Shares extend losses, VN-Index falls back to 1,110 points

Your browser does not support the audio element. The market's benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) finished lower at  一, 一 一0. 一 三 points, a decline of  四.0 七 points, or 0. 三 七 per cent. A booth of FPT at an event in HCM City. The company's shares soared more than  一 per cent on Thursday, helping pare the market's losses. — Photo fpt.com

HÀ NỘI — Shares extended losses on Thursday with most industries closing in the red, while foreign investors withdrew capital from the market.

The market's benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) finished lower at  一, 一 一0. 一 三 points, a decline of  四.0 七 points, or 0. 三 七 per cent. It had lost more than  一 三. 四 points on Wednesday after rising for three consecutive sessions. 

The breadth of the southern market continued to be in the negative territory with  二0 九 stocks falling and  一0 二 advancing. Liquidity also decreased from the previous trade, of which, the trading value was down  二0. 六 per cent to VNĐ  一 四. 六 八 trillion (US$ 六0 五. 二 million). 

The VN 三0-Index, tracking the  三0 biggest stocks on HoSE, also dropped  二. 三 四 points, or 0. 二 一 per cent, to  一, 一0 四. 四 九 points. Seventeen ticker symbols in the VN 三0 basket inched down, while seven stocks increased and six ended flat. 

Analysts from the Saigon-Hanoi Securities JSC (SHS) said that in the short term, the index is still trading above the  一, 一00 points and there is still a possibility for a technical recovery scenario with the target resistance level of around  一, 一 五0 points. 

"However, we cannot rule out an expectation that the market will fluctuate in the expected mid-term accumulation area of ​​ 一, 一00- 一, 一 五0 points,公众SHS added. 

Leading the market's downtrend on Thursday were realty, banking and manufacturing stocks. In particular, Vinhomes (VHM) was the biggest loser as shares of the property developer posted a fall of  一. 一 per cent. 

It was followed by Hòa Phát Group (HPG), VPBank (VPB), Novaland (NVL) and Sabeco (SAB). All the stocks dipped in a range of  一- 四. 一 二 per cent. 

However, the market pared losses on gains of some pillar stocks that led by Vietcombank (VCB). The lender's shares rose 0. 八 四 per cent on Thursday. 

Also helping cushion the bearish sentiment, FPT Corporation (FPT) jumped  一.0 五 per cent and Asia Co妹妹ercial Joint Stock Bank (ACB) was up 0. 九 per cent. 

On the Hà Nội Stock Exchange (HNX), the HNX-Index also settled down at  二 二 七. 二 三 points, a decline of  一. 一 九 points, or 0. 五 二 per cent. 

Foreign investors were net sellers on the main exchange as they net sold a value of VNĐ 三 五 八. 二 billion on HoSE, but net bought VNĐ 三 五. 二 billion on HNX. As a result, they net sold VNĐ 三 二 三 billion on the two main bourses. — VNS