An investor frustrated by declining stocks at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam’s benchmark VN-Index fell 1.19% to 1,254.59 points Friday in its worst session since early last August.
The index closed 15.12 points lower after gaining 2.93 points in the previous session.
Trading on the Ho Chi Minh Stock Exchange increased by 28% to VND13.749 trillion (US$540.6 million).
The VN-30 basket, comprising the 30 largest capped stocks, saw 24 tickers fell.
BVH of insurance company Bao Viet Holdings saw the biggest drop of 3.4%, followed by MWG of electronics retail chain Mobile World with a 3.3% decline and TCB of private lender Techcombank, down 3.1%.
Three blue chips gained, namely PLX of fuel distributor Petrolimex with a 0.8% increase, SSB of SeABank, up 0.3%, and VCB of state-owned lender Vietcombank, which closed 0.1% higher.
Foreign investors were net seller to the tune of VND734 billion, mainly selling FPT of IT giant FPT Corporation and TCB.
The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.89%, while the UPCoM-Index for the Unlisted Public Companies Market went down 0.77%.
Globally, Chinese blue chips suffered their biggest weekly fall since 2022 on Friday, Reuters reported. The country’s blue chip index shed 5.2% this week.
European stocks were down 0.3% on Friday, reversing gains from the previous day, though oil and gas shares gained.
Friday’s fall in European stocks was in part a catch-up with a late decline on Thursday in the U.S., where benchmarks ended broadly lower. S&P and Nasdaq futures were both up around 0.4% on Friday however.
Despite political turmoil in South Korea, shares there rose after five sessions of declines, as the country’s finance minister, who was last month appointed acting president, said he remained committed to stabilizing the country’s financial markets.
