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Banking & Finance

November 5: Investor caution drags down indexes

Released at: 14:36, 05/11/2018 Stock Market Watch

November 5: Investor caution drags down indexes

Source: TVSI

VN-Index loses 0.83% in morning trade.

by My Van

The market opened on the first day of the new week amid investor caution, with the excitement seen at the end of last week evaporating.

By 10am the VN-Index had fallen 2.9 points (0.31 per cent) to 921.97 points, the HNX-Index 0.62 points (0.59 per cent) to 105.13 points, and the UPCoM-Index 0.1 points (0.17 per cent) to 51.65 points. Market liquidity was moderate, with a matching order value of over VND900 billion ($38.6 million).

Banking stocks lead the decline, such as ACB, BID, CTG, MBB, HDB and VCB.

While HAG, HSG, VRE, VHM, VHC, MPC and TCM increased, they did little to offset the falls.

Foreign net buying after consecutive days of net selling was one positive in the market.

The VN-Index had fallen 7.7 points (0.83 percent) to 917.16 points by the close of the morning session, the HNX-Index 1.39 points (1.31 per cent) to 104.36 points, and the UPCoM-Index 0.31 points (0.6 per cent) to 51.43 points. Decline in Asian markets also had a significant impact on domestic developments.

Despite the dips in the market, selling pressure was not too strong, with liquidity at a relatively low VND1.9 trillion ($81.5 million).

Stocks such as VRE, HSG, HNG, TCM, LDG, VHC, TNG, LHG, VIC and VCS rose; evidence that investor sentiment is not overly pessimistic. Foreigners were net buyers by approximately VND25 billion ($1.07 million).

VNM, GAS, BID, SAB and VCB contributed the most to the downtrend.

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