Stock Market Experiences Significant Decline on Monday

Strategic Insights -

The Ho Chi Minh Stock Exchange (HoSE) experienced a major downturn on Monday, with the VN-Index plummeting to its lowest level since August 25. The VN-Index closed at 1,624.53 points, marking a 2.55 per cent decline and the biggest drop in several weeks. The market was predominantly red, with 285 stocks declining and only 56 advancing. Liquidity remained high, reaching nearly VNA53.2 trillion (US$2 billion).

Key Takeaways:

  • The VN-Index closed at 1,624.53 points, down 42.44 points, or 2.55 per cent.
  • The market saw 285 stocks decline, compared to only 56 that advanced.
  • The VN30-Index dropped 38.22 points, or 2.07 per cent, to close at 1,807.22 points.
  • The HNX-Index on the Hanoi Stock Exchange (HNX) fell by 9.1 points, or 3.24 per cent, to 271.57 points.
  • The banking group faced significant selling pressure, with all stocks closing below their reference prices.
  • VPBank (VPB) and Eximbank (EIB) hit the floor prices, while larger-cap stocks like Vietcombank (VCB), BIDV (BID) and Vietinbank (CTG) declined by 1.6 per cent to 3.3 per cent.
  • Real estate stocks also took a hit, with declines exceeding 5 per cent for several companies.
  • However, some stocks managed to diverge from the downward trend, with Dat Xanh Group (DXG) and An Gia Real Estate Investment and Development Corporation (AGG) showing gains.

Statistics:

  • The VN-Index decline was 42.44 points, or 2.55 per cent.
  • 285 stocks declined, compared to only 56 that advanced.
  • Liquidity reached nearly VNA53.2 trillion (US$2 billion).
  • The VN30-Index dropped 38.22 points, or 2.07 per cent.
  • The HNX-Index fell by 9.1 points, or 3.24 per cent.

Sources:

  • "Stock market experiences significant decline on Monday." The Saigon Times, May [insert date], 2023.

*Note: The date of the publication was not provided in the original text.*