Shares of Vingroup Group (stock code: VIC) traded below their reference price throughout the day, hitting the floor price of 148,800 dong by mid-afternoon. Intense selling pressure led VIC to close with no buyers, and nearly 1.3 million units were offered at the floor price.
This marked VIC's deepest single-day decline in the past half year. The stock last hit its lower limit on 9/6/2024, when its market price was around 90,000 dong (pre-adjustment).
Other stocks linked to Vingroup Group also performed poorly. VPL hit its lower limit, while VHM and VRE dropped 3.7% and 6.3% respectively from their reference prices.
After several sessions as a market pillar, the Vingroup group today became the primary driver behind the VN-Index's sharp decline. The benchmark index for the Ho Chi Minh City Stock Exchange lost over 28 points from its reference level, closing near 1,719 points, marking its steepest one-day fall in the past month. VIC alone accounted for nearly 11 points of this drop.
On the Ho Chi Minh City Stock Exchange, 188 stocks closed below their reference prices, significantly outnumbering the 120 gainers. However, within the large-cap basket, the number of advancing stocks surpassed decliners, with 14 gainers and 12 losers.
Pillar stock groups experienced strong divergence. In the banking sector, for instance, SHB, TCB, and EIB closed in the red, with declines around 0.5%. Conversely, MBB and HDB provided crucial support, rising about 2% and helping the market avoid a deeper correction. Several other large-cap bank stocks, including VPB, CTG, and VCB, also closed positively.
In the securities sector, leading stocks bucked the market trend. SSI rose 1.7% to 29,250 dong, while TCX, HCM, and VCI fluctuated within 1% of their reference prices.
Real estate stocks, influenced by the Vingroup group, broadly closed below their reference prices. KDH, PDR, DIG, and NLG all declined by over 1%. QCG stood out as an exception, hitting its upper limit at 15,400 dong with excess buy orders totaling 2.3 million units.
Investors demonstrated heightened caution as the market underwent two consecutive sessions of correction. Today's trading value was less than 20,000 billion dong, the lowest in approximately three weeks. VIC and VHM topped the liquidity rankings, recording 996 billion dong and 812 billion dong in trading value, respectively.
Foreign investors continued their net selling streak. They disbursed 1,860 billion dong while withdrawing over 2,220 billion dong. STB and VIC experienced the strongest selling pressure from foreign investors, whose capital flows shifted towards select banking and steel stocks.
Phuong Dong
