Tuesday, May 28, 2024 10:45:08 AM - Markets open
VN-INDEX 1,272.17 +4.49/+0.35%
HNX-INDEX 244.94 +2.11/+0.87%
UPCOM-INDEX 95.12 +0.25/+0.26%
Shares tumble after three-day rising streak
Vietnam News - 12/30/2021 2:19:06 PM
 (0 ratings. You must sign in to rate.)
Shares tumbled on Wednesday following a three-day rising streak as investors reacted to the economic data released by the General Statistics Office.
 
On the Hồ Chí Minh Stock Exchange, the VN-Index decreased 0.57 per cent to close at 1,485.82 points. The benchmark index gained 2.6 per in the previous three sessions.
 
On the Hà Nội Stock Exchange, the HNX-Index inched down 0.05 per cent to end at 457.83 points. The northern market index increased 3.5 per cent since last Friday.
 
Gross domestic product (GDP) expanded 5.22 per cent in the fourth quarter, higher than the same period last year, but the yearly growth is estimated to reach a decade low of 2.58 per cent as the prolonged lockdown in the third quarter hit the economy.
 
“Macroeconomic information in the fourth quarter has not yet been the driving force to extend investors’ excitement. The cash flow into the market was not as strong as in the previous session,” stock analysts at vietstock.vn said in a daily report.
 
Almost 960 million shares worth VNĐ28.9 trillion (US$1.3 billion) were traded in the two markets, down around 14 per cent in both volume and value compared to Tuesday’s levels.
 
Banks were still a good supporter as only five out of 19 listed lenders lost value. The biggest loser was Vietcombank (VCB), down 0.63 per cent, and with it being the top three largest listed companies by market capitalisation, its slump had a significant impact on the VN-Index’s decline. Meanwhile, Vietinbank (CTG), Vietnam International Bank (VIB), VPBank (VPB), Military Bank (MBB) and Hồ Chí Minh Development Bank (HDB) were on the positive side, helping cushion the market’s fall.
 
Securities shares also gained with biggest gainers including Saigon Securities Inc (SSI), VNDirect Securities (VND), Hồ Chí Minh Securities JSC (HCM), Viet Capital Securities (VCI) and Vietinbank Securities (CTS) all increasing by more than 1 per cent.
 
Steelmakers were also big gainers on Wednesday. Hòa Phát Group (HPG) increased 0.44 per cent while Hoa Sen Group (HSG) grew 2.8 per cent and Nam Kim Group (NKG) increased 4.3 per cent. Only Viet-Italy Steel (VIS) was down 3.39 per cent.
 
According to Lã Giang Trung, general director of Passion Investment, demand for cash usually increases at the end of the year and the liquidity of the banking system will be more strained than at other times. Meanwhile, on the stock market, there will be businesses and investors withdrawing money, affecting the investment cash flow.
 
“However, monetary policy in the world and in Việt Nam, in general, is still at the stage of expansion and has not been tightened. Therefore, the concern of reduced liquidity is not a big problem of the stock market,” Trung told tinnhanhchungkhoan.vn.
 
If the market corrects due to weak cash flow, the decrease will not be too strong and will become an opportunity for investors to disburse for 2022, he said. — VNS
 
Read original article here
 
Newer News
27/05 Market likely to continue volatility this week
25/05 Market plummets as liquidity surges to eight-week high
08/05 Positive investment opportunities in Vietnamese stocks with potential Fed rate reduction
08/05 VN adds over 110,000 new securities accounts in April, bringing total to 7.7 million
06/05 Cautious rise amid low supply and cash flow, investors advised to monitor resistance area
02/05 Market likely to face some fluctuations
02/05 Outstanding margin loans reach record high amidst strong equity growth
02/05 Interest rates to rise but not have major impact on stock market: economist
19/04 Market upgrade to begin a new phase of development
16/04 Market plunges, HOSE's value evaporates $10 billion
Older News
29/12 Shares manage to gain amid market votality
27/12 Analysts optimistic about market recovery this week
27/12 Domestic investors help to create records in securities market
25/12 Shares recover strongly in pre-holiday trading
23/12 Indices retreat, money flows in speculative stocks
23/12 Real estate stocks continue to shine bright in 2022
21/12 Shares struggle as large-caps vary
17/12 Share rebound on pillar stocks but liquidity low
17/12 Outlook of logistics stocks promising next year: VCBS
16/12 Stocks remain attractive on record fertiliser prices
 
Newsletter Signup
Top Stories
VN adds over 110,000 new securities accounts in April, bringing total to 7.7 million
Cautious rise amid low supply and cash flow, investors advised to monitor resistance area
Interest rates to rise but not have major impact on stock market: economist
Businesses concerned about rising exchange rate pressure
Gold bar auction to be resumed after 11 years of suspension
Market Update
Last updated at 10:45:00 AM
VN-INDEX 1,272.17 +4.49/+0.35%
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.