The Vietnamese stock market lost steam by the end of October 22 due to the rising selling pressure.

The Vietnamese stock market lost steam on October 22 on selling pressure.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) declined 4.85 points, or 0.51 percent, to 953.51 points at the end of the trading day. 

More than 147 million shares were sold at over 3.64 trillion VND (156.5 million USD). There were 110 advancers and 183 decliners. Selling pressure weighed on the stocks of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (VCB), Masan Group Corporation (MSN), Petrolimex (PLX), Vietnam Dairy Products JSC (VNM), Vietjet Aviation JSC (VJC), and Hoa Phat Corporation (HPG).

PLX experienced the strongest decline of 2.6 percent; followed by VJC at 2.3 percent; MSN, 2.2 percent; HPG, 1.6 percent; VCB, 1 percent; and VNM 0.8 percent.

Banking and financial service stocks like HCM, SSI, CTG, SHB, TCB, and STB were among the worst performers on the day.

Meanwhile, the green margin was dominated by Joint Stock Bank for Investment and Development (BID), brewer Sabeco (SAB), Novaland (NVL), and Vincom Retail (VRE), which increased 1.2 percent, 0.9 percent, 1.4 percent, and 1.2 percent, respectively. 

Regarding the Hanoi Stock Exchange, the HNX-Index slipped by 0.55 points to land at 107.55 points. Over 40 million shares were successfully transacted at more than 466 billion VND (20 million USD). 

There were 60 increasing codes and 85 declining codes on the northern bourse.

Foreign players continued net selling on the day. On the HoSE, foreigners sold over 1.4 million shares with 87.61 billion VND (3.76 million USD). On the HNX, foreign investors net bought 2.16 million stocks valued at 42.43 billion VND (1.82 million USD).–VNA