Tuesday, November 5, 2024 9:21:10 AM - Markets open
VN-INDEX 1,244.71 0.00/0.00%
HNX-INDEX 224.71 +0.26/+0.11%
UPCOM-INDEX 91.76 +0.15/+0.17%
The market experiences severe fluctuations, the VN-Index drops close to the 1,300-point mark
vietnamnews - 7/24/2024 8:24:47 AM
 (0 ratings. You must sign in to rate.)
On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index plunged 22.83 points, equivalent to 1.82 per cent, to 1,231.81 points as the VN-Index witnessed its third consecutive day of significant drops.
 
 
A Vietnam Airlines ATR-72 aircraft. The national airline's stock hit the lower limit once again, marking a drop of over 35 per cent for the month. — Photo courtesy of Vietnam Airlines
 
 The stock market experienced a sharp decline on Tuesday, with major stocks also suffering significant losses. Consequently, the VN-Index witnessed its third consecutive day of significant drops.
 
On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index plunged 22.83 points, equivalent to 1.82 per cent, to 1,231.81 points.
 
On the southern bourse, the breadth was negative as 278 stocks declined, while 62 increased. Liquidity remained low at VNĐ18 trillion (US$705.8 million), a decrease of 14.7 per cent from the previous trading session.
 
The VN30-Index, tracking the 30 biggest stocks on HoSE by market capitalisation, also fell sharply by 20.64 points, or 1.59 per cent, to 1,278.67 points. The number of decliners surpassed gainers in the VN30 basket by 24 to five, while one stock ended flat.
 
Large-cap stocks in the banking and manufacturing sectors led the market's downturn, with the Bank for Investment and Development of Vietnam (BID) posting the biggest fall in market capitalisation of 3.56 per cent, contributing to a decrease of 2.31 points in the VN-Index.
 
Other notable decliners in the banking sector included Military Commercial Joint Stock Bank (MBB), down 5.61 per cent, Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG), down 3.71 per cent and Vietnam Technological and Commercial Joint Stock Bank (TCB), down 2.54 per cent.
 
Among other notable decliners, Vietnam Rubber Group (GVR) saw a drop of 6.56 per cent, contributing to a nearly two point decrease in the VN-Index. Vietnam Airlines JSC (HVN) hit the lower limit once again, marking a drop of over 35 per cent for the month.
 
The market's losses were limited by slight gains in a few stocks, led by FPT Corporation, which rose 1.13 per cent, contributing more than 0.5 points to the VN-Index.
 
According to Vietcombank Securities (VCBS), the increase in selling pressure towards the end of the session resulted in a significant drop in the stock market, while the lack of strong buying signals indicated that investors are cautiously observing the market amid the absence of stabilising signals.
 
Given the current situation, VCBS recommends that investors restructure their portfolios by reducing exposure to weak stocks, limiting new purchases and patiently waiting for clear signs of market reversal.
 
The Ha Noi Stock Exchange (HNX) index also finished lower on Tuesday afternoon, declining 1.59 per cent to 234.6 points.
 
During the session, more than VNĐ1.2 trillion worth of shares were traded, equivalent to a trading volume of over 57 million shares on the northern bourse.
 
Foreign investors returned to their net selling spree as they net sold over VNĐ128 billion on the HoSE. — VNS
 
Read original article here
Newer News
04/11 Vietnam stock market opens the week with a downturn as foreign investors continue net selling
04/11 Opportunities and challenges in a transitional phase
01/11 Eyeing the stock market post the US presidential election
30/10 Market continues moving upward as foreign investors record strong net sales
29/10 HOSE delists Sao Thai Dương (SJF) shares from 1 November
29/10 Market begins the week on a positive note
28/10 Caution prevails in market amid rising selling pressure
28/10 Securities clearing regulation amendment proposed
25/10 Market in sharp decline as investors resume strong net selling
24/10 Poor performances cast shadow over securities firm prospects
Older News
23/07 VN-Index opens the new week with a sharp decline
22/07 Pillar stocks to sustain VN-Index's upward trend
19/07 ASEAN stock exchanges cooperate to connect trading and develop standardised ESG curriculum
18/07 Market falls while liquidity surges to 17-session high
18/07 Securities stocks still see positive long-term outlook
15/07 Securities firms see bright picture for market in July
15/07 Metfone – a typical model for Vietnam-Cambodia economic cooperation: President
15/07 Market fluctuates around the 1,300-point threshold
11/07 Surge in Petrolimex and PV Oil shares following new draft decree on fuel trading
11/07 VN-Index breaks nine days of gains
 
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 9:14:59 AM
VN-INDEX 1,244.71 0.00/0.00%
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.