Sunday, December 08, 2019 9:39:59 AM - Markets open
VN-INDEX 963.56 +0.29/+0.03%
HNX-INDEX 102.50 +0.13/+0.13%
UPCOM-INDEX 55.92 +0.06/+0.11%
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
06/12 VN stocks step down as confidence fades on lack of news
04/12 VN stocks decline for a second day
03/12 VN stocks suffer a sudden drop in the afternoon
02/12 Bottom fishing may push shares up slightly
29/11 Shares drop after two-day rise
28/11 Shares gain but selling pressure still high
27/11 Billions of shares pending for HoSE listing
22/11 VN-Index tumbles in late sell-offs
22/11 UPCoM offers opportunities for market players
18/11 VN30 firms take 92% of all top listed firms’ total Q3 profits
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
Reference exchange rate down 3 VND on December 6
Vietnam’s economy stays positive amid global growth slowdown: PM
Vietnam attracts 31.8 billion USD in FDI in 11 months
Software firms are adding more value to their products
VN30 firms take 92% of all top listed firms’ total Q3 profits
Market Update
Last updated at 3:10:01 PM
VN-INDEX 963.56 +0.29/+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.