VN-Index unexpectedly drops to a record of nearly 95 points, capitalization drops more than 15.6 billion USD

A series of stocks were suddenly sold off, hitting the floor, pushing the VN-Index down deeply.

On the afternoon of October 20, a series of stocks were suddenly sold off heavily, hitting the floor, causing the stock market to plummet. At the end of the trading session, the VN-Index fell 94.76 points, or 5.47%, to 1,636.43 points. In terms of absolute points, this was the strongest drop of the VN-Index ever. Similarly, the HNX-Index also fell 13.09 points, or 4.74%, to 263.02 points.

A series of stocks suddenly fell to the floor, pushing the VN-Index to a record low on October 20.

PHOTO: TNO

The number of stocks falling dominated the market. On the Ho Chi Minh City Stock Exchange (HOSE) alone, 325 stocks were in red, of which 108 stocks fell to the limit. On the contrary, 34 stocks still went against the trend by maintaining green, with 4 stocks even hitting the ceiling price, including PIT, SVC, TNI, and UIC.

The downward pressure weighed heavily on the market as all industry groups were sold heavily by investors. All 30 blue-chip stocks in the VN30 basket on the HOSE fell sharply, including 13 stocks hitting the floor, such as MSN, HPG, HDB, SSI, TCB, TPB,SHB , STB, VRE... The VN30 index also lost 106.28 points, a decrease of 5.38%. Most industry groups were in red. Of which, the largest number of stocks hitting the floor were real estate, securities, banking, and insurance stocks... led by real estate (-5.6%), securities (-6.7%), banking (-5.8%), energy (-5%), insurance (-4.5%)... On the contrary, the telecommunications services group recorded a rare green color (+3.5%) thanks to the pull of Viettel stocks.

The market was in red but liquidity increased sharply, with more than 1.7 billion shares matched on the HOSE floor with a value of more than VND53,000 billion. Foreign investors continued to net sell nearly VND2,300 billion, focusing on the financial group including CTG, STB, SSI, VND, VCI, SHB. Of which, MSN was the code with the strongest capital withdrawal with VND655 billion, and at the same time dropped to the floor price of VND81,900/share. The HNX floor had more than 190 million shares traded with a value of over VND4,558 billion.

This sharp decline pushed the VN-Index below the 1,700-point threshold, making investors worried even though there was no negative news in the market. The market capitalization of the HOSE floor alone "evaporated" more than VND414,000 billion, equivalent to a decrease of more than USD15.6 billion to about VND7.1 million billion.

Source: https://thanhnien.vn/bat-ngo-vn-index-giam-ky-luc-gan-95-diem-von-hoa-giam-hon-156-ti-usd-18525102014511276.htm