More than a hundred stocks "hit the floor" in the trading session VN-Index lost more than 4%

SGGPO 10/26/2023 16:35

Although Vingroup Corporation has officially announced the issuance of international bonds after the Vingroup trio of VHM, VIC and VRE were sold off, at the end of the session, these three stocks were still "on the floor". On the HOSE floor, there were 505 stocks that decreased, of which 123 stocks hit the floor.

Stocks "hit the floor" in the session of October 26

The stock market continued to plummet in the afternoon session of October 26 due to overwhelming selling pressure. Although the VN-Index closed the session narrowing its decline compared to the highest decline of 52 points in the afternoon session, stocks were still scattered on the floor. On the HOSE, there were 123 stocks that hit the floor. Of which, the trio of Vingroup, VHM, VIC and VRE, still hit the floor even though Vingroup Corporation had officially informed investors about the issuance of international bonds.

Vingroup Corporation informed: On the evening of October 25, Vingroup completed the offering of 250 million USD in international bonds. The bonds can be converted into Vinhomes (VHM) shares owned by Vingroup, maturing in 2028. This is the first convertible bond on the international market of a Vietnamese enterprise in 2023 and marks the interest of international investors in Vinhomes in particular and the Vietnamese real estate industry in general.

On the morning of October 26, a number of international investors participating in Vingroup's exchangeable bond issuance transaction sold Vinhomes shares to complete the bond investment transaction. This is a hedging sale between investors with a limited quantity and Vinhomes does not issue new shares so there is no dilution. According to Vingroup, the exchangeable bond investors have also found investors for the majority of the shares they need to sell, so the impact on the market is assessed to be short-term and insignificant.

In addition, a series of other real estate stocks also "hit the floor" such as: NVL, PDR, KBC, VCG, TCH, DXS, CRE, AGG, CII, IJC, QCG, SCR, KHG, NBB...

The group of securities stocks also plummeted with VND, VIX, FTS, CTS, AGR, TVS all falling to the limit. The remaining stocks also fell sharply such as: SSI down 6.82%, VCI down 6.72%, HCM down 6.62%, VDS down 6.48%...

Although there were no stocks hitting the floor, the banking group was still covered in red. Many stocks fell sharply such as: STB down 4.91%, VPB down 3.81%, CTG down 2.24%, VCB down 1.52%, TCB down 4.49%, ACB down 3.65%, MBB down 3.37%...

Not only the real estate and finance groups "plunged", but a series of manufacturing group stocks also "swept the floor" such as: MSN, GVR, DCM, HSG, DBC, NKG, HT1, ANV, PAN, IDI, MSH. The energy group also traded quite negatively with PLX hitting the floor, GAS down 6.09%, POW down 3.57%, PGV down 5.65%...

At the end of the trading session, VN-Index decreased by 46.21 points (4.19%) to 1,055.45 points with 505 stocks decreasing, only 24 stocks increasing and 31 stocks remaining unchanged. At the end of the session on the Hanoi Stock Exchange, HNX-Index also decreased by 12.03 points (5.3%) to 214.98 points with 185 stocks decreasing, 20 stocks increasing and 26 stocks remaining unchanged.

Liquidity exploded with the total transaction value across the market reaching nearly VND27,500 billion, more than double the previous trading session. Of which, the total value on the HOSE floor accounted for nearly VND23,300 billion.

Foreign investors returned to buy stocks in the afternoon session, so the total net selling value on the HOSE floor was nearly 101 billion VND compared to nearly 310 billion VND in the morning session. In particular, the stocks with the strongest net selling were VHM (236.74 billion VND), SSI (121.72 billion VND), VIC (115.51 billion VND)...

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