Tuesday, June 25, 2019 4:23:06 PM - Markets open
VN-INDEX 960.13 -2.72/-0.28%
HNX-INDEX 104.15 -0.63/-0.60%
UPCOM-INDEX 55.20 +0.05/+0.09%
Stocks fall, dragged down by blue chips
Vietnam News - 3/22/2019 9:20:33 AM
 (0 ratings. You must sign in to rate.)
HÀ NỘI — Vietnamese shares declined for a third session on Thursday as the market reversed quickly at the end of the trading session, dragged down by blue chips in the banking and energy sectors.
 
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange lost 2.05 per cent to close at 981.78 points, finally falling below the 1,000-point level maintained during the last seven sessions.
 
More than 200 million shares were exchanged on the southern bourse, worth VNĐ4.3 trillion (US$184 million).
 
The southern market index lost 0.43 per cent to close Wednesday at 1,002.30 points.
 
Large-cap companies performed poorly with the blue-chip VN30 Index declined 1.76 per cent to 907.87 points on Thursday.
 
Twenty-six of the 30 largest stocks by market capitalisation ended in negative territory while only three increased. The remaining one was flat.
 
Among the worst decliners in the VN30 basket included real estate developer Vinhomes (VHM), Vingroup (VIC), Vincom Retail (VRE), budget carrier Vietjet Air (VJC), jewellery producer Phú Nhuận (PNJ), Mobile World Group (MWG), insurer Bảo Việt Holdings (BVH) and IT giant FPT (FPT).
 
Media conglomerate Yeah1 Group (YEG) rebounded on Thursday after 12 consecutive losing sessions thanks to bottom purchasing power in the morning.
 
YEG hit the daily limit rise of 7 per cent to trade at VNĐ102,300 per share with trading volume of more than 830,000 shares.
 
Banking and energy stocks also underperformed.
 
Booming stocks in the banking sector, such as Vietcombank (VCB), Vietinbank (CTG), Bank for Investment and Development of Việt Nam (BID), Việt Nam Prosperity Joint Stock Commercial Bank (VPB) and Military Commercial Joint Stock Bank (MBB), were down between 0.2 and 3.9 per cent.
 
The energy sector was driven down by PetroVietnam Gas Joint Stock Corporation (GAS), PetroVietnam Technical Services Corporation (PVS) and PetroVietnam Drilling Mud Joint Stock Corporation (PVD).
 
GAS dropped 3.1 per cent. PLX lost 3.6 per cent. Notably, PVD hit the daily limit decline of 7 per cent.
 
On a sector basis, 18 of the 20 sectors saw share prices drop, including real estate, securities, technology, banking, petroleum, food and beverages and seafood processing.
 
The 16 industry indices were down between 0.72 and 4.77 per cent, data on vietstock.vn showed.
 
According to BIDV Securities Company (BID), the Vietnamese market has a strong correction on Thursday amid the news that FED lowered the prospect of GDP growth, inflation along with the higher unemployment rate of the US economy and President Trump maintained that he will not change the level of taxation on Chinese goods.
 
On the Hà Nội Stock Exchange, the HNX-Index lost 1.65 per cent to end Thursday at 107.81 points.
 
Nearly 42.8 million shares were traded on the northern bourse, worth VNĐ598 billion.
 
The northern market index lost 0.40 per cent to end Wednesday at 109.62 points.
 
According to Bảo Việt Securities Company (BVSC), the market is entering a wide fluctuation with uncertain trends. Stock exposure, therefore, should be limited at 30-40 per cent of the portfolio.
 
Investors with a high proportion of stocks in the portfolio may consider reducing the exposure in the recovery sessions. On the other hand, investors with high cash proportion may consider buying back, prioritising portfolio’s existing positions in the support zone, BVSC said. — VNS
 
 
Read original article here
 
Newer News
13:14 Shares move little on low liquidity
24/06 VN stocks predicted to progress slowly ahead of China-US talks at G20 summit
21/06 Japanese helps VN to improve equity market transparency
21/06 Fed future plan on rate cuts lift VN stocks
20/06 VN stocks saved by hopes for trade war truce
19/06 Local stocks quiet ahead of key events
18/06 Funds lose against VN-Index as trade war escalates
17/06 Vietnamese securities catch the eye of South Korean investors R
15/06 VN-Index recovers after three-day decline
14/06 Shares fall for third day of trading
Older News
21/03 VN-Index floats above 1,000 points for seventh session despite losses
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
 
Newsletter Signup
Top Stories
Fed future plan on rate cuts lift VN stocks
Reference exchange rate up by 5 VND on June 18
Government to crack down on trade fraud
Reference exchange rate adjusted up by 8 VND on June 6
VAMC to reclaim US$2.13 billion in bad debts
Market Update
Last updated at 3:09:44 PM
VN-INDEX 960.13 -2.72/-0.28%
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...
Portfolio
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.