Tuesday, July 23, 2019 3:50:52 AM - Markets open
VN-INDEX 982.04 -0.30/-0.03%
HNX-INDEX 106.76 -0.31/-0.29%
UPCOM-INDEX 58.01 +0.47/+0.82%
VN stocks fall for a second day
Vietnam News - 5/23/2019 2:17:52 PM
 (0 ratings. You must sign in to rate.)
Vietnamese shares slid Wednesday, giving up early gains as selling pressure strengthened and pulled the market down for short-term profits.
 
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange edged down 0.25 per cent to close at 983.78 points.
 
It gained as much as 0.60 per cent during the trading day.
 
The VN-Index has lost a total of 0.34 per cent in the last two days.
 
Market trading liquidity dropped from Tuesday to nearly 175 million shares in volume and VNĐ3.94 trillion (US$169.5 million) in value.
 
Following the cool down on Tuesday, the VN-Index continued being challenged by the rise of selling pressure.
 
The VN-Index totalled a seven-day rally of 4.23 per cent before losing the last two days.
 
“It’s quite normal for the market to start declining because a number of stocks have reached the expected price levels,” Sài Gòn-Hà Nội Securities (SHS) said in its daily report.
 
Pulling the stock market down were insurance-finance, real estate, technology, petroleum and energy, food and beverage, and construction sectors.
 
Those were also the industries that had helped the market rally for seven consecutive trading days.
 
Meanwhile, shares of banks and brokerage firms gained slower because some of those firms’ stocks lost momentum.
 
Large-cap VN30-Index also succumbed 0.41 per cent to close at 897.66 points with 17 of the 30 largest stocks by market value and liquidity declining.
 
Among decliners in the VN30 basket were property firm Novaland (NVL), Techcombank (TCB), consumer staple firm Masan (MSN), tech giant FPT Corp (FPT) and dairy producer Vinamilk (VNM).
 
“Technical indicators are showing the stock market is still moving in its short-term uptrend and the likes of today decline are opportunities to buy more shares,” SHS said.
 
The important thing is “investors are still optimistic about the market short-run”, SHS added.
 
With strong purchasing power, investors are clearly expecting the Vietnamese stock market will bounce back strongly and head to 1,000 points in the near future, Thành Công Securities Co (TCSC) said.
 
However, lower trading liquidity may deter the market growth and investors should be careful, according to MB Securities JSC (MBS).
 
There are still some factors that could derail the market’s uptrend such as the uncertainty of the US-China trade relation, MBS said in its daily report.
 
Worries about Huawei’s case eased after US president Donald Trump stalled to add Huawei into his blacklist as it could dampen the US and China’s efforts to reach a consensus on bilateral trade.
 
On the Hà Nội Stock Exchange, the HNX-Index inched down 0.15 per cent to end at 106.13 points.
 
The northern market index has dropped total 0.18 per cent in the last two trading days.
 
More than 53.4 million shares were traded on the Hà Nội market, worth VNĐ646 billion.  VNS
 
 
Read original article here
 
Newer News
21/07 VN stocks to struggle amid mixed corporate earnings
19/07 VN stocks fall, mounting sell pressure hits large-caps
16/07 HOSE releases updates for VN30 basket
15/07 Calls for insider traders to be dealt with criminally
12/07 Shares extend rally on credit growth limit relaxation
11/07 Shares advance for second day on foreign buying
10/07 Deutsche Bank's restructuring not expected to harm VN market
09/07 Securities firms warn listed businesses may struggle to meet EVFTA standards
08/07 VN stocks may keep rising, driven by corporate earnings
05/07 Transparency needed for healthier corporate bond market
Older News
21/05 Oil uptrend lifts VN stocks for seventh day
20/05 Market to face difficulties while VN-Index approaching 980 points
17/05 VN-Index rises despite selling pressure
16/05 VN-Index rises for third straight day
14/05 VN-Index ends in green on week’s first trading day
14/05 Hanoi Stock Exchange delists companies
13/05 VN stocks expected to decline, hopes rest on banks
13/05 Securities trading codes issued for more than 350 foreign investors in April
10/05 Derivatives market sees liquidity slump in April
09/05 VN stocks expand losses for 5th day
 
Newsletter Signup
Top Stories
VN has trade surplus of about $1.6 billion in H1
Trade pacts bring opportunities for seafood industry's sustainable growth
Credit institutions warned about P2P lending
CPTPP boosts export opportunities in Japan
Deutsche Bank's restructuring not expected to harm VN market
Market Update
Last updated at 3:10:05 PM
VN-INDEX 982.04 -0.30/-0.03%
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.