Chu Công giải mộng

Shares lose steam as selling pressure increases

HÀ NỘI — The VN-Index failed to stay at the  一,000 point mark again as selling pressure increased sharply as the benchmark approaching the landmark.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange lost 0. 八 四 per cent to close Wednesday at  九 九 一. 一 九 points.

Nearly  一 七 九 million shares were traded on the southern bourse, worth VNĐ 四. 二 四 trillion (US$ 一 八 三. 二 million).

The VN-Index rose 0. 三 per cent to close at  九 九 九. 五 九 points on Tuesday.

This is the second time in the last three sessions the VN-Index has surpassed  一,000 points but failed to maintain the momentum till the end of trading.

According to Sài Gòn-Hà Nội Securities Co (SHS), this movement may affect investors' expectations.

Strong fluctuations on Wednesday were attributed to negative movements of global stocks.

The S P  五00 and Dow suffered the worst crises in more than a month on Tuesday after data showed factory activity in the US dropped to its weakest level in more than a decade, raising concerns that a trade war between the US and China is hampering the world's largest economy.

The Dow Jones decreased by  三 四 三. 七 九 points, equivalent to  一. 二 八 per cent, to  二 六, 五 七 三.0 四 points. The S P  五00 lost  三 六. 四 九 points, equivalent to  一. 二 三 per cent, to  二, 九 四0. 二 五 points. This is the sharpest decline for the two indices since August  二 三, when President Donald Trump asked US companies to find alternatives to doing business with China. Nasdaq fell  九0. 六 五 points, or  一. 一 三 per cent, to  七, 九0 八. 六 九 points.

Large-caps were strongly hit, including  Vingroup (VIC) (- 一. 六 per cent), Vietcombank (VCB) (- 一. 七 per cent), PetroVietnam Gas JSC (GAS) (- 二. 五 per cent), Masan Group (MSN) (-  二. 三 per cent), Vinamilk (VNM) (-0. 八 per cent), Vincom Retail (VRE) (- 二. 一 per cent), Vietinbank (CTG) (- 一. 四 per cent) and Vinhomes (VHM) (-0. 二 per cent).

On a sector basis, wholesale, retail, insurance, real estate, energy, banking, information and technology, agriculture, food and beverage, seafood processing, construction materials and logistics were among the losers on Wednesday.

On the Hà Nội Stock Exchange, the HNX-Index was down 0. 五 五 per cent to end at  一0 五. 二 七 points.

More than  二 二. 三 million shares were traded on the northern market, worth VNĐ 三 一 二 billion.

The northern market index was up 0. 七 六 per cent to end at  一0 五. 八 五 points on Tuesday.

Foreign investors offloaded VNĐ 三 四 五. 七 四 billion on the HOSE, including Phát Đạt Real Estate Development JSC (PDR) (VNĐ 八 九.0 四 billion), Vinamilk (VNM) (VNĐ 六 一. 五0 billion) and Vingroup (VIC) (VNĐ 四 一. 九 九 billion). They were also net sellers on the HNX with a value of VNĐ 五. 五 billion. — VNS