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Blue chips plunge - VN-Index falls
An accelerated blue chip sell-off caused the HCM City Stock Exchange VN-Index to drop by 1.5 per cent, closing at 479.29 points.
The market saw nearly 22 million shares change hands, generating 534.3 billion VND (US$25.1 million).
Six out of the 10 largest capitalised stocks plummeted. Insurer Bao Viet Holdings (BVH) stocks fell the most by 4.8 per cent to 88,500 VND and food trader Masan Group (MSN) sawstocks falling by 4.7 per cent to 123,000 VND.
Recent VN-Index rallies were attributed to the substantial gains made by MSN and BVH and their strong accumulation of foreign investors.
The 10 largest capitalised stocks, including steel producer Hoa Phat Group (HAG) and Eximbank (EIB), managed to gain while software producer FPT Corp (FPT) and PetroVietnam Finance (PVF) closed unchanged.
Saigon Securities Inc (SSI) claimed the highest trading volume of 1 million shares, the only stock trader to trade more than 1 million shares.
The Ha Noi Market HNX-Index closed at 1.31 per cent to 82.1 points.
Trading volume rose by 16.4 per cent to 22.9 million shares valued at 288 billion VND ($13.7 million). Kim Long Securities (KLS) topped the trading market with 1.6 million shares traded.
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