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Banking & Finance

April 11: VN-Index tumbles 3%

Released at: 17:03, 11/04/2018 Stock Market Watch

April 11: VN-Index tumbles 3%

Losses at end of trade see VN-Index close at lowest level since February 6.

by Hai Van

Pressure from massive selling at the end of the day on April 11 saw bottom feeders given little time to take advantage. The VN-Index lost nearly 3 per cent after closing at its lowest level of the day and since February 6. Liquidity was down, feeding into existing negativity.

The VN-Index lost 31.01 points (2.59 per cent) and finished at 1,167.11 points, with 77 shares increasing and 219 falling. Total trading volume was 286 million shares worth VND9.323 trillion ($409.04 million).

Some correction in liquidity was expected after two days of higher trade. The market only dipped towards the end of the day, with experts forecasting there may be more of the same tomorrow.

Most stocks lost ground. All eight banking stocks on HSX fell sharply: VCB by 4.43 per cent on 3.9 million units matched, BID 2.2 per cent on 2.38 million units matched, CTG 4.29 per cent on 9.28 million units matched, VPB 3.22 per cent on 4.71 million shares traded, MBB 3.69 per cent on 9.9 million shares traded, HDB 0.99 per cent on 5.63 million units matched, and STB 3.4 per cent on 16.59 million units matched.

In real estate and construction, VIC fell 3.82 per cent to VND126,000 ($5.50) on 3.22 million shares traded, VNRE 3.77 per cent to VND51,000 ($2.25) on 2.47 million shares, ROS 6.94 per cent to VND23,100 ($1), and DXG 4.9 per cent to VND36,700 ($1.60).

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