Saturday, June 10, 2023 6:51:20 PM - Markets open
VN-INDEX 1,107.53 +6.21/+0.56%
HNX-INDEX 227.60 +0.82/+0.36%
UPCOM-INDEX 84.19 +0.17/+0.20%
VN stocks slow gains down on economic worries
Vietnam News - 6/6/2019 1:30:11 PM
 (0 ratings. You must sign in to rate.)
Vietnamese shares gained slower on Wednesday afternoon as a lack of supportive information and worries about global economy recession weighed on the market sentiment.
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange inched up 0.03 per cent to close at 951.41 points.
The VN-Index gained as much as 0.76 per cent during the day. It rose 0.50 per cent on Tuesday.
The market is missing much needed information that is strong enough to boost morale, according to Sài Gòn-Hà Nội Securities (SHS).
The US central bank Fed’s decision to lower interest rates in 2019 hardly had any positive impact on the Vietnamese market, SHS said in its daily report.
The decline of trading liquidity proved domestic investors were getting bored with the current market condition and they were trying to run away from local stocks, SHS added.
Nearly 131.6 million shares were traded on the southern bourse, worth VNĐ2.7 trillion (US$116 million).
The figures were down 19 per cent in volume and 19.4 per cent in value from Tuesday.
The weak market confidence sent the large-cap VN30-Index down 0.08 per cent to 863.69 points at the end of the day.
Weighing on the large-cap basket were Eximbank (EIB), steel producer Hòa Phát Group (HPG), VPBank (VPB), Vietcombank (VCB) and Military Bank (MBB).
The five large-cap stocks dropped between 0.5 per cent and 3.5 per cent.
Their declines outweighed the growth of other stocks such as real estate firm Vingroup (VIC), DHG Pharmaceutical JSC (DHG) and retailer Mobile World (MWG).
On a sector basis, property, retail, rubber, technology and plastic sector indices advanced between 0.7 per cent and 2.7 per cent, data on showed.
Wednesday increase might be a technical recovery only and it remained uncertain that the stock market had overcome its downtrend, according to Thành Công Securities Co (TCSC).
The unpredictability of the US-China trade war and worries over the global economic development would continue overshadowing the market performance, TCSC said.
The stock market would need to go through some more falling sessions to consolidate before rising again, TCSC added.
On the Hà Nội Stock Exchange, the HNX-Index edged up 0.47 per cent to end at 103.54 points.
The northern market index had fallen total 2.14 per cent in the previous four trading days.
More than 20.3 million shares were traded on the northern bourse, worth VNĐ240.7 billion. — VNS
Read original article here
Newer News
03/06 FDI enterprises see contradictory performance on stock market
03/06 Shares end the week on positive note
03/06 Stock, real estate markets to become more attractive thanks to low interest rates
30/05 Investors bet on positive market outlook, indices rise
19/05 Shares rebound on bargain-hunting
16/05 Securities companies must comply with regulations on deposit management: SSC
09/05 Many banks planning move to HoSE
07/05 Shares fall slightly on low liquidity
04/05 Economic growth to rebound in H2, now ideal time to selectively buy stocks: VinaCapital
04/05 Companies slow down their listing plans amid market turbulence
Older News
05/06 Shares recover on bottom fishing
04/06 Trade war fears darken VN stocks
01/06 Shares fall for four consecutive sessions
30/05 VN shares mixed as world markets remain volatile
29/05 Markets fall after ETF reviews portfolio
28/05 VN markets mixed on continued trade worries
27/05 More purchases of small stocks this week: analysts
25/05 VN stocks tumble on international pressure
24/05 VN stocks largely spared from trade war worries
23/05 VN stocks fall for a second day
Newsletter Signup
Top Stories
Stock, real estate markets to become more attractive thanks to low interest rates
CPI rose slightly by 0.01 per cent in May
Bad debts running rampant in construction sector
Bank deposit interest rates keep falling
Airlines look to capitalise on thriving demand
Market Update
Last updated at 3:05:04 PM
VN-INDEX 1,107.53 +6.21/+0.56%
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.