Friday, September 20, 2019 4:39:13 PM - Markets open
VN-INDEX 990.36 -6.74/-0.68%
HNX-INDEX 104.14 +0.10/+0.10%
UPCOM-INDEX 56.97 +0.27/+0.48%
VN stocks largely spared from trade war worries
Vietnam News - 5/24/2019 1:02:48 PM
 (0 ratings. You must sign in to rate.)
Vietnamese shares limited losses with investors buying up local assets as uncertainty caused by the US-China trade tensions cast a shadow over global markets.
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange inched down 0.11 per cent to close at 982.71 points.
The VN-Index declined as much as 0.67 per cent during the day before rebounding to limit losses. It has totalled a three-day loss of 0.45 per cent.
The HNX-Index on the Hà Nội Stock Exchange advanced 0.16 per cent to end at 106.30 points.
The northern market index had decreased by a total of 0.18 per cent in the previous two trading days.
Nearly 190.7 million shares were traded on the two exchanges, worth VNĐ4.76 trillion (US$204.7 million).
The Vietnamese stock market continued to be weighed down by selling pressure as investors were trying to earn profits from the market’s previous gains, which had put a number of stocks at their "expected price levels”, Thành Công Securities Co (TCSC) said in its daily report.
The VN-Index rallied and gained 4.23 per cent in seven straight trading days between May 9 and May 20.
“Investors were also cautious and pessimistic towards the unpredictability of the world’s economic and political developments,” TCSC said.
Trade worries may have also been behind the sales of Vietnamese assets by foreign investors. On Thursday, foreign investors net-sold a total of VNĐ166 billion on the HCM City and Hà Nội markets even as overall losses on the benchmark southern index were minimal.
“Large-cap stocks kept pressuring the market growth, so capital started switching to mid- and small-cap stocks,” MB Securities Co (MBS) said in a note.
Shares of chemical firms performed well on Thursday.
“Perhaps the divestment plans of State-owned enterprises (SOEs) in chemical firms were the main driving factor for their strong increases,” MBS said.
On the equity market, most fertiliser and chemical producers are members of the Vietnam National Chemical Group (Vinachem) and the Vietnam National Oil and Gas Group (PVN).
The two State-owned giants have been planning to sell the State capital in smaller chemical and fertiliser firms in recent years.
Among chemical stocks, Lâm Thao Fertilisers and Chemicals JSC (LAS) gained 1.2 per cent and PetroVietnam Chemicals and Fertilisers Corp (DPM) soared 5.7 per cent.
Thursday's declines may suggest the market has ended its correction phase as selling pressure was not strong enough to make the VN-Index drop below its support level of 980 points, MBS said.
“There are opportunities for investors to buy in stocks with supportive information,” MBS said. “Any decline or correction will be a chance for investors to overhaul their portfolios.” VNS
Read original article here
Newer News
13:13 VN stocks driven up by large-cap sector
18/09 Energy firms drive VN-Index up for 4th day
17/09 Auto stocks to grow thanks to rising consumption
16/09 Market growth to slow as momentum runs out
13/09 VN-Index stops declining, tech shares jump on earnings report
12/09 VN stocks make modest gains on mid-cap and small-cap firms
11/09 VN stocks fall amid lack of support
09/09 Market trend hard to predict after difficult week
06/09 VN-Index drops for three straight days
06/09 Total UPCoM firms reach 850 in August
Older News
23/05 VN stocks fall for a second day
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
Newsletter Signup
Top Stories
Crude import tax zeroed in November
VN central bank makes first key rate cut since 2017
Total UPCoM firms reach 850 in August
ACV: Gov't should buy back shares from ACV's foreign shareholders: MoT
EU enhances inspections on Vietnam’s agricultural products from Sept 1
Market Update
Last updated at 3:10:00 PM
VN-INDEX 990.36 -6.74/-0.68%
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.