Friday, September 20, 2019 4:33:45 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 tumble on international pressure
Vietnam News - 5/25/2019 3:26:25 PM
 (0 ratings. You must sign in to rate.)
Vietnamese shares tumbled on Friday as investors lost patience amid rising concerns over the US-China trade war.
 
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange dropped 1.29 per cent to close at 970.03 points.
 
The VN-Index has lost a total of 1.73 per cent in the last four trading days, breaking through its expected support of 980 points.
 
That went against previous forecasts from securities firms before Friday’s session opened.
 
The VN-Index was down 0.66 per cent this week.
 
More than 168 million shares were traded on the southern bourse, worth VNĐ4.02 trillion (US$172.8 million).
 
Large-cap stocks were the main factor that dragged the market down.
 
The large-cap VN30-Index plunged 1.18 per cent to end at 884.48 points.
 
In the VN30 basket, 19 of the 30 largest stocks by market value and trading liquidity declined.
 
Among losers were food and beverage producer Masan (MSN), Eximbank (EIB), PetroVietnam Gas (GAS), property firm Vinhomes (VHM) and SSI Securities Inc (SSI).
 
Those companies’ sector indices dropped between 1.4 per cent and 3 per cent, data on vietstock.vn showed.
 
Selling pressurised large-cap stocks, especially when foreign investors net-sold VNĐ285.4 billion worth on the southern market, Thành Công Securities Co (TCSC) said in its daily report.
 
Strong foreign selling created negative impacts and made it more difficult to predict how the market would move in short term future, the company said.
 
Global investors were still keeping a cautious stance towards the US-China trade war with focus on Chinese technology firms, including Huawei.
 
According to BIDV Securities Corp (BSC), the correction continued as both domestic and international markets were vulnerable because of the unpredictable developments from the US-China trade tension.
 
Investors also worried about the global economic growth, which would be affected by the trade war, BSC said.
 
The market may continue falling in the short term because the VN-Index has lost its technical support (of 980 points), according to MB Securities Co (MBS).
 
The VN-Index may move between 950 points and 980 points in the near term, and trading would get more and more difficult, MBS said.
 
On the Hà Nội Stock Exchange, the HNX-Index fell 0.86 per cent to end at 105.39 points.
 
The northern market index has declined by total 0.38 per cent through the week.
 
More than 32 million shares were traded on the northern bourse, worth VNĐ426.5 billion. — 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
24/05 VN stocks largely spared from trade war worries
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
 
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...
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.