Tuesday, November 12, 2019 9:50:12 AM - Markets open
VN-INDEX 1,019.77 +3.02/+0.30%
HNX-INDEX 106.77 +0.00/+0.00%
UPCOM-INDEX 56.65 -0.07/-0.12%
VN stocks fall on disappointing Q1 earnings
Vietnam News - 4/23/2019 1:02:41 PM
 (0 ratings. You must sign in to rate.)
Vietnamese shares pared early losses on Monday as oil and gas stocks moved higher to buoyed investor confidence from disappointing Q1 corporate earnings.
 
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange inched down 0.04 per cent to close at 965.86 points.
 
The VN-Index was down as much as 0.71 per cent during the day. It fell total 1.69 per cent last week.
 
More than 216.3 million shares were traded on the southern bourse, worth VNĐ4 trillion (US$172.7 million).
 
The market was weighed down by financials, banks, food and beverage producers, tech firms and seafood processors.
 
The industry indices of those companies were down between 0.7 per cent and 2.4 per cent, data on vietstock.vn showed.
 
Securities sector index was the worst-performing, falling 2.4 per cent.
 
Among brokerage firms, HCM City Securities Corp (HCM) slumped 5.1 per cent after the company last weekend announced its Q1 post-tax profit dropped 75 per cent year on year to VNĐ82 billion.
 
SSI Securities Inc (SSI) and VNDirect Securities Corp (VND) also reported lower profits in the first quarter of the year. Their shares dropped 3.1 per cent and 2.8 per cent, respectively.
 
Securities firms had forecast their performances in the first three months of 2019 would be worse than a year ago as the market was short of supportive information and no large-cap State-owned enterprises sold shares in their IPOs.
 
The stock market was also weighed down by large-cap companies in the VN30-Index.
 
The blue-chip VN30-Index lost 0.26 per cent to end at 878.23 points with 16 of the 30 largest stocks by market capitalisation falling.
 
Oil and gas stocks advanced to offset a part of the market decline.
 
PetroVietnam Gas (GAS) was up 2.3 per cent, PetroVietnam Drilling and Well Services increased by 1.6 per cent, and PetroVietnam Power (POW) was up 1.1 per cent.
 
The growth of petroleum stocks was attributed to strong gains of oil prices. Brent crude advanced 2.3 per cent to trade at $73.60 a barrel on Monday.
 
According to MB Securities Corp (MBS), trading liquidity remained lower than the average level of the last 15 trading days and it indicated investors were still cautious and waiting for the signals of the market recovery.
 
Some leading sectors such as banking and consumer staple had broken their three and four-week bottoms. If those stocks continued running down, they would become heavy hitters for the market since those stocks were heavyweights for the VN-Index, MBS said.
 
On the Hà Nội Stock Exchange, the HNX-Index was down 0.23 per cent to end at 105.63 points.
 
The HNX-Index was down total 1.70 per cent last week.
 
More than 31.7 million shares were traded on the northern bourse, worth VNĐ372.5 billion. — VNS
 
 
Read more at here.
 
Newer News
11/11 VN-Index to move flat, large-cap stocks to weaken
10/11 85% of businesses listed on stock market report profit growth in Q3
09/11 VN-Index slides for second day
09/11 85% of businesses listed on stock market report profit growth in Q3
08/11 VN-Index steps down from 4-day rally
07/11 Stock market inches up, investors begin earning profits
02/11 Shares surge, VN-index hits one-year peak
01/11 Profit-taking send stocks down
30/10 VN-Index recovers as large-caps gain ground
29/10 VN-Index fails to hit 1,000 points as selling increases
Older News
17/04 "Vin" stocks drag on markets
16/04 Pessimism may drag VN stocks further this week
09/04 VN stocks progress ahead of reports
09/04 VN-Index nears 1,000-point mark on April 8
08/04 Few stock-focused funds beat VN-Index in Q1
08/04 HoSE to help foreign investors
05/04 VN stocks change little on lack of purchasing power
04/04 Vietnam remains in FTSE Russel’s watchlist for reclassification
04/04 Oil stocks narrow market's decline
03/04 Market drops despite global rally
 
Newsletter Signup
Top Stories
VN-Index slides for second day
Reference exchange rate reverses downward trend on October 23
Prices of Grade A office space rise due to low supply
VN stocks to beat 1,000 points in Q4
Consumer price index to be controlled at low level of 3.3-3.5% in 2019
Market Update
Last updated at 9:50:00 AM
VN-INDEX 1,019.77 +3.02/+0.30%
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.