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Indexes down as Vietnam follows global woes

Released at: 20:59, 06/02/2018 Stock Market Watch

Indexes down as Vietnam follows global woes

Source from vneconomy.vn

Second day of major falls hit stock market on February 6.

by Huyen Thanh

Like elsewhere around the world, Vietnam’s stock market had another difficult day’s trade on February 6, with the VN-Index losing more than 60 points, or 6 per cent; the most in recent years.

Bottom-fishing efforts towards the end of the day helped indexes cut their losses but the decline was still significant. The HNX-Index lost 3.31 points (2.78 per cent) to 115.64 points and UPCoM-Index 1.98 points (3.48 per cent) to 54.95 points.

The VN30-Index did slightly better, with HPG up 1.8 per cent, MSN 1.5 per cent, STB 1.7 per cent, and NVL 0.2 per cent.

Recent declines can be put down to a few factors. Global stock markets are seeing corrections, world oil prices were adjusted after rising quickly, the local stock market has been approaching the historic peak seen in 2007, securities companies are gradually tightening margins under new regulations from the State Securities Commission (SSC), and inflows of ETFs into the local stock market are not as strong as in the opening days of the year.

Market capitalization was down some VND132 trillion ($5.8 billion) today, for about $14 billion in the last two days, and now stands at VND3.61 trillion ($160 billion), or 73 per cent of GDP.

On HSX, VRE was the largest net bought share, with VND4.2 trillion ($184.9 million), followed by CII (VND87.5 billion ($3.8 million)), STB (VND54.2 billion ($2.4 million)), GEX (VND28.9 billion ($1.3 million)), and HCM (VND13.5 billion ($594,270)).

VIC was the largest net sold share on HSX, with VND126.9 billion ($5.6 million)), followed by VJC (VND110.6 billion ($4.8 million)), VNM (VND37.6 billion ($1.6 million)), DXG (VND24.4 billion ($1.07 million)), and BVH (VND17.6 billion ($774,887)).

INN was the largest net sold share on HNX, with VND1.6 billion ($44,400)), followed by WCS (VND635.1 million ($27,962)), CEO (VND634.1 million ($27,912)), PGS (VND622.4 million ($27,397)), and PLC (VND610.4 million ($26,869)).

On UPCoM, foreign investors bought 289,115 shares worth VND23.26 billion ($1 million).

They net bought on HSX by VND4.1 trillion ($180.5 billion) and on HNX by VND96.05 billion ($4.2 million).

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