Friday, October 7, 2022 5:30:55 PM - Markets open
VN-INDEX 1,035.91 -38.61/-3.59%
HNX-INDEX 226.09 -9.04/-3.84%
UPCOM-INDEX 79.98 -2.43/-2.95%
Shares pierce May-bottom on weak investor sentiment
Vietnamnews - 7/7/2022 2:30:16 PM
 (0 ratings. You must sign in to rate.)
Shares declined for a third day this week with the VN-Index piercing the May-bottom, risking a further slump due to negative investor sentiment.
 
On the Hồ Chí Minh Stock Exchange, the VN-Index lost nearly 32 points, or 2.68 per cent, to close Wednesday at 1,149.61 points, lower than the bottom of 1,156 points on May 17 this year.
 
The market breadth was negative with 406 shares losing value, only 79 gaining and 83 closing flat.
 
Heavyweight shares had a free fall in the afternoon and pressured the market.
 
Vingroup’s trio of shares – Vingroup (VIC), Vinhomes (VHM) and Vincom Retail (VRE) – slumped and took away seven points. VRE hit the floor price of 7 per cent while VIC was kept near the floor and VHM lost 2.3 per cent.
 
PV Gas (GAS) and big banks such as Vietcombank (VCB), Vietinbank (CTG), BIDV (BID) and VPBank (VPB) were also hit hard and were among the top 10 shares dragging the VN-Index most.
 
Liquidity dropped with more than 556 million shares worth VNĐ12.6 trillion (US$543 million) being traded, down around 10 per cent in both volume and value compared to Tuesday.
 
According to analysts, there was no negative information in the market. International markets across Asia and the EU even rallied and oil prices rebounded above $100 per barrel in the previous session.
 
“Despite the efforts of the banking group, cash flow continued to outflow from weak sectors in high price ranges such as fisheries, chemicals, transport and electricity,” said Phương Phạm, a stock analyst at Viet Dragon Securities Co.
 
Phương said the selling pressure is increasing, threatening the general market's chances of recovery. It’s expected that VN-Index will continue in the short-term, thus investors should limit buying on a large scale and need to act defensively against risks from the resistance zone.
 
On the Hà Nội Stock Exchange, the HNX-Index decreased 2.17 per cent to end at 271.92 points. The northern bourse’s index was down 1.2 per cent on Tuesday.
 
Liquidity fell slightly to 65.4 million shares worth VNĐ1.2 trillion.
 
Foreign traders were also net sellers, being responsible for a net value of VNĐ759 billion on the two exchanges. Notably, foreigners increased selling in HCM City’s bourse, selling stocks worth VNĐ1.9 trillion, accounting for 15.3 per cent of total trading value in the southern bourse. — VNS
 
Read original article here
 
Newer News
04/10 Rising public investment to lift various stocks
28/09 Shares tumble for second day but slow on falling selling pressure
14/09 Corporate bond market has ample room for improvement
13/09 Delisting poor quality shares helps make market more transparent
09/09 Shares extend losses as major industries lose ground
06/09 Việt Nam one of world's best performing stock markets in August
05/09 Securities companies’ race heats up amid low market liquidity
30/08 Corporate bond issuance declines in the first six months
25/08 Shares rise for second day, propelled by food stocks
23/08 Shares slide on heavy selling force
Older News
07/07 HOSE announces list of top 10 securities companies
07/07 Over 1.6 billion shares could enter market in July
06/07 Seasoned investors unaffected by stock fluctuation
05/07 Market mixed due to rising selling force
01/07 Investors to be able to trade stocks on T+2 settlement cycle
29/06 Shares extend gains, bolstered by bank and energy sectors
25/06 Banking shares plummet to attractive prices
15/06 Pharmaceutical industry less affected in pandemic
11/06 Ministry of Finance to get privately-placed bonds back on track
10/06 VN-Index treads water as large-cap stocks divide
 
Newsletter Signup
Top Stories
Investors warned of the possibility of corporate bond default
Việt Nam retains positive economic outlook in short-term: World Bank
Reference exchange rate up 13 VND on Sept 14
Việt Nam one of world's best performing stock markets in August
Securities companies’ race heats up amid low market liquidity
Market Update
Last updated at 3:05:04 PM
VN-INDEX 1,035.91 -38.61/-3.59%
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.