Thursday, April 09, 2020 7:51:01 AM - Markets open
VN-INDEX 748.02 +1.33/+0.18%
HNX-INDEX 103.93 +0.51/+0.49%
UPCOM-INDEX 50.31 -0.12/-0.24%
Shares tumble on massive selling
Vietnam News - 8/6/2019 10:52:34 AM
 (0 ratings. You must sign in to rate.)
Vietnamese shares tumbled on Monday due to a massive sell-off from investors, affecting many large-cap stocks.
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange dropped 1.81 per cent to close at 973.15 points.
Nearly 196 million shares were exchanged on the southern market, worth VNĐ7 trillion. 
The VN-Index declined 0.22 per cent last week.
The market opened the week with heavy pressure from many large-cap stocks. Pillar stocks of the market were sold strongly and simultaneously decreased, specifically Vingroup (VIC) (-3.7 per cent), Vinhomes (VHM) (-5.5 per cent), Vincom Retail (VRE) (-3.4 per cent), Vietcombank (VCB) (-2.1 per cent), Asia Commercial Bank (ACB) (-1.4 per cent), PetroVietnam Gas JSC (GAS) (-1.9 per cent), Vinamilk (VNM) (-1.6 per cent), Masan Group (MSN) (-2.8 per cent) and Việt Nam National Petroleum Group (PLX) (-2.9 per cent).
Besides GAS, many stocks in the oil and gas group such as PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD), and PetroVietnam Construction Corporation (PVC) also declined.
In the opposite direction, some large-caps grew such as Mobile World Group (MWG) (+ 1.4 per cent) and FLC Faros Construction Joint Stock Company (ROS) (+2.2 per cent), but they could not save the market from a strong decline.
Asia Reach Investments Limited registered to sell nearly 1.3 million shares of Asia Commercial Bank (ACB) from August 6 to September 4. At the same time, First Burns Investments Limited also registered to sell over 513,200 ACB shares.
On a sector basis, dragging the market down were oil and gas, real estate, securities, insurance, seafood processing, and food and beverages, data on showed.
Large-cap stocks underperformed, pulling the VN30-Index down 1.46 per cent to 872.39 points, with 20 of the 30 largest stocks by market value and trading liquidity declining.
The HNX-Index on the Hà Nội Stock Exchange fell 0.77 per cent to end Monday at 102.91 points.
The northern market index lost 0.52 per cent last week.
Net selling value of foreign investors was VNĐ290.12 billion on HOSE, including Vietjet Air (VJC) (VNĐ62.78 billion), Hòa Phát Group (HPG) (VNĐ56.99 billion) and Vincom Retail (VRE) (VNĐ44.29 billion). They were also net sellers on HNX with a value of VNĐ15.38 billion.
According to BIDV Securities Company (BSC), the market had a negative trading session following the general trend in the region when concerns about the possibility of a worsening of the Sino-US trade war were underpinned by the Chinese central bank's move to adjust the exchange rate.
Investors should be cautious when trading at this time because the market's fluctuations could continue in coming sessions, the company said in its daily report. — VNS
Read original article here
Newer News
08/04 Shares recede on worries of foreign selloffs
07/04 VN-Index witnesses largest one-day gain in 19 years
04/04 Local shares end positively on oil price hikes, better market sentiment
01/04 VN stocks pick up after officials' reassurances
30/03 VN stocks nosedive following higher infection reports
27/03 Shares struggle as investors still cautious after hefty gains
26/03 Securities service fees cut does help, but more drastic measures in need: experts
26/03 VN-Index witnesses largest one-day gain since 2012
19/03 VN stocks head up amid strong foreign selling
18/03 VN-Index slides as foreign selling outclasses cheap purchases
Older News
02/08 VN stocks fall on US-China trade news
01/08 Shares recover on strong first-half earnings
31/07 VN stocks decline amid investors' caution
29/07 Local stocks to slow on mixed corporate earnings as investors wait for int'l events
26/07 75,000 derivatives trading accounts opened in first six months
25/07 Shares slow down as banks lose steam
24/07 Shares recover thanks to 'Vin' stocks
23/07 State-owned blue chips not suitable for covered warrant trading
23/07 Selling pressure sends stocks down
21/07 VN stocks to struggle amid mixed corporate earnings
Newsletter Signup
Top Stories
Reference exchange rate down 5 VND on March 26
Reference exchange rate up 5 VND on March 18
Shares tumble over WHO declaration of COVID-19 pandemic
Tight co-ordination needed to ensure EVFTA benefits
VN shares mixed, but growth expected to return
Market Update
Last updated at 3:10:01 PM
VN-INDEX 748.02 +1.33/+0.18%
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.