The benchmark VN Index of the Ho Chi Minh Stock Exchange (HOSE) lost 27.73 points, or 2.47%, to settle at 1,093.48.
Selling was notable at large-cap stocks such as PV Gas (GAS), Hoa Phat Group (HPG), Masan Group (MSN), Petrolimex (PLX), and Vingroup (VIC), and financials including BIDV (BID), VietinBank (CTG), Vietcombank (VCB), MB Bank (MBB), VPBank (VPB), Saigon Securities (SSI), and Ho Chi Minh City Securities (HCM).
The VN30 Index, comprised of the 30 biggest and most liquid on the HOSE, finished down 2.36%.
Volume was heavy with 277.68 million shares worth 9.75 trillion dong ($429 million) changed hands, compared to 210.07 million shares valued at 6.63 trillion dong ($292 million) last Friday.
Selling came from foreign traders as overseas ETFs prepared for their quarterly review while trading teams at local brokerages followed suit, said Le Duc Khanh, deputy head of research at PetroVietnam Securities.
Foreign investors net sold 195.59 billion dong on the HOSE, mainly in HPG, Kinh Bac Holdings KBC and Gemadept (GMD).
Strong selling in the last minutes today was likely caused by VFM VN30 reshuffling its portfolio, Artex Securities said.
Excited sentiment pulled the market index up sharply in the morning. Small and medium-cap stocks, especially in the real estate sector, attracted money. However, the ATC session was unpredictable. The key stocks were sold, leading to drastic losses, said BIDV Securities in a note to clients.
Fears that the market could correct along with global equities have not been eliminated, the brokerage added.
After a sharp fall in late session today, the market is likely to continue correcting, Bao Viet Securities said in a note.
Tin liên quan
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Cùng dòng sự kiện
Từ khóa: VN Index, HOSE, Vingroup, PV Gas, VietinBank, Vietcombank, VCB, VIC, CTG, VPBank