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Banking & Finance

VN-Index takes a tumble

Released at: 15:12, 20/07/2015

VN-Index takes a tumble

Blue-chips also decline in worst day since May.

by Minh Tuyet

The VN-Index lost 9.09 points today, July 20, or 1.45 per cent, its largest fall since May. The Ho Chi Minh City Stock Exchange, (HSX) had 137 stocks in decline and 56 climbing. The Hanoi Stock Exchange (HNX), meanwhile, had 98 stocks falling and 46 rising.

Influencing the situation were key stocks in petroleum, banking and real estate. Though insurance stocks went against the decline last week, in the morning session today they all lost value.

In HSX, stocks in banks and petroleum fell significantly. GAS fell 3.23 per cent, to VND60,000 ($2.74), nearly its lowest level since May. VCB also fell 2.35 per cent, its lowest point in the last 12 sessions.

Sharp declines were also experienced by PVD (1.56 per cent), BID (2.36 per cent), EIB (2.74 per cent), MBB (0.63 per cent) and STB (1.57 per cent). The HSX also saw sharp declines in BVH (3.88 per cent), DPM (2.15 per cent), MSN (1.59 per cent), SSI (1.15 per cent) and VNM (0.85 per cent).

Moreover, 19 of 27 stocks in the VN30 Index fell by more than 1 per cent. Most blue-chips also saw sharp declines. The HNX had 19 of 22 stocks falling over 1.67 per cent.

Stocks were down 1.99 points at one stage this morning, before recovering slightly then falling again.

In the HNX several low-priced stocks saw rises, such as API, NHA, CVT, KSK, HDO and VCS.

Liquidity improved, by 7 per cent compared to Friday, standing at VND1.25 trillion ($57.4 million). Foreign investors bought few stocks today.

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