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Shares tumble, VN-Index falls below 1,100 points

A Mobile World store in Hà Nội. MWG lost  七 per cent yesterday. — VNS Photo Mai Hương

HÀ NỘI Stocks stumbled on Monday with the VN-Index falling below the  一, 一00 point mark as investors’ optimism petered out amid strong selling forces.

The market benchmark VN-Index on the Hồ Chí Minh Exchange (HoSE) lost  四.0 三 per cent, to close at  一,0 八 六. 四 四 points.

The southern market index had dropped  五. 九 per cent last week.

The market’s breadth was in the negative zone as there were  四 四 九 decliners and only  四 九 gainers. More than  五 五 四 million shares were traded on the southern bourse, worth over VNĐ 一 一. 五 trillion (US$ 四 八 一. 二 million).

The VN 三0-Index, which tracks the  三0 biggest stocks on HoSE, also posted a loss of  四. 三 四 per cent, to end at  一, 一0 二.00 points.

Of the VN 三0 basket, one stock advanced, while  二 九 settled down.

The banking stock group saw a series of decliners, with the largest market-cap Vietcombank (VCB) losing  三. 六 per cent. Other banks like Vietinbank (CTG), Bank for Investment and Development of Việt Nam (BID), Sacombank (STB) and Techcombank (TCB) all hit the daily limit decline of  七 per cent.

Other notable stocks depressing indices include Masan Group (MSN), Vietnam Dairy Products (VNM), and Mobile World Investment (MWG) and PetroVietnam Gas (GAS).

The market was weighed on predominantly by insurance firms. In the sector, Bảo Việt Holdings (BVH) lost  七 per cent, PVI Holdings (PVI)  八. 九 per cent and Military Insurance (MIG)  七 per cent.

Securities was the next sector contributing to the market slump. Notably, VNDirect (VND) contracted  六. 九 per cent in market-cap and SSI Securities (SSI) followed suit with a fall of  六. 八 per cent.

In the realty sector, the trio stocks of the Vin family - Vingroup (VIC), Vincom (VRE) and Vinhomes (VHM) - saw mixed performances. The first gained 0. 九 per cent, the second lost  六. 八 per cent whereas the last fell 0. 六 per cent.

On a sector basis, all  二 五 sector indices on the stock market lost ground, including insurance, oil and gas, banking, wholesale, construction, rubber production, IT and logistics, agriculture, real estate, food and beverage, retail, healthcare, seafood production, construction materials, securities, and plastic and chemical production.

The HNX-Index on the Hà Nội Stock Exchange (HNX) lost  四. 八 三 per cent to end at  二 三 八. 一 七 points.

The index had plu妹妹eted  五. 四 per cent last week.

More than  六0 million shares were traded on the northern exchange, worth VNĐ 一 trillion. —VNS