VN stocks fall again
Friday, November 16,2018AsemconnectVietnam - Vietnamese shares extended losses for a third straight day as investor confidence remained weak and foreign selling surged.
The benchmark VN Index on the Ho Chi Minh Stock Exchange dropped 0.42 per cent to close Thursday at 897.15 points.
Viet Nam’s benchmark index has lost total 2.28 per cent after the last three sessions.
The HNX Index on the Ha Noi Stock Exchange edged down 0.18 per cent to end at 101.02 points.
The northern market index has fallen nearly 2.3 per cent in total after three trading days.
More than 203.7 million shares were traded on the two local exchanges, worth VND4.56 trillion (US$202.7 million).
Thursday trading figures were up 11.4 per cent in volume and 16.7 per cent in value day-after-day.
Across the two exchanges, declining stocks slightly overwhelmed gainers by 235 to 191.
According to Bao Viet Securities JSC (BVSC), the market suffered because of fears about market volatility.
Trading liquidity rose slightly but remained below the moderate level (of the last 20 sessions). Meanwhile, while the market breadth was negative, the difference between the two sides wasn’t significant, BVSC said.
There was wide differentiation among stock groups, BVSC said, proving that attention was divided into different sectors.
Eleven of the 20 sector indices ended on a negative note and nine advanced, data on vietstock.vn showed. Declining sectors included insurance, real estate, securities, construction materials, and logistics.
The large-cap VN30 Index slipped 0.75 per cent to finish at 864.98 points with half of the 30 largest stocks by market capitalisation in the basket falling.
“Investors are waiting for a sharper decline of the market to seek short-term investment opportunities,” BVSC said in a report.
“Selling pressure is increasing,” BVSC said, adding that the market is likely to undergo strong volatility in the short term.
In that case, the supportive level for the VN index would be the threshold of 889-892 points in the coming sessions, BVSC said.
What also weighed on the Vietnamese market was the outflow of foreign investment.
Investors on Thursday were net sellers, recording more than VND500 billion, compared to Wednesday’s number of VND13 billion.
On the opposite side, bank, petroleum agriculture and plastic production were among the sectors that gained on Thursday.
Source: VNS
DAILY: Vietnamese coffee prices rose by 400 VND on March 28
Tuna exporters aiming for smaller markets
Vietnam's retail market proves attractive for foreign investors
Main commodity groups exported to Indonesia in 2 months of 2023
Wheat imports increased slightly in first 2 months of 2023
Steel market update: Price rises despite falling demand
Tea export value to China skyrockets
Reference exchange rate up 2 VND at week’s beginning
DAILY: Vietnamese pepper prices remained unchanged on March 27
DAILY: Vietnamese coffee prices remained unchaged on March 27
Significant efforts needed to realise 4.3-billion-USD shrimp exports
Coffee exports to Netherlands enjoy three-digit growth
Durian to make breakthrough for Vietnam's fruit exports
Corn imports decreased in first 2 months of 2023
Plan on implementing Decision No. 327/QD-TTG dated March ...
Concretize viewpoints, objectives, tasks and solutions of the plan in accordance with practical conditions of the locality, associating ...Plan on implementing national environmental protection ...
Implementation plan of marine aquaculture development ...
Program on conservation and development of Vietnamese ...
Plan on improving quality of human resources to 2025 and ...
Efforts taken to turn culinary culture into national ...
The Vietnam Cuisine Culture Association (VCCA) is taking steps to implement a project to build and develop Vietnamese culinary culture ...Vietnamese cuisine making a name for itself with ...
Vietnam advance to next round of AFC U20 Women’s Asian Cup
Cultural tourism and traditional values promoted through ...