Gold, global worries drag on shares
The Vietnamese stock exchange on Aug. 9 was unable to resist global
trends, with the VN-Index plunging by 2.2 percent from the previous day
to close at 387.70 and most listed shares on the Ho Chi Minh Stock
Exchange shedding value.
The Vietnamese stock exchange on Aug. 9 was unable to resist global
trends, with the VN-Index plunging by 2.2 percent from the previous day
to close at 387.70 and most listed shares on the Ho Chi Minh Stock
Exchange shedding value.
The value of trades climbed 43.6 percent over Aug. 8 level, however, to 664.5 billion VND (32.3 million USD), while market volume jumped 67.6 percent to 41.4 million shares.
Foreign investors were net buyers on both bourses by a combined net of 87.7 billion VND (4.3 million USD). As Dragon Capital fund announced its intention to sell its entire stake in Sacombank (STB), foreign investors yesterday bought up a total of nearly 5.4 million STB shares, worth over 81 billion VND (3.9 million USD).
"Sacombank also contributed about 30 percent of market value, making it the most heavily traded code on the exchange with nearly 8.5 million shares traded," said StoxPlus Financial Media Co analyst Dang Anh. "Up to 70 percent of transactions were due to sellers actively matching orders."
The Vietnamese stock market has already been experiencing a gloomy period, and now it is feeling the impact from global markets and the spike in gold prices, Anh noted.
Domestic gold prices earlier in the day soared to 46 million VND (2,200 USD) per tael. To cool down the market, the central bank quickly announced that it would allow imports of gold bullion, and gold price eased down by about 1.4 million VND (68 USD) per tael by the afternoon.
On the Hanoi Stock Exchange, the HNX-Index plunged by 2.5 percent to close at 65.63 points, with losers outnumbering gainers by 265-25.
The value of trades surged by 68.7 percent, however, reaching 385.8 billion VND (18.7 million USD) on a volume of 36.5 million shares.
Kim Long Securities Co (KLS) was the most-active share, with about 4.5 million changing hands, and PetroVietnam Construction Co (PVX) followed with a volume of 3.5 million shares./.
The value of trades climbed 43.6 percent over Aug. 8 level, however, to 664.5 billion VND (32.3 million USD), while market volume jumped 67.6 percent to 41.4 million shares.
Foreign investors were net buyers on both bourses by a combined net of 87.7 billion VND (4.3 million USD). As Dragon Capital fund announced its intention to sell its entire stake in Sacombank (STB), foreign investors yesterday bought up a total of nearly 5.4 million STB shares, worth over 81 billion VND (3.9 million USD).
"Sacombank also contributed about 30 percent of market value, making it the most heavily traded code on the exchange with nearly 8.5 million shares traded," said StoxPlus Financial Media Co analyst Dang Anh. "Up to 70 percent of transactions were due to sellers actively matching orders."
The Vietnamese stock market has already been experiencing a gloomy period, and now it is feeling the impact from global markets and the spike in gold prices, Anh noted.
Domestic gold prices earlier in the day soared to 46 million VND (2,200 USD) per tael. To cool down the market, the central bank quickly announced that it would allow imports of gold bullion, and gold price eased down by about 1.4 million VND (68 USD) per tael by the afternoon.
On the Hanoi Stock Exchange, the HNX-Index plunged by 2.5 percent to close at 65.63 points, with losers outnumbering gainers by 265-25.
The value of trades surged by 68.7 percent, however, reaching 385.8 billion VND (18.7 million USD) on a volume of 36.5 million shares.
Kim Long Securities Co (KLS) was the most-active share, with about 4.5 million changing hands, and PetroVietnam Construction Co (PVX) followed with a volume of 3.5 million shares./.
You should also see
Vuong Dinh Hue permitted to cease holding positions, working
The 13th Party Central Committee on April 26 agreed to let Vuong Dinh Hue cease holding the positions of Politburo member, member of the 13th Party Central Committee, and Chairman of the 15th National Assembly (NA) in the 2021 - 2026 tenure.
See more
Business
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pook of both domestic and international investors for socio-economic development.
Business
Vietnam’s rice exports may exceed 2024 target
With positive results recorded so far, Vietnam can exceed its target of 7.6 million tonnes in rice export volume set for 2024, Nguyen Ngoc Nam, Chairman of the Vietnam Food Association, said at a conference in the Mekong Delta city of Can Tho on April 26.
Business
Ample room for Quang Ninh to attract FDI
The northeastern province of Quang Ninh has ample room to attract foreign direct investment (FDI) and realise the goal of attracting 3 billion USD in FDI this year and 10 billion USD in the 2020-2025 period.
Business
Long An, Dong Nai introduce strengths in RoK
The southern province of Long An and Dong Nai introduced their investment climate as well as socio-economic development orientations at an investment promotion conference held in the Republic of Korea (RoK) on April 26.
Business
Vietnam makes initial efforts to approach creative industries: CIEM
Vietnam has made initial efforts to approach creative industries and services, particularly a policy framework related to creative economy development, according to a new report released by the Central Institute for Economic Management (CIEM).
