Shares inch lower following region's downtrend

March 15, 2023 - 06:59
This marked the third losing day in a row after collapse cases of two American banks spooked global markets.
Inside a latex processing line of a Vietnam Rubber Group (GVR)'s member in Gia Lai Province. GVR shares plummeted 4.35 per cent on Tuesday, weighing on the market's downtrend. VNA/VNS Photo

HÀ NỘI — The Vietnamese stock market was unable to escape the global downtrend and finished lower on Tuesday.

On the southern bourse Hồ Chí Minh Stock Exchange (HoSE), the VN-Index declined by 12.67 points, or 1.2 per cent, to 1,040.13 points.

This marked its third losing day in a row after the collapse of two American banks spooked global markets.

288 stocks on HoSE edged down, while 50 added points.

The market liquidity was also lower than in the previous session. Of which, investors poured more than VNĐ10.4 trillion (US$443.2 million) into the southern market, equivalent to a trading volume of nearly 621.2 million shares.

The 30 biggest stocks tracker VN30-Index ended the trading day at 1,037.35 points, down 12.72 points or 1.21 per cent.

In the VN30 basket, 25 ticker symbols fell, while two stocks rose and three stayed unchanged.

Data compiled by a financial website showed that BIDV (BID), Hoà Phát Group (HPG), and Vietnam Rubber Group (GVR) led the bearish trend, down in a range of 2.59-4.35 per cent.

Also weighing on the market, Vietcombank (VCB), Techcombank (TCB), Asia Commercial Joint Stock Bank (ACB), Vietinbank (CTG), and MBBank (MBB) posted poor performance with a decrease of at least 0.55 per cent.

In contrast, Sabeco (SAB), Vietnam Airlines (HVN), and Vietjet Aviation JSC (VJC) helped cushion some losses, with SAB being the biggest gainer at 1.6 per cent.

The HNX-Index on the Hà Nội Stock Exchange (HNX) also settled lower on Tuesday. The northern market’s benchmark index fell 3.3 points, or 1.6 per cent, to 202.55 points.

During the session, more than 78 million shares were traded on the bourse, worth VNĐ1.14 trillion.

On the other hand, foreign investors continued to inject capital into the Vietnamese market for the sixth straight session. They net bought VNĐ385.37 billion on HoSE and VNĐ13.49 billion on HNX.

On Monday, they bought the largest amount on HoSE since the beginning of the year.

In Asia markets, indices dipped as investors turned more cautious after the collapses of Silicon Valley Bank and Signature Bank last week. Particularly, Japan’s Nikkei posted the biggest intraday point fall in three months, led by strong sell-off in the bank sector. — VNS