Thursday, December 1, 2022 1:22:54 AM - Markets open
VN-INDEX 1,048.42 +16.26/+1.58%
HNX-INDEX 208.79 +0.57/+0.27%
UPCOM-INDEX 70.87 +0.49/+0.70%
Shares tumble for second day but slow on falling selling pressure
Vietnam News - 9/28/2022 9:49:28 PM
 (0 ratings. You must sign in to rate.)
 Shares tumbled for a second day this week but selling pressure reduced, cushioning the market downturn.
On the Hồ Chí Minh Stock Exchange, the VN-Index decreased 0.67 per cent to close Tuesday at 1,166.54 points, widening the two-day loss to more than 3 per cent.
Liquidity dropped significantly with 466.6 million shares worth VNĐ10.6 trillion (US$449 million) being traded, down 38 per cent in volume and 40 per cent in value compared to Monday’s levels.
The market breadth was negative with 266 shares losing value while 183 gained and 160 closed flat.
Vingroup (VIC), Vinhomes (VHM) and PV Gas (GAS) were the three shares dragging the market most. VHM declined 3.2 per cent while VIC lost 1.8 per cent and GAS decreased 1.9 per cent. The VN-Index lost three points due to the slump of these three shares.
Other big losers included Vinamilk (VNM), down 2.2 per cent; Vietcombank (VCB), down 0.9 per cent; Đức Giang Chemical Group (DGC), down 4.9 per cent; Mobile World Investment (MWG), down 1.3 per cent; and FPT Corp (FPT), down 1.2 per cent.
On the bright side, the securities and banking sector recovered slightly with an average growth of 0.3 per cent each, contributing to easing investors’ nerves.
Gainers included Military Bank (MBB), BIDV (BID), Techcombank (TCB), Asia Commercial Bank (ACB), Saigon Securities Inc (SSI), Hồ Chí Minh Securities Corp (HCM) and FPT Securities (FTS) with growth of less than 1 per cent each.
“Bottom-fishing cash flow showed signs of more active participation when VN-Index dropped deeply to the old bottom area of 1,160 points. However, the positive signs did not spread but concentrated in some stocks and some industry groups,” said Phuong Pham, a stock analyst at Viet Dragon Securities Co.
According to Phương, selling pressure may grow again when both VN-Index and VN30-Index approach the strong resistance zone of 1,200 points. With the potential weakening risk, investors should wait for more reliable market support signals to take action, while continuing to take advantage of short-term uptrend to increase the cash proportion and keep the portfolio at a safe level.
On the Hà Nội Stock Exchange, the HNX-Index edged down 0.06 per cent to end at 255.52 points. The northern market’s index slumped 3.3 per cent on Monday.
Liquidity almost halved here with just 49 million shares worth over VNĐ1 trillion being traded.
Foreign traders were net sellers on both exchanges, offloading shares worth net value of VNĐ401 billion. — VNS
Read original article here
Newer News
29/11 Credit concerns affecting Vietnamese stocks should ease soon: VinaCapital
23/11 VN-Index struggles on persistent selling force
23/11 Securities companies adjust business results amid market downturn
15/11 Market declines but bright prospect on horizon
14/11 Lo ngại về tính thanh khoản thấp trên thị trường chứng khoán
11/11 Listed companies raise cash reserves
10/11 Investors worried as speculative stocks plummet
07/11 Shares to face downward trend on increased sell-off
07/11 Bank stocks hit by corporate bonds maturity
29/10 VN-Index corrects after strong recovery
Older News
14/09 Corporate bond market has ample room for improvement
13/09 Delisting poor quality shares helps make market more transparent
09/09 Shares extend losses as major industries lose ground
06/09 Việt Nam one of world's best performing stock markets in August
05/09 Securities companies’ race heats up amid low market liquidity
30/08 Corporate bond issuance declines in the first six months
25/08 Shares rise for second day, propelled by food stocks
23/08 Shares slide on heavy selling force
17/08 Market struggles as big stocks diverge
09/08 Investors' risk appetite continues to improve this week
Newsletter Signup
Top Stories
Banks gain big profits from forex trading
Pharmaceutical firms report positive results in Q3
Petrol prices surge in latest adjustment
Investors worried as speculative stocks plummet
Bank stocks hit by corporate bonds maturity
Market Update
Last updated at 3:05:03 PM
VN-INDEX 1,048.42 +16.26/+1.58%
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...
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.