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Four stocks linked to the Vingroup conglomerate dragged on the VN-Index in the first session of the week, falling between 1% and 6.5%. The Ho Chi Minh City market rose at times, reaching a new intraday high of 1,927 points, but the rally faded in the afternoon as investors sold to take profits.
Vinhomes (VHM) was the top gainer, rising more than 5% earlier in the session. However, the group later reversed from gains to losses. VIC closed at 223,000 dong, down 1.3% versus the reference. VHM and VPL both fell about 2%, while VRE approached the floor price.
All four Vingroup-linked stocks appeared among the most negative contributors to the VN-Index, together taking about 10 points off the index.
As selling pressure from the Vingroup group spread, the Ho Chi Minh City market moved into the red. More than 210 stocks finished the session below the reference price, double the number of advancing stocks.
The VN-Index fell 20 points, ending the session at 1,895 points, breaking a four-session winning streak.
Real estate was the hardest hit sector, with developers outside Vingroup also closing lower. Novaland, Khang Dien, Nam Long, and Quoc Cuong Gia Lai all ended the day down between 0.5% and 3%.
In addition, CII reversed upward to the daily limit at 19,700 dong, with buy orders of over 2.8 million shares.
In oil and gas, GAX and PLX declined by 1.5% and 2%, respectively, while BSR extended its rally to the ceiling at 27,750 dong.
In banking, declines dominated, with more than two-thirds of stocks down. KLB and BID led the fall, down 3.4% and 2.1% from the reference. By contrast, EIB rose about 3% to nearly 23,000 dong.
Despite the index decline, liquidity showed resilience. Turnover on the Ho Chi Minh City exchange exceeded 28 trillion dong, about 3% above the weekly average.
VIX led turnover with more than 2,000 billion dong, followed by VHM, FPT, VIC, and GEX.
Foreign investors extended their selling streak to 13 sessions. They injected about 2.7 trillion dong but withdrew more than 3.7 trillion. TCH, ACB, and HPG were among the top names for foreign net selling.
The session’s direction ran counter to many securities firms’ forecasts, which had expected the uptrend to continue and push the index toward 2,000 points. Some analysts also noted a potential correction, while emphasizing that such a move could offer buying opportunities at more attractive valuations for long-term investors.
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