Monday, June 17, 2019 3:31:18 PM - Markets open
VN-INDEX 946.95 -6.66/-0.70%
HNX-INDEX 103.50 +0.04/+0.04%
UPCOM-INDEX 54.97 -0.08/-0.14%
Caution may continue dampening market
Vietnam News - 4/1/2019 1:57:33 PM
 (0 ratings. You must sign in to rate.)
HÀ NỘI — Brokerage firms remain sceptical about market trading this week as investors are running out of supportive information while international stocks continue being weighed down by uncertainties over the global economy.
 
Main events this week include the US-China talks in Washington on April 3 and the release of US economic data on Monday (local time).
 
A recessional warning last week sent global stocks and Vietnamese shares down sharply while the US Federal Reserve pulled back expected rate hikes in 2019 amid signs of a global economic slowdown.
 
Worries about a global recession sent both global and local stocks down sharply early last week. The benchmark VN-Index lost 1.89 per cent (18.64 points) on Monday to break its short-term bottom of 980 points.
 
“Though it managed to re-claim the 980-point level in the following days, that remained a difficult milestone for the benchmark index as investors were clearly cautious,” Sài Gòn-Hà Nội Securities (SHS) said in a report.
 
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) shed total 0.80 per cent on a weekly basis to end last week at 980.76 points.
 
On the northern Hà Nội Stock Exchange (HNX), the HNX-Index finished last week at 107.44 points, losing total 0.60 per cent from the previous one.
 
Caution is predicted to continue driving the market marginally this week as investors are running out of supportive information.
 
“The declining liquidity proves investors are standing on the side-lines to observe the market and they are unwilling to come back in when the market prospect is unclear,” SHS said.
 
Average trading volume on HoSE reached nearly 136.8 million shares in each session, down 24 per cent week on week. The figure for HNX was 29.4 million shares, down 28.3 per cent weekly.
 
Another proof of a caution-based market trade is the discount between VN30-underlying futures contracts and the large-cap VN30-Index, which tracks the performance of the 30 largest stocks by market capitalisation on HoSE.
 
The four VN30-based futures contracts, which will mature in April, May, June and September, are discounted by at least 16 points from the current level of the blue-chip VN30-Index.
 
“Investors are betting on the chance of the market’s further decline at the moment,” SHS added.
 
The momentum for further recovery remains weak as pillar stocks have been unable to extend their growth rates, BIDV Securities Corp (BSC) wrote in its weekly report.
 
Among blue chips that declined last week, property developer Vingroup (VIC) lost total 2.3 per cent, Vincom Retail (VRE) was down 1.1 per cent, while residential real estate firm Vinhomes (VHM) gained only 0.4 per cent and steel producer Hòa Phát (HPG) edged up 0.8 per cent.
 
Capital flow is divided into some specific sectors, which have positive news from annual shareholder meetings and 2019 earnings forecasts, BSC added.
 
“A part of the capital flows in small-cap stocks but the rate of return for those stocks is high” and that proves their gains would “reach the breakeven points when they organise their annual shareholder meetings,” the firm said.
 
According to SHS, the cash flow is quite weak at the moment, therefore, the market trend is unclear and it needs some trading days to settle down. The VN-Index is forecast to move between 965 and 995 points this week. — VNS
 
 
Read original article here
 
Newer News
13:10 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
13/06 Shares ease on low demand
11/06 Share rally narrows in afternoon trade
10/06 VN stocks forecast to move forward
07/06 VN stocks move higher following global good mood
06/06 VN stocks slow gains down on economic worries
05/06 Shares recover on bottom fishing
04/06 Trade war fears darken VN stocks
Older News
31/03 Vietnam stocks slip on last-minute sales
28/03 VN stocks pick up as petro firms boosted by oil price increases
27/03 Vietnam stocks change little as caution high
25/03 Market trend hard to predict after difficult week
22/03 Stocks fall, dragged down by blue chips
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
 
Newsletter Signup
Top Stories
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
HCM City: 46.8 percent of FDI goes to property sector
Vietnam Pepper Association not hopeful of global price recovery
Market Update
Last updated at 3:10:12 PM
VN-INDEX 946.95 -6.66/-0.70%
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.