On October 26, the stock market suddenly plummeted right from the opening of trading. A series of stocks were suddenly sold off with many codes falling to the floor price. The electronic price board was submerged in red, causing the VN-Index to "evaporate" more than 49 points at one point. The decline of many stocks then slowed down, but the price board was still covered in red. At the end of the session, the VN-Index lost 46.21 points, equivalent to a decrease of 4.19% to 1,055.45 points. On the Hanoi Stock Exchange, the HNX-Index decreased by 12.03 points, equivalent to 5.3% to 214.98 points, and the UPCoM-Index dropped by 3.25% to 82.79 points.
Hundreds of stocks were suddenly sold off on the morning of October 26.
On the HOSE floor alone, a total of 505 stocks closed the session with a decrease in price, of which 123 stocks fell to the floor price. Notably, all 30 blue-chip stocks on the HOSE fell sharply with many stocks hitting the floor such as GVR, MSN, PLX, VHM, VIC, VRE... No stock could survive, so it is understandable that the VN30 index dropped sharply by nearly 50 points.
Similarly, real estate stocks were also sold more than bought and many large stocks fell straight to the floor price or close to the floor despite the high business results in the third quarter of 2023. Or the group of securities stocks also hit the floor or near the floor including SSI, VDS, VND, APS, VCI, HCM, VIG, VIX, FTS... despite the strong increase in the business results in the third quarter of 2023 of many companies.
Without exception, banking stocks also traded below reference prices, from blue-chips such as VCB, ACB, CTG, BID, HDB, SHB to smaller stocks including OCB, SGB, NVB, PGB, NVB...
However, when many investors were afraid of selling off, the bottom-fishing cash flow also actively participated. A total of more than VND27,556 billion was traded, equivalent to more than USD1.1 billion. The trading value this session was more than double that of yesterday and also at the highest level in the past month.
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