Markets pulled down by banks
Shares were mixed on the two local exchanges on January 13, but market trading was disappointing as bank and energy stocks fell.
Investors take part in an auction at the Hanoi Stock Exchange (Photo: VNA)Hanoi (VNA) - Shares were mixed on the two local exchanges on January 13,
but market trading was disappointing as bank and energy stocks fell.
The benchmark VN Index on the Ho Chi Minh Stock Exchange dropped 0.3 percent to close at 685.06 points, extending losses for a second day.
The HNX Index on the Hanoi Stock Exchange, on the other hand, ended slightly up at 83.34 percent. The day before, the northern market index fell 0.2 percent.
Both indices finished the week higher than the previous one. The VN Index was up 0.8 percent and the HNX Index increased by 1.5 percent.
Market liquidity was modest with about 121.3 million shares being exchanged, worth 2.32 trillion VND (103 million USD).
The banking sector continued to perform poorly on January 13 with six of the nine listed banks suffering losses.
Among decliners, Vietcombank (VCB) and Sacombank (STB) lost 1.2 percent and 1 percent, while Asia Commercial Bank (ACB), MBBank (MBB), Vietinbank (CTG) and BIDV (BID) were down between 0.5 percent and 1.7 percent.
The insurance industry was driven down by Bao Viet Holdings (BVH) and Bao Minh Insurance Corp (BMI), which slipped 0.8 percent and 1.5 percent. BVH retreated from a two-day increase of 2.8 percent.
Energy stocks also struggled, with PetroVietnam Gas Corp (GAS), PetroVietnam Drilling and Well Services Corp (PVD) and PetroVietnam Technical Services Corp (PVS) losing 1.5 percent, 1.4 percent and 1.1 percent, respectively.
The decline of energy stocks came after global oil prices fell after two days of gains.
On the opposite side, real estate and construction firms and fertiliser producers helped lift the national stock market.
Vingroup (VIC) and Faros Construction Corp (ROS), two large-cap companies in the property and construction industry, rose 0.7 percent and 0.8 percent, respectively, while PetroVietnam Fertiliser and Chemical Corp (DPM) added 2.3 percent.
According to BIDV Securities Corp, the capital is moving from leading stocks to speculative ones.
The benchmark VN Index on the Ho Chi Minh Stock Exchange dropped 0.3 percent to close at 685.06 points, extending losses for a second day.
The HNX Index on the Hanoi Stock Exchange, on the other hand, ended slightly up at 83.34 percent. The day before, the northern market index fell 0.2 percent.
Both indices finished the week higher than the previous one. The VN Index was up 0.8 percent and the HNX Index increased by 1.5 percent.
Market liquidity was modest with about 121.3 million shares being exchanged, worth 2.32 trillion VND (103 million USD).
The banking sector continued to perform poorly on January 13 with six of the nine listed banks suffering losses.
Among decliners, Vietcombank (VCB) and Sacombank (STB) lost 1.2 percent and 1 percent, while Asia Commercial Bank (ACB), MBBank (MBB), Vietinbank (CTG) and BIDV (BID) were down between 0.5 percent and 1.7 percent.
The insurance industry was driven down by Bao Viet Holdings (BVH) and Bao Minh Insurance Corp (BMI), which slipped 0.8 percent and 1.5 percent. BVH retreated from a two-day increase of 2.8 percent.
Energy stocks also struggled, with PetroVietnam Gas Corp (GAS), PetroVietnam Drilling and Well Services Corp (PVD) and PetroVietnam Technical Services Corp (PVS) losing 1.5 percent, 1.4 percent and 1.1 percent, respectively.
The decline of energy stocks came after global oil prices fell after two days of gains.
On the opposite side, real estate and construction firms and fertiliser producers helped lift the national stock market.
Vingroup (VIC) and Faros Construction Corp (ROS), two large-cap companies in the property and construction industry, rose 0.7 percent and 0.8 percent, respectively, while PetroVietnam Fertiliser and Chemical Corp (DPM) added 2.3 percent.
According to BIDV Securities Corp, the capital is moving from leading stocks to speculative ones.
Market
trading may remain weak in the next sessions as investors are showing caution
ahead of the Tet (Lunar New Year) holiday. — VNA
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