Tuesday, February 25, 2020 10:11:32 AM - Markets open
VN-INDEX 899.37 -3.97/-0.44%
HNX-INDEX 104.12 -0.05/-0.05%
UPCOM-INDEX 55.14 -0.09/-0.16%
VN-Index floats above 1,000 points for seventh session despite losses
Vietnam News - 3/21/2019 9:24:57 AM
 (0 ratings. You must sign in to rate.)
HÀ NỘI — The VN-Index managed to keep its head above the 1,000-point level on Wednesday despite selling pressure that pushed it below the benchmark during trading.
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange lost 0.43 per cent to close at  1,002.30 points, successfully maintained the 1,000-point level for the seventh consecutive session.
The southern market index lost 0.52 per cent to close Tuesday at 1,006.59 points.
More than 300 million shares were exchanged on the southern bourse, worth VNĐ8 trillion (US$343.7 million).
The blue-chip VN30 Index was down 0.37 per cent to 924.12 points.
Twenty of the 30 largest stocks by market capitalisation ended in negative territory while nine increased.
The downward pressure on the overall market remained high. Blue-chip stocks like Vincom Retail (VRE), Masan Group (MSN), Vinhomes (VHM), PetroVietnam Drilling & Well Services Corporation (PVD), Bank for Investment and Development (BID) and PetroVietnam Gas JSC (GAS) fell sharply.
Although the market suffered from selling pressure on Wednesday, large-cap stocks such as steelmakers Hòa Phát Group (HPG) and Hoa Sen Group (HSG), Military Bank (MBB) and dairy firm Vinamilk (VNM) gained at the end of the session and helped narrow the decline of the general market.
HPG rose 1.3 per cent to close at VNĐ32,200 and matched more than 5.6 million shares.
The electricity industry also performed well following the news that the average retail price of power had officially increased by 8.36 per cent from VNĐ1,720.65 to VNĐ1,864.44 per kWh. Both Phả Lại Thermal Power Joint Stock Company (PPC) and Bà Rịa Thermal Power Joint Stock Company (BTP) both hit their ceiling prices.
Other power suppliers also soared, including Power Generation Joint Stock Corporation 3 (PGV), up 4.2 per cent; Sông Ba Joint Stock Company (SBA), up 3.4 per cent; and PetroVietnam Power Nhơn Trạch 2 JSC (NT2), up 3.3 per cent.
Cautious sentiment dominated the market with information from the US Federal Reserve to discuss the US economic situation as well as the roadmap for upcoming interest rate increases awaited.
On the Hà Nội Stock Exchange, the HNX-Index lost 0.40 per cent to end at 109.62 points.
The northern market index lost 0.74 per cent to end Tuesday at 110.06 points.
More than 49 million shares were traded on the northern bourse, worth VNĐ747 billion.
The market’s short-term uptrend was possibly heading towards the 1,020-1,025 zone with a wide divergence among stock groups, BVSC forecast.
“Bank, oil and gas and real estate will be attractive to capital flows. Stock exposure should be limited to 50 per cent of portfolios,” the company said. — VNS
Read original article here
Newer News
20/02 Investment funds make more stock purchase despite decling prices
20/02 VN-Index steadies amid scepticism
18/02 VN stocks slide on market caution, gloomy forecasts
17/02 Trading remains quiet amid risk concerns
13/02 Shares move up but growth narrowed at the end of trading
11/02 Rising virus death toll weighs on market
10/02 VN stocks struggle to find growth momentum amid disease, expected lower earnings
06/02 VN shares mixed, but growth expected to return
05/02 VN stocks bounce but risks still exist
03/02 VN stocks to keep falling on disease fears
Older News
18/03 VN stocks to keep rising this week
14/03 Financial stocks lift market for a second day
13/03 Bank stocks boost VN markets
12/03 VN stocks stay stable after ETF reviews
09/03 More foreign investors join Vietnam’s securities market
07/03 Shares gain ground as cash flow rises
06/03 Derivatives market trading liquidity signals stabilisation
06/03 Foreign investors piling on Vietnamese stocks
05/03 VN stocks to progress on annual meetings season
04/03 VN stocks to progress on annual meetings season
Newsletter Signup
Top Stories
VN shares mixed, but growth expected to return
VN stocks to keep falling on disease fears
Industry 4.0 brings big changes for stock market
Reference exchange rate up 1 VND on January 17
Reference exchange rate up 1 VND on January 15
Market Update
Last updated at 10:15:01 AM
VN-INDEX 899.37 -3.97/-0.44%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.