks inched down while 75 increased. Liquidity, however, improved with more than 447.7 million shares traded on HoSE, worth over VNĐ7.2 trillion (US$304 million).

The VN30-Index, tracking the 30 biggest stocks on HoSE, also ended the week lower, down 15.38 points, or 1.5 per cent, to 1,013.35 points. 

Up to 26 stocks of the VN30 basket performed poorly, while only one added up and three ticker symbols were flat.

Data compiled by showed that Vietcombank (VCB) was the leader of the downside on Friday, posting a loss of 2.47 per cent in market capitalisation. 

It was followed by other influencers such as Masan Group (MSN) which was down 3.8 per cent, BIDV (BID) which dipped 1.08 per cent, VPBank (VPB) which lost 1.73 per cent, and Asia Commercial Joint Stock Bank (ACB) also down 2.2 per cent. 

Other pillar stocks posting great losses were Hòa Phát Group (HPG), Vietnam Rubber Group (VRE), FPT Corporation (FPT), and Mobile World Investment Corporation (MWG). These stocks plummeted in a rage of 1-2.23 per cent. 

Similarly, the HNX-Index on the Hà Nội Stock Exchange (HoSE) reported a decrease of 1.25 points to 204.89 points, or a fall of 0.61 per cent. 

During the trading day, investors poured nearly VNĐ1.1 trillion into the northern bourse, equal to a trading volume of over 67.7 million shares. 

Also weighing on the sentiment, foreign investors continued to withdraw capital from the market. They sold a net value of VNĐ119.53 billion on both main exchanges, of which they net sold VNĐ126.53 billion on HoSE while bought a net value of VNĐ7 billion on HNX. — VNS