Vietnam's Stock Exchange Experiences a Decline

After three consecutive sessions of gains, the index closed 1.77 points lower, following a previous session where it had gained 3.70 points. Trading on the Ho Chi Minh Stock Exchange saw a 14% decrease, amounting to VND14.45 trillion (US$570 million).

Within the VN-30 basket, which comprises the 30 largest capitalized stocks, 17 tickers experienced a decline. Notable drops included VIC of Vingroup, which fell 1.6%, and STB of Sacombank, down 1.5%. Additionally, VHM of Vinhomes declined by 1.2%, and GVR of Vietnam Rubber Group closed 1.1% lower.

Despite the overall decline, eleven blue chips managed to rise, led by HDB of HDBank with a 3.7% increase. BVH of Bao Viet Holdings and FPT of FPT Corporation both saw a 1.7% rise.

Foreign investors were net sellers, offloading VND132 billion, primarily from MWG of Mobile World and KDC of KIDO Group.

Meanwhile, the HNX-Index for stocks on the Hanoi Stock Exchange rose 0.01%, contrasting with the UPCoM-Index for the Unlisted Public Companies Market, which went down 0.18%.

Globally, Chinese stocks surged and commodities found support due to Beijing's new promises of rate cuts and a boost to consumption. However, the Australian dollar slid, and global stocks were shaky ahead of a crucial U.S. inflation reading.