Illustrative image (Source: VNA) Hanoi (VNA) - Vietnamese sharesdeclined on January 1 as the market reversed quickly at the end of the tradingsession and especially during the ATC session, dragged down by blue chips inthe banking and energy sectors.
The benchmark VN-Index on the HCM StockExchange started the day by increasing almost 15 points, but ended up innegative territory, edging down by nearly 10.7 points or 0.96 percent to closeat 1,099.67 points.
It had inched down 0.02 percent to close at1,110.36 points on the previous day.
The minor HNX Index on the Hanoi StockExchange dropped 2.18 percent to end at 123.15 points.
The northern market index dropped 1.15 percentto end at 125.90 points on Wednesday.
The UPCOM Index on the Unlisted PublicCompany Market (UPCoM) lost 0.45 percent to finish at 59.19 points, retreatingfrom a fall of 0.91 percent in the previous session.
More than 403.4 million shares were tradedon the three local exchanges, worth 9.34 trillion VND (415 million USD).
Declining stocks outnumbered the gainingones by 432 to 234, while 140 other stocks ended flat.
Large-cap stocks underperformed, as 20 ofthe 30 largest stocks by market capitalisation in the VN30 Index suffered,pulling the large-cap index down 0.82 percent to 1,086.90 points.
Among the worst decliners in the VN30basket included Bao Viet Holdings (BVH), down 4.3 percent; Hoa Phat Group JointStock Company (HPG), dipping 2.1 percent; Vietnam Dairy Products Joint StockCompany (VNM), declining 0.2 percent; as well as Saigon Beer-Alcohol-BeverageCorporation (SAB), decreasing 0.8 percent.
Banking and energy stocks alsounderperformed.
Booming stocks in the banking sector, suchas the Bank for Investment and Development of Vietnam (BID), Vietnam ProsperityJoint Stock Commercial Bank (VPB) and Military Commercial Joint Stock Bank(MBB), were down 1.5 percent, 2.1 percent and 3.8 percent, respectively.
The energy sector was driven down byPetroVietnam Gas Joint Stock Corporation (GAS), PetroVietnam Technical ServicesCorporation (PVS) and PetroVietnam Drilling Mud Joint Stock Corporation (PVD),down 1.9, 8.3 and 6.9 percent, respectively.
Many large-cap stocks in the UnlistedPublic Company Market (UPCoM) suffered strong selling pressure, includingAirports Corporation of Vietnam (ACV), down 5.5 percent, Vietnam Airlines JSC(HVN), losing 10.3 percent, Lien Viet Post Joint Stock Commercial Bank (LBP),dropping 4.2 percent and Masan Resources Corporation (MSR), decreasing 10 percent.
According to BIDV Securities JSC (BSC), themarket may continue to fluctuate strongly as lower prices will lure investors.
“Investors should limit their participationin short-term trading during this time when the risk is being pushed up to highlevels,” BSC said in its daily report.-VNA
The benchmark VN-Index on the HCM StockExchange started the day by increasing almost 15 points, but ended up innegative territory, edging down by nearly 10.7 points or 0.96 percent to closeat 1,099.67 points.
It had inched down 0.02 percent to close at1,110.36 points on the previous day.
The minor HNX Index on the Hanoi StockExchange dropped 2.18 percent to end at 123.15 points.
The northern market index dropped 1.15 percentto end at 125.90 points on Wednesday.
The UPCOM Index on the Unlisted PublicCompany Market (UPCoM) lost 0.45 percent to finish at 59.19 points, retreatingfrom a fall of 0.91 percent in the previous session.
More than 403.4 million shares were tradedon the three local exchanges, worth 9.34 trillion VND (415 million USD).
Declining stocks outnumbered the gainingones by 432 to 234, while 140 other stocks ended flat.
Large-cap stocks underperformed, as 20 ofthe 30 largest stocks by market capitalisation in the VN30 Index suffered,pulling the large-cap index down 0.82 percent to 1,086.90 points.
Among the worst decliners in the VN30basket included Bao Viet Holdings (BVH), down 4.3 percent; Hoa Phat Group JointStock Company (HPG), dipping 2.1 percent; Vietnam Dairy Products Joint StockCompany (VNM), declining 0.2 percent; as well as Saigon Beer-Alcohol-BeverageCorporation (SAB), decreasing 0.8 percent.
Banking and energy stocks alsounderperformed.
Booming stocks in the banking sector, suchas the Bank for Investment and Development of Vietnam (BID), Vietnam ProsperityJoint Stock Commercial Bank (VPB) and Military Commercial Joint Stock Bank(MBB), were down 1.5 percent, 2.1 percent and 3.8 percent, respectively.
The energy sector was driven down byPetroVietnam Gas Joint Stock Corporation (GAS), PetroVietnam Technical ServicesCorporation (PVS) and PetroVietnam Drilling Mud Joint Stock Corporation (PVD),down 1.9, 8.3 and 6.9 percent, respectively.
Many large-cap stocks in the UnlistedPublic Company Market (UPCoM) suffered strong selling pressure, includingAirports Corporation of Vietnam (ACV), down 5.5 percent, Vietnam Airlines JSC(HVN), losing 10.3 percent, Lien Viet Post Joint Stock Commercial Bank (LBP),dropping 4.2 percent and Masan Resources Corporation (MSR), decreasing 10 percent.
According to BIDV Securities JSC (BSC), themarket may continue to fluctuate strongly as lower prices will lure investors.
“Investors should limit their participationin short-term trading during this time when the risk is being pushed up to highlevels,” BSC said in its daily report.-VNA
VNA
