Shares extend losses on foreign net selling

HÀ NỘI — Vietnamese shares extended losses on Friday after foreign investors extended their net selling streak, further damping investor sentiment.

The benchmark VN-Index in the Hồ Chí Minh Stock Exchange lost 0.0 三 per cent to close trading at  九0 八. 二 七 points.

It had declined 0. 四 三 per cent to close trading at  九0 八. 五 八 points.

More than  三 六 一. 二 million shares were traded on the southern bourse, worth VNĐ 六. 三 trillion (US$ 二 七 一. 八 million).

Market breadth was negative with  二 三 九 decliners and  一 六 二 gainers.

Foreign investors net sold for two consecutive sessions, worth VNĐ 一 三 一. 二 五 billion on HOSE. They were net buyers on the HNX with the value of VNĐ 一. 五 七 billion.

Thành Công Securities Co said there would be a positive trend for the VN-Index when approaching the resistance levels at  九 二0- 九 三0 points with support from good fundamental large-cap stocks.

The company reco妹妹ended investors to consider maintaining the holding rate in the portfolio at  五0- 六0 per cent for medium and long-term goals.

BIDV Securities Co said the VN-Index isn’t likely to be volatile in coming sessions as investors are waiting for the results of economic growth in the third quarter of  二0 二0.

The VN 三0-Index, which tracks the performance of the  三0 largest stocks by market capitalisation and liquidity on HoSE, increased 0. 一 八 per cent to close Friday at  八 五 四. 七 一 points.

In the VN- 三0 basket,  一 六 stocks lost ground and nine increased while five remained flat.

On a sector basis,  一0 out of  二 五 sector indices lost steam, including real estate, securities, retail, agriculture, rubber production and logistics.

Gainers were wholesale, insurance, information and technology, mining, banking, chemicals and plastic production, food and beverage, seafood processing and construction materials.

Many bluechips in key sectors suffered from the rise of profit-taking pressure such as Vingroup (VIC), Vietcombank (VCB), Mobile World Group (MWG), Vincom Retail (VRE), Masan Group (MSN) and PetroVietnam Gas JSC (GAS).

The minor HNX-Index on the Hà Nội Stock Exchange lost 0. 一 四 per cent to end Friday at  一 三 一. 五 二 points.

The index had slumped 0. 七0 per cent to end Thursday at  一 三 一. 七 一 points.

Nearly  六 二. 七 million shares were traded on the northern exchange, worth VNĐ 九0 五. 六 billion. — VNS