Gas shares deflate local markets
Both local bourses slid on July 20 as gas shares declined after
Vietnam Oil and Gas Group (PetroVietnam or PVN)'s leading position
changed.
Both local bourses slid on July 20 as gas shares declined after
Vietnam Oil and Gas Group (PetroVietnam or PVN)'s leading position
changed.
The decline in gas shares affected all other shares on the market, including bank and insurance shares, thus driving the market down.
Big gas shares such as Petrovietnam Gas Corporation (GAS), Petrovietnam Drilling and Well Service Corporation (PVD) on the southern bourse, Petroleum Technical Services Corporation (PVS) and Drilling Mud Corporation (PVC) on the northern market fell from their previous values.
However, market liquidity improved in comparison to July 18 with a total of 175.5 million shares traded on both markets, worth 2.76 trillion VND (128 million USD).
Both bourses declined with a total of 131 advancing codes, 259 declining ones and 276 flat ones.
On the Hochiminh Stock Exchange, the VN Index lost eight points or 1.29 percent to end at 620.54 points.
The fall in gas codes also shut down insurers' rises, such as BIDV Insurance Corporation (BIC), Bao Minh Insurance Corporation (BMI) and Bao Viet Holdings (BVH). BIC lost 5.77 percent while BVH dropped by 5.42 percent.
Vietinbank (CTG) was the only bank code that made gains yesterday, with an increase of 1.83 percent to end at 22,200 VND. Other banks recorded losses in their market values, such as the Bank for Investment and Development of Vietnam (BID) and Vietcombank (VCB), which fell 1.57 and 3.13 percent, respectively.
However, some securities shares and other shares such as Ocean Group Corporation (OGC) had positive performances.
Despite being tradable only in the afternoon, OGC was the most active code on the market with nearly 10 million shares traded. OGC also continued to hit the ceiling value, gaining 3.85 per cent at the end of the previous session.
Some large-cap securities shares recovered, helping prevent a deeper market descent. HCM City Securities Corporation (HCM) and Sai Gon Securities Incorporation (SSI) were up 0.8 percent and 0.77 percent at the end of the session.
On the Hanoi Stock Exchange, the HNX Index extended its loss by 1.31 percent to finish at 85.93 points.
Unlike the southern bourse, Hanoi continued its slump as all leading shares on the market slid compared with the previous day.
Bank shares and securities shares also fell, affecting the market.
Sai Gon-Hanoi Bank (SHB) was the most dynamic code on the market with more than 5 million of its shares traded. But SHB declined 3.33 percent.
Insurance codes declined the most among leading shares. PVI Holdings (PVI) and Post & Telecommunication Joint Stock Insurance Corporation (PTI) lost 9.22 and 8.29 percent to end at 19,700 VND and 17,700 VND per share.
Foreign investors returned to be net buyers, totaling 22.68 billion VND (1.05 million USD) while being recorded as net sellers on July 18 with a total value of 24.11 billion VND (1.11 million USD).-VNA
The decline in gas shares affected all other shares on the market, including bank and insurance shares, thus driving the market down.
Big gas shares such as Petrovietnam Gas Corporation (GAS), Petrovietnam Drilling and Well Service Corporation (PVD) on the southern bourse, Petroleum Technical Services Corporation (PVS) and Drilling Mud Corporation (PVC) on the northern market fell from their previous values.
However, market liquidity improved in comparison to July 18 with a total of 175.5 million shares traded on both markets, worth 2.76 trillion VND (128 million USD).
Both bourses declined with a total of 131 advancing codes, 259 declining ones and 276 flat ones.
On the Hochiminh Stock Exchange, the VN Index lost eight points or 1.29 percent to end at 620.54 points.
The fall in gas codes also shut down insurers' rises, such as BIDV Insurance Corporation (BIC), Bao Minh Insurance Corporation (BMI) and Bao Viet Holdings (BVH). BIC lost 5.77 percent while BVH dropped by 5.42 percent.
Vietinbank (CTG) was the only bank code that made gains yesterday, with an increase of 1.83 percent to end at 22,200 VND. Other banks recorded losses in their market values, such as the Bank for Investment and Development of Vietnam (BID) and Vietcombank (VCB), which fell 1.57 and 3.13 percent, respectively.
However, some securities shares and other shares such as Ocean Group Corporation (OGC) had positive performances.
Despite being tradable only in the afternoon, OGC was the most active code on the market with nearly 10 million shares traded. OGC also continued to hit the ceiling value, gaining 3.85 per cent at the end of the previous session.
Some large-cap securities shares recovered, helping prevent a deeper market descent. HCM City Securities Corporation (HCM) and Sai Gon Securities Incorporation (SSI) were up 0.8 percent and 0.77 percent at the end of the session.
On the Hanoi Stock Exchange, the HNX Index extended its loss by 1.31 percent to finish at 85.93 points.
Unlike the southern bourse, Hanoi continued its slump as all leading shares on the market slid compared with the previous day.
Bank shares and securities shares also fell, affecting the market.
Sai Gon-Hanoi Bank (SHB) was the most dynamic code on the market with more than 5 million of its shares traded. But SHB declined 3.33 percent.
Insurance codes declined the most among leading shares. PVI Holdings (PVI) and Post & Telecommunication Joint Stock Insurance Corporation (PTI) lost 9.22 and 8.29 percent to end at 19,700 VND and 17,700 VND per share.
Foreign investors returned to be net buyers, totaling 22.68 billion VND (1.05 million USD) while being recorded as net sellers on July 18 with a total value of 24.11 billion VND (1.11 million USD).-VNA
You should also see
📝 OP-ED: Party personnel work requires thorough checks
Officials, Party members, and people are concerned about how the Party will select the leadership capable of shouldering the immense revolutionary tasks entrusted by the history, General Secretary Nguyen Phu Trong said at the first meeting of the sub-committee on personnel affairs of the 14th National Party Congress on March 13.
See more
Business
Vietnam seeks to remove obstacles in upgrade of securities market
The State Securities Commission of Vietnam (SSC) recently held an online working session with the World Bank (WB) and the Asia Securities Industry and Financial Markets Association (ASIFMA) to discuss ways to remove obstacles related to criteria for upgrading the Vietnamese securities market.
Business
Ca Mau: Conference connects Vietnamese, Chinese firms
A networking conference was held in the Mekong Delta province of Ca Mau on April 24, in a bid to connect 54 local enterprises, mostly operating in the seafood sector, to their Chinese peers.
Business
Mining Vietnam 2024 opens in Hanoi
The 6th International Mining and Minerals Recovery Exhibition for Vietnam (Mining Vietnam 2024) kicked off in Hanoi on April 24.
Business
Standard Chartered revises down Vietnam’s GDP growth forecast in 2024 to 6%
Standard Chartered Bank has lowered Vietnam’s GDP growth forecast in 2024 to 6% from the previous 6.7% due to lower-than-expected Q1 growth and global trade headwinds.
Business
Auction for gold bullion to continue on April 25
Another bidding session for 16,800 taels of gold bullion will be held on April 25, the State Bank of Vietnam said in a statement.
