Vietnamese stock markets will likely remain gloomy in the coming week as investors could maintain poor confidence amid the volatility of the market, thus keeping overall liquidity low and too weak for a market’s short-term comeback. A trading session at Maybank Kim Eng Securities Company in HCM City. - VNA/VNS Photo Hoang Hai The benchmark VN Index on the HCM Stock Exchange (HOSE) advanced nearly 1 per cent to close Friday at 1,040.54 points, totalling a weekly loss of 0.4 per cent. The VN Index has erased 13.6 per cent since it hit the record high of 1,204.33 points on April 9. The minor HNX Index on the Ha Noi Stock Exchange inched down 0.19 per cent on Friday to end last week at 121.27 points. The northern market index fell a total 1.2 per cent after one week. An average of 246 million shares were traded in each of the five trading sessions last week, worth VND11 trillion (US$489 million). The daily average trading figures last week increased by 16.6 per cent in … [Read more...] about VN stocks may keep weakening
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VN shares slip on strong selling
Vietnamese shares ended Tuesday on a negative note as investors tried to take profit from the market’s previous strong gains made in the first trading session of the week. The benchmark VN-Index on the HCM Stock Exchange inched down 0.17 per cent to close at 1,060.45 points. It stepped down after jumping 3.45 per cent on Monday. The HNX Index on the Ha Noi Stock Exchange dropped nearly 1 per cent to end at 125.33 points, putting an end to its rally following a three-session increase of total 4.6 per cent. More than 222 million shares were traded on the two local exchanges, worth VND5.9 trillion (US$262.8 million). Trading figures were up 5.7 per cent in volume and 2.7 per cent in value compared to Monday. Declining stocks outnumbered gaining stocks by 259 to 192 while 110 other stocks ended flat. Across the 20 sectors on the stock market, 11 industries saw share prices drop, including energy firms, property developers, brokerages, banks and food and beverage producers. Data on … [Read more...] about VN shares slip on strong selling
VN-Index declines a second day
Investors increased bargain purchases in yesterday’s afternoon trade when the benchmark VN-Index retreated near 1,000 points, but this was not enough to help the market close in green when foreign traders accelerated selling. On the HCM Stock Exchange, the VN-Index dropped for a second day this week, down 0.25 per cent to close at 1,026.46 points. It declined over 2 per cent on Wednesday. Many large-cap shares improved, which was shown in the higher number of gainers (16 against 11) in the VN30 basket which tracks the top 30 shares by market value and liquidity on the southern exchange. Gainers included big banks like Vietinbank (CTG) and Vietcombank (VCB), up 6.4 per cent and 2.4 per cent, respectively; insurer Bao Viet Holdings (BVH), up 3.2 per cent; and brewer Sabeco (SAB), up 2 per cent. However, steel and gas companies continued to dive due to poor Q1 earnings. PV Gas (GAS), Viet Nam’s biggest LPG supplier and fifth largest listed company, suffered the highest daily … [Read more...] about VN-Index declines a second day
VN-Index pulled down by large-cap stocks
The VN-Index on Ho Chi Minh Stock Exchange drops 8.65 points to close at 1,148.49 points on April 16. (Photo: VNA) Hanoi (VNA) – The VN-Index on Ho Chi Minh Stock Exchange dropped 8.65 points to close at 1,148.49 points on April 16 as selling pressure hit many large-cap stocks. Declining stocks dominated the southern bourse, outnumbering gainers by 149 to 123. Meanwhile, 61 stocks ended flat. Underperformed large-cap stocks included those of dairy giant Vinamilk (VNM), down 5,700 VND per share, FLC Faros Construction JSC (ROS) which fell 6,800 VND per share, Bao Viet Holdings (BVH) which decreased 800 VND per share. Two large shares in steel industry, HPG and HSG, extended their reduction of up to 1,100 VND and 750 VND per share, respectively. Meanwhile, oil and gas stocks regained their shine given slight increase in the stocks of Petrolimex (PLX) and Binh Son Refining and Petrochemical Company (BSR). Meanwhile, OIL, PVB and PVO declined 800 VND, 300 VND and 200 VND, … [Read more...] about VN-Index pulled down by large-cap stocks
VN Index struggles to stay positive
Viet Nam’s benchmark VN Index ended Thursday on a positive note as investor sentiment improved slightly, but a volatile market is forecast for the next trading day. The benchmark VN Index on the HCM Stock Exchange (HOSE) inched up 0.14 per cent to close at 1,193.17 points. It gained 0.3 per cent on Wednesday. More than 241 million shares were traded on the two local exchanges, worth VND7.85 trillion (US$349 million). Market breadth was positive with 174 gaining stocks, 121 decliners and 44 stocks unchanged. According to Sai Gon-Ha Noi Securities Company (SHS), the recovery of the US stock market on Wednesday night boosted investor confidence in Vietnamese stocks. However, investors remained cautious with world stocks, including Viet Nam, on fears of a trade war between China and the US. The same pattern occurred on the Vietnamese stock market as the VN Index began losing when it neared the 1,200-point level again. Market volatility continued to strike as the VN Index traded … [Read more...] about VN Index struggles to stay positive