Shares track declining global markets
Shares declined on sluggish trades on June 12, tracking tumbling global markets overnight.
Shares declined on sluggish trades on June 12, tracking tumbling global markets overnight.
The combined volume of trades on both of the nation's stock exchanges dropped to less than 29 percent of the June 11 level.
"Since last year, the level of correlation between the Vietnamese market and global markets has clearly increased," Kim Eng Securities Co analysts wrote in note on June 12.
The VN-Index has posted three consecutive declining sessions, typically not a good sign, they added.
"Technically, there are no signals coming from prices as the two indices are still trading below their resistance levels," they said.
On the HCM Stock Exchange on June 12, the VN-Index closed down by about 1 percent to 428.16 points and the value of trades reached only 838.4 billion VND (39.9 million USD) on a volume of just over 57 million shares.
Over 70 percent of codes closed unchanged, while 41 advanced and 45 declined, including most blue chips. However, Vietinbank (CTG) and property developer Hoang Anh Gia Lai (HAG) were able to buck the trend, gaining 0.5 and 0.4 percent, respectively.
The VN30 Index, tracking the city's 30 leading stocks in terms of capitalisation and liquidity, reached 506.49 points, a decline of 0.7 percent from the prior session.
On the Hanoi Stock Exchange, the HNX-Index shed 1.6 percent to close at 74.60. Over half of listed codes dropped points, while value shrank to a mere 458.2 billion VND (39.5 million USD) on a volume of only 43.45 million shares, respectively.
Bao Viet Securities Co analysts predicted that the European debt crisis can have significant adverse impacts on Vietnamese exports and flows of foreign investment.
Notable is that overall market capitalisation has increased recently with the listing of a number of new shares, but liquidity and indices have fallen.
"The increasing number of new and additional listings this year has actually been a barrier to the growth of the market," they commented. Nevertheless, they predicted that strong domestic investment will enable markets to rally this month. -VNA
The combined volume of trades on both of the nation's stock exchanges dropped to less than 29 percent of the June 11 level.
"Since last year, the level of correlation between the Vietnamese market and global markets has clearly increased," Kim Eng Securities Co analysts wrote in note on June 12.
The VN-Index has posted three consecutive declining sessions, typically not a good sign, they added.
"Technically, there are no signals coming from prices as the two indices are still trading below their resistance levels," they said.
On the HCM Stock Exchange on June 12, the VN-Index closed down by about 1 percent to 428.16 points and the value of trades reached only 838.4 billion VND (39.9 million USD) on a volume of just over 57 million shares.
Over 70 percent of codes closed unchanged, while 41 advanced and 45 declined, including most blue chips. However, Vietinbank (CTG) and property developer Hoang Anh Gia Lai (HAG) were able to buck the trend, gaining 0.5 and 0.4 percent, respectively.
The VN30 Index, tracking the city's 30 leading stocks in terms of capitalisation and liquidity, reached 506.49 points, a decline of 0.7 percent from the prior session.
On the Hanoi Stock Exchange, the HNX-Index shed 1.6 percent to close at 74.60. Over half of listed codes dropped points, while value shrank to a mere 458.2 billion VND (39.5 million USD) on a volume of only 43.45 million shares, respectively.
Bao Viet Securities Co analysts predicted that the European debt crisis can have significant adverse impacts on Vietnamese exports and flows of foreign investment.
Notable is that overall market capitalisation has increased recently with the listing of a number of new shares, but liquidity and indices have fallen.
"The increasing number of new and additional listings this year has actually been a barrier to the growth of the market," they commented. Nevertheless, they predicted that strong domestic investment will enable markets to rally this month. -VNA
You should also see
Vietnamese Deputy PM, Venezuelan President hold talks
Vietnamese Deputy Prime Minister Tran Luu Quang held talks with President of Venezuela Nicolás Maduro Moros in Caracas on April 18, as part of his ongoing official visit to the Latin American country.
See more
Business
Quang Ninh attracts additional 115 million USD from Japan investors
The Quang Ninh Economic Zone Authority (QEZA) presented investment certificates to two Japanese projects worth 115 million USD in total at a conference held at Song Khoai Industrial Park (IP) on April 19.
Business
Central bank plans to auction gold bars on April 22
The State Bank of Vietnam (SBV) will auction SJC-branded gold bars on April 22, a representative of the central bank said on April 19.
Business
Hanoi to host Vietnam Medipharm Expo 2024
The 31st Vietnam International Medical and Pharmaceutical Exhibition (Vietnam Medipharm Expo 2024) is scheduled to take place in Hanoi from May 9 to 12, an official of the Ministry of Health (MoH) told a press conference on April 19.
Business
Japan's Takashimaya plans to expand investment in Vietnam
Takashimaya, a Japanese operator of upscale department stores, plans to open a shopping centre in Hanoi in 2026 that will be the company's first new location abroad in eight years, Japanese newspaper Nikkei reported.
Business
Localities get ready for fourth FDI boom
As the year 2024 is expected to witness the start of the fourth wave of foreign direct investment (FDI) to Vietnam, localities nationwide are getting ready to absorb foreign capital flows.
