Illustrative image (Photo: VNA) Hanoi (VNA) – Vietnam’s benchmark VN Indexon the HCM Stock Exchange fell on June 2, dragged by weak investor confidence andsliding oil prices.
The benchmark index on the HCM Stock Exchangedropped 0.40 percent to close at 738.81 points, retreating from a gain of 0.5percent on June 1. It posted a weekly loss of 0.6 percent.
Market trading liquidity increased from June 1’snumbers, with more than 184.5 million shares exchanged on June 2 in thesouthern market, worth 4.42 trillion VND (196.8 million USD).
Large-cap stocks underperformed, with 18 of the 30largest companies by market capitalisation declining and three others endingflat.
Declining large-cap stocks included Sacombank(STB), steel makers Hoa Sen Group (HSG) and Hoa Phat Group (HPG), dairyproducer Vinamilk (VNM) and FLC Faros Construction (ROS).
Among those stocks, STB lost 2 percent and VNMedged down 0.7 percent after they made gains of 1.2 percent and 1.5 percent onJune 1.
ROS slumped 6.4 percent on profit-taking after itincreased by a total of 4.8 percent in the previous six-day period.
Energy stocks like PetroVietnam Gas (GAS) andPetroVietnam Drilling and Well Services (PVD) were pushed down as crude pricesdropped.
Brent crude was down 2.4 percent to trade at 49.44USD a barrel. The benchmark has dropped more than 5.4 percent in the last foursessions.
On the positive side, shares of brokerages recordedgood gains, with Sai Gon Securities (SSI) and HCM City Securities (HCM) jumping3.6 percent and 6.8 percent, respectively.
According to Sai Gon-Ha Noi Securities (SHS), theVN Index has ended a five-week rally, as investors made efforts to earn profitsafter the benchmark index jumped to its nine-year high near 750 points.
Investors have turned cautious as they wait forsignals of improvement from the stock market, SHS said in its report, addingthat the VN Index is now settling in the narrow range of 735-742 points, giventhe fact that the index has moved narrowly in this range for the last threesessions.
Meanwhile, the HNX Index on the Hanoi StockExchange rose 0.40 percent to end at 94.36 points. The northern market indexhas gained total 1.2 percent after the last three trading days and posted aweekly gain of 0.7 percent.
More than 65.7 million shares were traded on thenorthern bourse, worth 630.2 billion VND, an increase in both trading volumeand value compared to June 1.-VNA
The benchmark index on the HCM Stock Exchangedropped 0.40 percent to close at 738.81 points, retreating from a gain of 0.5percent on June 1. It posted a weekly loss of 0.6 percent.
Market trading liquidity increased from June 1’snumbers, with more than 184.5 million shares exchanged on June 2 in thesouthern market, worth 4.42 trillion VND (196.8 million USD).
Large-cap stocks underperformed, with 18 of the 30largest companies by market capitalisation declining and three others endingflat.
Declining large-cap stocks included Sacombank(STB), steel makers Hoa Sen Group (HSG) and Hoa Phat Group (HPG), dairyproducer Vinamilk (VNM) and FLC Faros Construction (ROS).
Among those stocks, STB lost 2 percent and VNMedged down 0.7 percent after they made gains of 1.2 percent and 1.5 percent onJune 1.
ROS slumped 6.4 percent on profit-taking after itincreased by a total of 4.8 percent in the previous six-day period.
Energy stocks like PetroVietnam Gas (GAS) andPetroVietnam Drilling and Well Services (PVD) were pushed down as crude pricesdropped.
Brent crude was down 2.4 percent to trade at 49.44USD a barrel. The benchmark has dropped more than 5.4 percent in the last foursessions.
On the positive side, shares of brokerages recordedgood gains, with Sai Gon Securities (SSI) and HCM City Securities (HCM) jumping3.6 percent and 6.8 percent, respectively.
According to Sai Gon-Ha Noi Securities (SHS), theVN Index has ended a five-week rally, as investors made efforts to earn profitsafter the benchmark index jumped to its nine-year high near 750 points.
Investors have turned cautious as they wait forsignals of improvement from the stock market, SHS said in its report, addingthat the VN Index is now settling in the narrow range of 735-742 points, giventhe fact that the index has moved narrowly in this range for the last threesessions.
Meanwhile, the HNX Index on the Hanoi StockExchange rose 0.40 percent to end at 94.36 points. The northern market indexhas gained total 1.2 percent after the last three trading days and posted aweekly gain of 0.7 percent.
More than 65.7 million shares were traded on thenorthern bourse, worth 630.2 billion VND, an increase in both trading volumeand value compared to June 1.-VNA
VNA
