Shares declined on Monday as securities and banking lost momentum on investors selling pressure rising. An investor monitors the security index in Ha Noi. - VNS Photo Thai Ha The benchmark VN Index on the HCM Stock Exchange dropped sharply 2.87 per cent to close at 987.34 points, breaking the 1000-point threshold. It had inched up 0.08 per cent on Friday. The HNX Index on the Ha Noi Stock Exchange lost 2.46 per cent to end at 113.05 points, reversing from its gain of 0.86 per cent on Friday. More than 222.8 million shares were traded on the two local exchanges, worth VND5.3 trillion (US$234 million). The market breadth was negative as declining stocks outnumbered gaining ones by 312 to 140 while 288 other stocks remained unchanged. Massive sell-offs drowned 16 of the 20 sectors on the stock market. Key industries that saw share prices drop included banking-financial, energy, construction material and retail, data on vietstock.vn showed. Large-cap stocks were hit strongly by … [Read more...] about Selling pressure drives market down
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Stocks dive as rallies spark selling
Vietnamese shares sloped on Tuesday as recent rallies triggered a massive sell-off among investors to lock in profits and further market decline is in forecast for local markets. An investor looks at an electronic stock board at the Bao Viet Securities Company in Ha Noi on Tuesday morning.-VNS Photo Doan Tung The benchmark VN Index on the HCM Stock Exchange dropped 1.76 per cent to close at 1,020.76 points. It had rallied total 9.5 per cent in the previous eight consecutive sessions. The HNX Index on the Ha Noi Stock Exchange lost 1.66 per cent to end at 116.49 points, extending its downtrend for a second day with total decline of 2.8 per cent. More than 264 million shares were traded on the two local exchanges, worth VND7.18 trillion (US$319.2 million). The market breadth was negative as declining stocks outnumbered gaining ones by 317 to 139 while 92 other stocks were unchanged. The benchmark VN Index finally corrected after it had failed to surpass the 1,045-point level … [Read more...] about Stocks dive as rallies spark selling
BUSINESS IN BRIEF 5/6
Vietnam eager to develop Lien Chieu deep seaport The government has been urging the authorities to appraise Lien Chieu Seaport, showing strong support and promising smoother sailing for the project. Deputy Prime Minister Trinh Dinh Dung recently urged the Ministry of Planning and Investment (MPI) to appraise the capital sources and mobilisation methods of investment capital at Lien Chieu port. Besides, the DPM assigned the Danang People’s Committee to complete the pre-feasibility report for the project after the city studied MPI’ appraisal. Based on reports of MPI and Danang city, the Ministry of Transport (MoT) was asked to build the investment planning evaluation report to submit the prime minister for approval. The assignment of the DPM shows Vietnam’s eagerness to develop the Lien Chieu Seaport project, which is considered one of two key projects that aim to boost the central city as a main logistics centre in the ASEAN and the East-West Economic Corridor (EWEC) … [Read more...] about BUSINESS IN BRIEF 5/6
VN shares rise for a second day
Shares rose for a second day on Friday on the two national stock exchanges as investors increased bargain hunting for large-cap stocks after the steep decline since mid-April. Shares rose for a second day on Friday on the two national stock exchanges as investors increased bargain hunting for large-cap stocks after the steep decline since mid-April.– VNA/VNS Photo Vietnam’s benchmark VN-Index on the HCM Stock Exchange increased 2.23 per cent to close Friday’s trade at 992.87 points, extending a two-day growth to 4.63 per cent. On the Ha Noi Stock Exchange, the HNX-Index edged up 0.73 per cent to end at 115.75 points. The northern market index rose 2.9 per cent on Thursday. Large caps again led the market rise on Friday as 25 of the top 30 largest shares by market value and liquidity on the main bourse in HCM City advanced while only three declined. Steelmaker Hoa Sen Group (HSG) and budget airline Vietjet Air (VJC) were the biggest gainers, rising 7 per … [Read more...] about VN shares rise for a second day
VN stocks bounce back on banks
Vietnamese shares soared on Thursday on strong demand from investors for financial-banking firms and property developers. People watch stock movements at Bao Viet Securities Co in Ha Noi.-VNS Photo Truong Vi The benchmark VN-Index on the HCM Stock Exchange rose 2.40 per cent, or 22.75 points, to end at 971.25 points. It was down 0.39 per cent on Wednesday. The minor HNX Index on the Ha Noi Stock Exchange gained 2.88 per cent to close at 114.91 points, recovering from a 1 per cent loss made in the previous session. More than 224.6 million shares were traded on the two local exchanges, worth VND6.57 trillion (US$292.2 million). Market trading liquidity increased from Wednesday’s level with a 21 per cent growth in volume and a 29 per cent rise in value. Large-cap stocks received strong purchases from investors, with the blue-chip VN30 Index jumping 3.12 per cent to 947.31 points at the end of the day. The market breadth was positive as gaining stocks were dominant over … [Read more...] about VN stocks bounce back on banks