VN-Index plunges to lowest level in two months

This represented a drop of 9.8 points, or 1.09 percent, on Vietnam’s benchmark VN-Index, the index for companies listed on the Ho Chi Minh Stock Exchange (HOSE), worth 90 percent of market capitalization across all of the country’s exchanges.

This session’s total trading volume reached 160 million shares worth VND3.23 trillion ($138.6 million), with 74 gainers and 214 losers.

The HNX-Index, which represents relatively smaller-cap companies listed on the Hanoi Stock Exchange (HNX), also fell by 0.84 percent, with 71 gainers and 80 losers.

The market continued to sink for the fourth consecutive session, with blue-chip stocks being the biggest drag. On the VN30-Index, the 30 biggest cap stocks on the market, only 6 stocks closed up and 22 closed down.

The biggest drop was seen for SAB shares of Vietnam’s biggest brewer Sabeco, down 6.8 percent.

Despite pessimism from domestic shareholders, foreign investors continued to be net buyers, with total net buying amounting to VND172 billion ($7.4 million).