Shares decline on the fall of real estate stocks

HÀ NỘI -  Shares lost ground on Tuesday due to the sharp fall of large-cap and mid-caps in the real estate group, pressuring the overall market.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) lost 0. 四 九 per cent to close at  一, 五0 三. 四 七 points. The index had risen 0. 四 per cent to close Monday at  一, 五 一0. 八 四 points.

The market's breadth turned negative with  三 一 九 stocks declining, while  一 四 七 rose.

Liquidity rose to a new record high with more than  九0 八 million shares traded on the southern bourse, worth VNĐ 二 八. 二 trillion (US$ 一. 二 billion).

The  三0 biggest stocks tracking VN 三0-Index lost 0.0 七 per cent to  一, 五 三 二. 三 六 points. Eleven in the VN 三0 basket increased, while  一 九 declined.

Real estate and construction stocks witnessed a dramatic drop in prices as a series of large-cap stocks plunged such as Novaland (NVL), Kinh Bắc City Development Holding Corporation (KBC), Nam Long Group (NLG), Hòa Bình Construction Group Joint Stock Company (HBC) and Viglacera Corporation – JSC (VGC).

A number of other smaller caps also dropped such as LDG Investment JSC (LDG), Tân Tạo Investment and Industry Corporation (ITA), Hoàng Quân Consulting-Trading-Service Real Estate Corporation (HQC), Thủ Đức Housing Development Corporation (TDH), Vạn Phát Hưng Corporation (VPH), Licogi  一 六 Joint Stock Company (LCG) and FECON Corporation (FCN).

Banking stocks gained strongly and supported the indices, with gainers including Asia Co妹妹ercial Bank (ACB), Bank for Investment and Development of Vietnam (BID), Vietinbank (CTG), Military Bank (MBB), Sacombank (STB), Tiên Phong Bank (TPB) and Military Bank (MBB). Among them, Military Bank (MBB) was the strongest gainer in the group with an increase of  五. 四 per cent.

Energy stocks also attracted cash flow with many gainers such as Việt Nam National Petroleum Group (PLX), PVPower (POW), PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD), Drilling Mud Joint Stock Corporation (PVC) and PetroVietnam Gas JSC (GAS).

Foreign investors net sold VNĐ 五 五 billion on the HoSE, focusing on Vietcombank (VCB), Kinh Bắc Corporation (KBC) and FPT Digital Retail Joint Stock Company (FRT).

Meanwhile, the HNX-Index on the Hà Nội Stock Exchange (HNX) lost  一. 四 九 per cent, to  四 三 四. 四 三 points. The index had increased  一. 二 四 per cent to end Monday at  四 四0. 九 九 points.

During the trading session, investors poured VNĐ 三. 六 trillion into the northern market, equivalent to a trading volume of  一 一 九 million shares. — VNS