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Markets fall on weak cash flow
Vietnam News - 6/26/2019 12:55:27 PM
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Vietnamese markets fell on Tuesday due to low liquidity as the market remained short on cash flow.
 
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange slid 0.28 per cent to close at 960.13 points.
 
More than 164 million shares were traded on the southern bourse, worth VNĐ3.6 trillion (US$154 million).
 
The index inched up 0.38 per cent on Monday to close at 962.85 points.
 
In the morning, the VN-Index decreased with the selling pressure focused on blue chips such as PetroVietnam Gas JSC (GAS), Vietnam National Petroleum Group (PLX) and Hòa Phát Group (HPG). The three stocks all lost 1 per cent.
 
In the afternoon, the selling pressure continued to increase among banking stocks such as Vietcombank (VCB), down 0.8 per cent; Bank for Investment and Development (BID), down 1.5 per cent; Techcombank (TCB), down 0.7 per cent; Vincom Retail (VRE), down 0.6 per cent; and Phú Nhuận Jewelry (PNJ), down 1.2 per cent.
 
Bảo Minh Insurance Corporation (BMI) increased by 5.5 per cent to VNĐ26,000 per share after SCIC Investment (SIC), a subsidiary of the State Capital Investment Corporation (SCIC), registered to buy 1 million shares.
 
Foreign investors ended net sellers on HOSE, offloading VNĐ57.78 billion with a focus on The Thành Thành Công Sugar Joint Stock Company (SBT) (VNĐ28.34 billion), Biên Hòa Packaging Company (SVI) (VNĐ20.93 billion) and dairy firm Vinamilk (VNM) (VNĐ18.65 billion). In addition, they sold a net value of VNĐ3.56 billion on the HNX.
 
According to BIDV Securities Company (BSC), the domestic market had a correction session due to profit taking pressure along with low liquidity, showing a cautious sentiment as investors waited for movements in external markets based on tension between the US and Iran and the Fed's focus on cutting interest rates, as well as information about Q2 business results, the G20 summit, the OPEC+ production meeting and the US-China trade war.
 
The large-cap VN30-Index lost 0.05 per cent to end the session at  868.50 points. Performance was mixed with 10 gainers and 16 decliners, while four stocks ended flat.
 
On the Hà Nội Stock Exchange, the HNX-Index lost 0.60 per cent to end at 104.15 points.
 
Nearly 24.9 million shares were exchanged on the northern market, worth VNĐ449 billion.
 
The UPCoM Index on the Unlisted Public Company Market gained 0.09 per cent to close Tuesday at 55.20 points. — VNS
 
 
Read original article here
 
Newer News
20/01 VN-Index suffers big loss, liquidity exceeds 1 bln USD
06/01 Number of new securities trading accounts reaches record high
30/12 Shares advance on high demand, VN-Index nearing 1,100 points
28/12 Vietnam’s GDP growth estimated at 2.91 pct this year
25/12 Stocks collapse on worries about system failure
17/12 Shares reach one-year peak on banking stocks
15/12 Financial stocks boost markets
10/12 VN stocks rebound, focus switches to banking, securities firms
07/12 Market’s uptrend may weaken after five consecutive gaining weeks
01/12 VAFI says no to increase the minimum trading lot to 100 shares.
Older News
25/06 Shares move little on low liquidity
24/06 VN stocks predicted to progress slowly ahead of China-US talks at G20 summit
21/06 Japanese helps VN to improve equity market transparency
21/06 Fed future plan on rate cuts lift VN stocks
20/06 VN stocks saved by hopes for trade war truce
19/06 Local stocks quiet ahead of key events
18/06 Funds lose against VN-Index as trade war escalates
17/06 Vietnamese securities catch the eye of South Korean investors R
15/06 VN-Index recovers after three-day decline
14/06 Shares fall for third day of trading
 
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