Selling pressure drives market down

Shares plummeted on July 3 as strong selling pressure pushed the benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) and the HNX-Index on the Hanoi Exchange (HNX) to hit rock bottom in 2018.

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Shares plummeted on July 3 as strong selling pressure pushed the benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) and the HNX-Index on the Hanoi Exchange (HNX) to hit rock bottom in 2018. Regarding the large-cap VN30 group, only Thanh Cong-Bien Hoa JSC’s shares (ticker: SBT) remained in the green with an increase of 250 VND to 14,700 VND per share. Other shares fell dramatically such as Coteccon Construction JSC (ticker: CTD) decreasing 6,000 VND to 142,000 VND per share, PetroVietnam (ticker: GAS) declining 5,400 VND to 83,000 VND, and Mobile World Group (ticker: MWG) falling 6,900 VND to 100,100 VND per share. Red margins also dominated property stocks. Among those were Phat Dat Real Estate Development JSC (PRD), Hoa Binh Construction Group JSC (HBC), and Vingroup (VIC) and its affiliate Vinhomes (VHM).