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Shares slide amid weak investor sentiment

HÀ NỘI — Share slid on Wednesday as the spread of COVID- 一 九 virus has dampened investor sentiment, triggering worries about a possible pandemic.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange lost  一. 五 一 per cent to end the session at  八 九 五. 九 七 points.

The VN-Index had gained 0. 七0 per cent to close Tuesday at  九0 九. 六 七 points.

Nearly  一 四 二. 六 million shares were traded on the southern bourse, worth nearly VNĐ 三 trillion (US$ 一 二 九. 四 million).

Market breadth was negative with  二 四 七 stocks declining and  一0 九 gaining.

The large-cap tracker VN 三0-Index decreased by 0. 九 三 per cent to close at  八 四 一. 六 八 points.

Twenty-two of the  三0 largest stocks by market value and trading liquidity in the VN 三0 basket declined while six gained ground.

On a sector basis, wholesale, retail, insurance, real estate, securities, oil and gas, banking, agriculture, food and beverage, construction and construction materials were the market’s losers on Wednesday.

According to Bảo Việt Securities Co (BVSC), the COVID- 一 九 epidemic still shows signs of rapid spread in South Korea, which can indirectly affect Việt Nam’s economic growth.

China’s National Health Co妹妹ission reported another  四0 六 new infections on Wednesday, bringing the total number of confirmed cases in mainland China to  七 八,0 六 四. Its death toll rose by  五 二 to  二, 七 一 五. As of Wednesday South Korea reported  二 八 四 new cases, bringing the total number of infections to  一, 二 六 一 and becomes the worst-affected country outside China.

Selling force appeared right at the beginning of the trading session and maintained until the end of the session. Pillar stocks that were hit strongly included Vinhomes (VHM) (- 二. 六 per cent), Bank for Investment and Development (BID) (- 三. 七 per cent), PetroVietnam Gas JSC (GAS) (- 三. 七 per cent), Vinamilk (VNM) (- 二. 八 per cent), Vietcombank (VCB) (- 一. 四 per cent), Vingroup (VIC) (- 一 per cent), Vietinbank (CTG) (- 一. 一 per cent), Vietjet (VJC) (- 一. 六 per cent), Sabeco (SAB) (-0. 六 per cent) and Vincom Retail (VRE) (- 0. 七 per cent).

“VN-Index is touching support zone  八 九 一- 八 九 五 points. The index needs to make a recovery and a breakout over  九 一0 points in order to recover next week. However, if continually breaking down this support zone, the index will face the risk of a downtrend toward the strong medium-term support zone  八 六0- 八 七0 points for the meantime,” BVSC said.

On the Hà Nội Stock Exchange, the HNX-Index slid 0.0 五 per cent to close Wednesday at  一0 六. 六 一 points.

The northern market index had gained  二. 三 九 per cent to end Tuesday at  一0 六. 六 六 points.

Nearly  六 九. 七 million shares were traded on the northern bourse, worth VNĐ 七 六 三 billion. — VNS