VN-Index falls for third straight session

The index fell below 1,720 points and lost nearly 10 points during the morning session before staging a significant recovery in afternoon trade.

An LNG storage tank at the LNG Thị Vải, which is run by PV Gas. Shares of the company soared nearly 4.1 per cent on Monday, cushioning the market's downtrend. — Photo pvgas.com.vn

HÀ NỘI — Benchmark indices extended losses on Monday, but stronger buying demand toward the close helped the VN-Index recover almost all of its morning losses, while declining liquidity continued to signal caution among investors.

On the Hochiminh Stock Exchange (HoSE), the VN-Index ended down 1.62 points at 1,727.46 points. The index fell below 1,720 points, losing nearly 10 points during the morning session before staging a significant recovery in afternoon trade.

The rebound was largely driven by improved demand for selected large-cap stocks, allowing the benchmark to finish close to its reference level.

On the Hanoi Stock Exchange (HNX), the HNX-Index fell 1.35 points to 278.64 points.

Trading activity, however, weakened considerably. Total market turnover reached just over VNĐ14.72 trillion (US$562 million). Trading value was about VNĐ6.05 trillion lower than in the August 14 session.

The softer liquidity reflected continued caution among investors following recent market volatility.

Market breadth nevertheless improved as the session progressed, with 324 stocks advancing against 294 decliners. 

Large-cap stocks also showed a more positive balance. Within the VN30 basket, 19 stocks increased and 10 decreased, while Vinhomes (VHM) finished unchanged. 

Despite the late recovery, pressure from several major stocks prevented the VN-Index from returning to positive territory.

Vingroup (VIC) was among the notable drags, falling 1.2 per cent. Banking stocks also came under pressure, with LPBank (LPB) losing 2.9 per cent, VPBank (VPB) and Vietcombank (VCB) both declining 1.4 per cent, Asia Commercial Joint Stock Bank (ACB) dropping 1.4 per cent, Techcombank (TCB) falling 0.6 per cent and MBBank (MBB) retreating 0.5 per cent.

In contrast, PV Gas (GAS) emerged as one of the strongest supports for the benchmark, climbing 4.1 per cent and making a significant positive contribution to the index. 

Other large-cap gainers also helped narrow the market's losses. Sacombank (STB) and Petrovietnam Refining and Petrochemical Corporation (BSR) both advanced 2.6 per cent, while BaoViet Holdings (BVH) surged 5.4 per cent. HDBank (HDB) gained 1.5 per cent, Mobile World Investment Corporation (MWG) rose 1.5 per cent, and Vinamilk (VNM) added 1 per cent. 

Foreign trading remained another source of pressure. Overseas investors continued to be net sellers, recording net sales of over VNĐ600 billion on the two main exchanges. — BIZHUB/VNS

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