Shares drop at close of session
Shares lost gains at the end of June 2 session, pulled down by selling pressure in the afternoon.
Shares lost gains at the end of June 2 session, pulled down by selling pressure in the afternoon.
On the HCM Stock Exchange, the VN-Index slid from a three-month high to end the June 2 session at 570.31 points, off 0.81 percent from previous day's close.
Blue chips were the main losers, with the VN30 falling 0.84 percent to conclude at 588.63 points.
Bank stocks also retreated after many days of substantial gains except Vietcombank (VCB), that posted modest growth of 0.4 percent. Other big lenders including Eximbank (EIB), Vietinbank (CTG) and Sacombank (STB) dived around 3 percent, while Military Bank (MBB) and BIDV (BID) lost 2 percent and 1.4 percent, respectively.
"The market was largely backed by bank stocks on June 1. If you leave out this impact, the market is clearly undergoing a downward correction," analysts at Saigon-Hanoi Securities Co. wrote in a note.
These analysts said many sales orders were put below their reference prices, while intra-day trading of blue chips was less positive under high profit-taking pressure.
The market finished negative as losers outnumbered gainers by 147-67, while 89 closed flat.
The market volume was little higher than June 1, totaling nearly 124 million shares, while the value of trades increased 10 percent to reach more than 1.9 trillion VND (87.6 million USD).
Property developer FLC Group (FLC) continued to dominate trading in the HCM City market, with 15.4 million shares exchanged and a gain of 1.1 percent to finish the session at 9,100 VND. This figure far surpassed the second most active stock Saigon Securities Inc (SSI) at nearly 9 million shares.
On the Hanoi Stock Exchange, the HNX-Index also slipped 0.88 percent under profit taking pressure, finishing the session at 83.15 points.
The HNX30 also sank 0.65 percent to end at 158.02 points.
Speculation still buoyed trades as the market volume climbed 20 percent over June 1 to reach nearly 54 million shares, while the trading value rose 25 percent to 641 billion VND (29.5 million USD).
F.I.T Investment Co (FIT) was the most active code on June 2, with trades of 6.8 million shares. Its prices also jumped 3.5 percent to settle at 14,700 VND (0.68 USD).
Foreign investors extended their net buying streak on June 2, picking up shares worth a combined 158 billion VND (7.3 million USD) in the two markets.-VNA
On the HCM Stock Exchange, the VN-Index slid from a three-month high to end the June 2 session at 570.31 points, off 0.81 percent from previous day's close.
Blue chips were the main losers, with the VN30 falling 0.84 percent to conclude at 588.63 points.
Bank stocks also retreated after many days of substantial gains except Vietcombank (VCB), that posted modest growth of 0.4 percent. Other big lenders including Eximbank (EIB), Vietinbank (CTG) and Sacombank (STB) dived around 3 percent, while Military Bank (MBB) and BIDV (BID) lost 2 percent and 1.4 percent, respectively.
"The market was largely backed by bank stocks on June 1. If you leave out this impact, the market is clearly undergoing a downward correction," analysts at Saigon-Hanoi Securities Co. wrote in a note.
These analysts said many sales orders were put below their reference prices, while intra-day trading of blue chips was less positive under high profit-taking pressure.
The market finished negative as losers outnumbered gainers by 147-67, while 89 closed flat.
The market volume was little higher than June 1, totaling nearly 124 million shares, while the value of trades increased 10 percent to reach more than 1.9 trillion VND (87.6 million USD).
Property developer FLC Group (FLC) continued to dominate trading in the HCM City market, with 15.4 million shares exchanged and a gain of 1.1 percent to finish the session at 9,100 VND. This figure far surpassed the second most active stock Saigon Securities Inc (SSI) at nearly 9 million shares.
On the Hanoi Stock Exchange, the HNX-Index also slipped 0.88 percent under profit taking pressure, finishing the session at 83.15 points.
The HNX30 also sank 0.65 percent to end at 158.02 points.
Speculation still buoyed trades as the market volume climbed 20 percent over June 1 to reach nearly 54 million shares, while the trading value rose 25 percent to 641 billion VND (29.5 million USD).
F.I.T Investment Co (FIT) was the most active code on June 2, with trades of 6.8 million shares. Its prices also jumped 3.5 percent to settle at 14,700 VND (0.68 USD).
Foreign investors extended their net buying streak on June 2, picking up shares worth a combined 158 billion VND (7.3 million USD) in the two markets.-VNA
You should also see
Brand building for Vietnamese agricultural products needed to boost exports
Vietnam's agricultural development has gained many achievements in recent times, with seven commodities recording annual export turnover of over 3 billion USD, namely wood and wooden products, shrimp, coffee, rice, rubber, vegetables and fruits, and cashew nuts. These products are present in most of the world's major import markets such as the US, the European Union (EU) and Japan.
See more
Business
Central bank to resume gold bar bidding after 11 years
The State Bank of Vietnam (SBV) will resume gold bar bidding after 11 years, aiming to increase the supply of gold to the market, promptly and immediately settle the high difference in domestic and international gold prices, thus ensuring the gold market operates in a safe and stable, healthy, open, transparent and effective manner in accordance with the Prime Minister's direction.
Business
Hai Phong Techfest connects Vietnamese, RoK businesses
The Department of Science and Technology of the northern port city of Hai Phong is organising the International Techfest Connect 5+, a science and technology festival to promote connectivity in the northern coastal region, from April 15-16.
Business
Banks record positive business indicators in Q1 2024
Many banks have reported positive business indicators, especially credit growth, in the first quarter of this year.
Business
InfographicFour 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.
Business
Binh Duong sees vibrant investment cooperation at Horasis China Meeting
The Horasis China Meeting 2024, held in Binh Duong on April 15, witnessed a flurry of investment activities as the southern province granted in-principle approvals and investment certificates to multiple infrastructure, manufacturing, and real estate projects worth hundreds of millions of USD.
