
Lingering selling pressure continued to weigh on the market on Wednesday, however indices pared losses on gains of some pillar stocks.
On the Ho Chi Minh Stock Exchange (HoSE), the market benchmark VN-Index fell for the second day in a row to 1,401.02 points, a decline of 7.67 points, or 0.73 per cent. It lost nearly 45 points in the previous session.
There were still more stocks clinging to the downside, of which 268 stocks on HoSE ended the trading day lower with 60 stocks hitting the biggest daily decrease of 7 per cent. Meanwhile, only 78 stocks edged higher.
Liquidity also posted a strong drop of more than 40 per cent in trading value over the last session to VND14 trillion (US$588.2 million), equivalent to a trading volume of nearly 920.94 million shares.
The VN30-Index also finished lower to 1,047.58 points, a decrease of 6.48 points, or 0.61 per cent.
Fifteen of the 30 biggest stocks in the VN30 basket slumped, of which one stock hit the floor price, while 12 stocks increased with one registering the maximum daily gain of 7 per cent. And three stocks ended flat.
From a positive perspective, analysts at the Saigon – Hanoi Stock Exchange (SHS) said that after Tuesday’s correction, the market is likely to experience other fluctuations but soon return to the uptrend in the near future, heading to a resistance zone of 1,150 points.
“For short-term investors, the corrections are opportunities to buy shares,” SHS added.
Banking and manufacturing stocks continued to face sell-offs and led the general downtrend. Specifically, Vietcombank was the worst performer yesterday, down 1.88 per cent.
It was followed by PV Gas (GAS), VPBank (VPB), Masan Group (MSN) and Novaland (NVL), down in a range of 1.96-7 per cent, with NVL posting the biggest intra-day loss of 7 per cent.
Losses in other big names like Techcombank (TCB), MBBank (MBB), Hoa Phat Group (HPG), Vietnam Rubber Group (GVR) and Becamex (BCM) also pressured investors’ sentiment.
The index pared losses thanks to gains in some pillar stocks, led by property developer Vingroup (VIC). The company’s shares rose 7 per cent yesterday.
The HNX-Index on the Ha Noi Stock Exchange (HNX) also extended the bearish trend, down 2.87 points, or 1.35 per cent, to 209.93 points.
During the session, more than 115 million shares were traded on the northern bourse, worth nearly VND1.6 trillion.
Foreign investors continued to be net buyers on two main exchanges. Of which they net bought a large amount of over VND1 trillion on HoSE and VND26.78 billion on HNX. — VNS
- Octavia Spencer Sues Weight Loss Company for Acting Super Shady
- A Recent History of Legal Weight Loss Drugs
- Change could be coming at quarterback for Air Force, with local product Isaiah Sanders in the mix
- The next president could be forced to break up big Wall Street banks, even if they don't want to
- Will advances in groundwater science force a paradigm shift in sea level rise attribution?
- Strikingly dry conditions persist; Thomas Fire now largest California wildfire
- Lamellae, scansor pads, setae and adhesion... and the secondary loss of all of these things (gekkotans part IV)
- 4chan is going broke but its owner isn't interested in selling to famed troll Chuck Johnson
- 'Only the beginning': UM struggles in opening loss at Notre Dame
- F1 income up in 2018 but expenditure costs mean bigger overall loss
- Contrasts between Persistent and Diurnal Cold Pools
- The Myth of Black Confederates Persists
- Soybeans: Natural Weight-Loss Foods
- Alpine glaciers: Another decade of loss
- Live blog: Bucs rally falls short in 30-27 loss to Steelers
- Shopify – Finding Hot Products to Sell and Facebook Ads Strategy
- A Slightly More Convincing Reason For The Xbox One's Forced Online
- 50 Years Of Climate Change, Habitat Loss Somehow Unable To Take Down Goddamned Parrotfish
- 5 Tips For Looking Beyond Wins And Losses In B2B Metrics
- Skim Milk: Natural Weight-Loss Foods
Indices extend losses on persistent selling force have 635 words, post on bizhub.vn at December 8, 2022. This is cached page on Talk Vietnam. If you want remove this page, please contact us.