Saturday, November 30, 2024 4:12:51 PM - Markets closed
VN-INDEX 1,250.46 +8.35/+0.67%
HNX-INDEX 224.64 +1.07/+0.48%
UPCOM-INDEX 92.74 +0.39/+0.43%
Shares subdued due to strong selling force
Vietnam News - 7/15/2021 1:20:34 PM
 (0 ratings. You must sign in to rate.)
Shares fell on Wednesday as strong selling pressure hampered the growth of banking stocks.
 
On the Hồ Chí Minh Stock Exchange (HoSE), the benchmark VN-Index lost 1.36 per cent to close at 1,279.91 points.
 
It had risen 0.1 per cent to close Tuesday at 1,297.54 points.
 
Market breadth was negative as 138 stocks rose while 234 decreased.
 
Market liquidity stayed almost the same as Tuesday with a trading value of more than VNĐ19.3 trillion (US$834.4 million), equivalent to some 593 million shares traded on the southern market.
 
After a slight increase on Tuesday, the Vietnamese market reversed Wednesday to fall due to increased selling pressure focused on banking stocks.
 
Banking stocks traded poorly with losers including Vietinbank (CTG), Vietcombank (VCB), Vibank (VIB), Lien Viet Post Bank (LPB), Military Bank (MBB), Maritime Bank (MSB), VPBank (VPB), Asia Commercial Bank (ACB), Bank for Investment and Development of Vietnam (BID), HDBank (HDB) and Techcombank (TCB).
 
"The VN-Index saw strong selling pressure from the middle of the morning session but the drop was somewhat restrained in the afternoon session and the VN-Index is now around 1,280," said BIDV Securities Co.
 
"Investment cash flow dropped sharply. Meanwhile, foreign investors were net buyers on the HoSE and net sellers on the HNX.
 
“Besides, market breadth turned negative with increased liquidity compared to the previous session. According to our assessment, the VN-Index may continue to move to the area around 1,265 before bottom fishing demand returns,” it said.
 
Foreign investors net bought VNĐ326.54 billion on HOSE, including steel company Hoà Phát Group (HPG) with VNĐ157.3 billion, Vinhomes (VHM) with VNĐ145.4 billion and SSI Corporation (SSI) with VNĐ98.9 billion. They were net sellers on the HNX with a value of VNĐ1.32 billion.
 
On a sector basis, 23 out of 25 sector indices witnessed decreases, including real estate, securities, information and technology, retail, banking, agriculture, seafood, logistics, wholesale, insurance, healthcare, oil and gas, rubber production and construction materials.
 
The only two gainers were food and beverages and construction.
 
The VN30-Index, tracking the 30 biggest stocks in market value, decreased 2.12 per cent to 1,410.30 points. Twenty-two of the VN30 basket declined, while six stocks increased.
 
On the Hà Nội Stock Exchange (HNX), the HNX-Index rose 0.05 per cent to close at 296.84 points.
 
Nearly 88.5 million shares were traded on the northern bourse, worth VNĐ1.9 trillion. — VNS
 
Read original article here
 
Newer News
29/11 Market edges up as liquidity continues to decline
26/11 SSI regains top spot for charter capital in securities industry
26/11 PVT Logistics submits 66 million shares for HoSE listing after strong Q3
23/11 Market ends flat on rising selling force
21/11 Vinhomes acquires 190M shares, exceeds half of registered total
21/11 Foreign Investors set record in sell-off on HoSE
20/11 Market falls for fourth straight session as foreign bloc intensifies net selling
19/11 Market opens the week with slight decline as foreign investors net sell over VNĐ1.4 trillion
18/11 Market rocked by pressure from exchange rates and interest rates
15/11 Market experiences sharp pullback as VN-Index nears 1,230 points
Older News
07/07 Amost no change under new trading regulations at HoSE
01/07 Shares pull back on rising selling pressure
29/06 Blue-chips boost shares, VN-Index reaches 1,400
24/06 Market falls on strong selling forces
23/06 Shares rally on back of some pillar stocks
21/06 Shares to move up but investors should be cautious
21/06 Beverage stocks face more challenges despite positive results in Q1
18/06 Shares rebound on bottom-fishing
14/06 VN-Index heading toward 1,400 points this week on bullish sentiment: analysts
14/06 Companies' share issuance plans sometimes pressure 'small' investors
 
Newsletter Signup
Top Stories
VCCI recommends mineral mining rights be granted through auction and bidding
Central bank works to raise interbank rates and ease forex market
Inflation a concern following salary increases
National Council for Sustainable Development established
Việt Nam, Cambodia look forward to $20 billion trade
Market Update
Last updated at 3:05:01 PM
VN-INDEX 1,250.46 +8.35/+0.67%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
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.