VN-Index nosedives to under 1,000 points in gloomy atmosphere

A gloomy atmosphere spread across the stock market on May 22 when all groups of stocks fell, forcing VN-Index to tumble to below 1,000 points.

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An investor passes boards showing share prices at Tan Viet Securities Co.

On the Ho Chi Minh Stock Exchange (HOSE), the downward trend on the previous day continued with the selling pressure dominating the market right from the beginning of the trading session.

The benchmark VN-Index fluctuated around 1,000 points in the morning and plunged in the afternoon when a supply pressure appeared in all groups of shares.

Among key stocks, VNM continued to move against the common trend when investors flocked to buy this share, boosting its price to the ceiling level of 118,200 VND per share. Others stocks recorded price declines.

Property, insurance and bank stocks witnessed the strongest decreases of 6.47 percent, 5.74 percent and 4.7 percent, respectively.

The VN-Index lost 29.07 points to 985.91 points at the end of the trading session.

While the HNX-Index on the Hanoi Stock Exchange (HNX) ended at 116.72 points, down 2.94 points, the UpCoM-Index on the Unlisted Public Company Market (UpCoM) fell 1.05 points to 53.73 points.

Source: VietNamNet

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Sen 1992