VN-Index hit over two-week low

The session was weak, with profit-taking appearing immediately after the opening and remaining dominant for most of the trading hours. 

A customer buying petroleum at a Petrolimex station in Hà Nội. Petrolimex's shares plunged over 2.3 per cent on Friday, pressuring the market's sentiment. — VNA/VNS Photo

HÀ NỘI — The market ended mixed on Friday, with broad-based selling pressure intensifying throughout the session and dragging the VN‑Index below the 1,880-point threshold.

The session was weak, with profit-taking appearing immediately after the opening and remaining dominant for most of the trading hours. 

On the Hochiminh Stock Exchange (HoSE), the VN‑Index fell 19.76 points, or 1.04 per cent, to 1,877.13 points. This was the lowest close since May 5.

Earlier, the index even lost more than 30 points before a bottom-fishing demand into the late session helped reduce the magnitude of the decline.

Market breadth improved versus the morning, with 133 stocks rising and 177 declining on HoSE. 

Liquidity was steady, with over VNĐ22.3 trillion (US$846.4 million) in value traded.

In the VN30 basket, red also dominated with 22 stocks down, six up and two ending flat. The VN30-Index dropped 16.58 points, or 0.82 per cent, to 2,010.93 points. 

Among sector movers, technology was identified as the biggest drag, with the sector index falling 2.4 per cent. FPT Corporation (FPT) dipped 1.83 per cent. Other technology names also weakened, including Gelex Electricity (GEE) down 4.14 per cent and Elcom Technology Communications Corporation (ELC) down 0.6 per cent.

Energy also suffered meaningful pressure, declining 2.6 per cent and weighing nearly 2.4 points on the overall index. 

A string of oil- and gas-related stocks traded weakly, including Petrovietnam Refining And Petrochemical Corporation (BSR) down 3.26 per cent, PV Drilling (PVD) down 3.66 per cent, Petrolimex (PLX) down 2.33 per cent, PetroVietnam Technical Services Corporation (PVS) down 1.24 per cent and PetroVietnam Chemical and Services (PVC) down 2.53 per cent.

In real estate, stock movements were more divergent, but the overall direction still tilted downward. Vinhomes (VHM) fell 3.75 per cent, Vincom Retail (VRE) lost 3.35 per cent and Vingroup (VIC) declined 1.01 per cent. The three stocks together erased over 9 points from the VN-Index. 

In contract, the HNX-Index on the Hanoi Stock Exchange (HNX) gained 3.14 points, or 1.19 per cent, to 267.51 points. 

Also adding pressure on the market, foreign investors net sold more than VNĐ3.24 trillion on HoSE and nearly VNĐ30 billion on HNX. — BIZHUB/VNS
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