Want to be in the loop?
subscribe to
our notification
Business News
MARKET DOWN SLIGHTLY ON RISK-OFF SENTIMENT
The stock market was down slightly yesterday with both benchmark indices lower due to weak risk appetite.
The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) fell 1.22 points, or 0.1 per cent, to 1,248 points. This ended the two-day rally.
The market’s breadth was in a negative zone with 262 stocks declining, while 184 stocks inched up. However, liquidity improved compared to the previous session, of which matching value on the southern bourse increased by 1 per cent to over VNĐ10.1 trillion (US$431 million).
The index’s movement was due to risk-off sentiment with many big stocks facing a sell-off. The 30 biggest stocks tracker VN30-Index also finished lower at 1,272.48 points, a decrease of 3.12 points, or 0.24 per cent.
Data compiled by financial website vietstock.vn showed that realty, manufacturing and banking sectors influenced the market’s downside. Accordingly, Vinhomes (VHM) posted the worst performance, down 1.14 per cent. It was followed by Sabeco (SAB), Vietcombank (VCB), Masan Group (MSN), and Phát Đạt Real Estate Development JSC (PDR), down in a range of 0.63-3.36 per cent.
However, the index pared some losses on gains in other big ticker symbols. Of which, Vietinbank (CTG) was the biggest gainer on Tuesday, up 1.66 per cent. Other stocks that cushioned the bearish trend were PV Gas (GAS), Becamex (BCM), Vinamilk (VNM) and PV Drilling (PVD).
Similarly, the HNX-Index on the Hà Nội Stock Exchange (HNX) dropped by 1.49 points, or 0.53 per cent, to 281.59 points, marking its second losing session.
During the session, over VNĐ1.4 trillion worth of shares were traded on HNX, equivalent to a trading volume of 62.2 million shares.
Foreign investors were net sellers on the southern bourse after withdrawing VNĐ265.28 billion. However, they net bought VNĐ48.42 billion on HNX.
Source: VNS
Related News
ESG SERIES MASTERCLASS
Join the ESG Series Masterclass today and be a part of the solution led by our team of industry experts Bao Nguyen, Betty Pallard, Chi Nguyen, Jonathan SOURINTHA - HRK Group - PVA PRO - GPS (iBAG), Markus Klemmer, Paula Fajardo, Sergio Pereira da Silva along with many more to come…
VIETNAM’S GDP TO GROW 5.5% THIS YEAR – WB
This forecast is based on the assumption of a moderate recovery in manufacturing exports in 2024, fueled by rebound growth of 8.5% year-on-year in the fourth quarter of 2023 and 17.2% year-on-year in the first quarter of 2024, reflecting strengthening global demand, said Dorsati Madani, senior country economist at the WB in Vietnam.
FARE REFUND FOR VISA REJECTION
Cathay Pacific will offer full refunds for cases of visa rejection to provide you with the confidence to explore the world with ease. If you are planning to fly to a destination that requires an entry visa, you can now book with greater peace of mind.
MOIT PROPOSES SCHEME TO BOOST RENEWABLE ENERGY PROCUREMENT
The proposed Direct Power Purchase Agreement (DDPA) mechanism, outlined in the draft decree, targets organisations and individuals consuming electricity from the 22kV power grid or higher, with a monthly consumption averaging 500,000kWh. However, residential households are excluded from direct procurement.
REAL ESTATE BONDS PLACE PRESSURE ON ISSUING FIRMS
The ministry’s recent report underscores concerns within Vietnam’s corporate bond market for 2023 and 2024. It emphasizes the critical need to address hindrances to the real estate sector in line with the objectives provided in Government Resolution No. 33/NQ-CP, which aims to stabilize the industry.
FOUR COMMODITIES POST Q1 EXPORT VALUE OF OVER 5 BILLION USD
The total export turnover of agricultural, forestry, and fisheries products in the first three months of 2024 is estimated to reach 13.53 billion USD, an increase of 21.8% compared to the same period of 2023.