Market finishes the 2nd quarter on a negative note

Friday, Jun 30, 2023 17:40

PV Gas' worker checking an oil pipeline at the LNG Thi Vai project in Ba Ria - Vung Tau Province. The company's shares plummeted nearly 1.7 per cent yesterday. — Photo

Benchmark indices ended the last trading day of the second quarter on a negative note due to declining liquidity, while foreign investors injected capital for the third session in a row.

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index dropped another 5.21 points, or 0.46 per cent, to 1,120.18 points.

It lost nearly 13 points on Thursday on strong selling pressure after lower-than-expected GDP growth in the second quarter, said Saigon - Hanoi Stock Exchange (SHS).

GDP in the second quarter grew 4.14 per cent year-on-year, just better than the growth rate of the second quarter of 2020 during the period 2011-23, said the General Statistics Office (GSO) of Viet Nam.

The market’s breadth remained in negative territory as decliners outnumbered gainers on the southern bourse.

Liquidity was low, with a trading volume down to 617.5 million shares, worth more than VND12.62 trillion (US$535.1 million shares).

The VN30-Index also fell 2.16 points, or 0.19 per cent, to finish the day at 1,123.13 points. Nineteen stocks of the 30 biggest stocks on HoSE in the VN30 basket tumbled, while nine edged up and two ended flat.

The banking industry continued to lead the market’s downtrend.

Statistics from showed that Vietcombank (VCB) lost the most in market capitalisation on Friday, down 1.86 per cent.

Other popular banks posting big losses were BIDV (BID) down 2.58 per cent, Vietinbank (CTG) decreased 1.34 per cent, and Techcombank (TCB) down 0.92 per cent.

Also weighing on the sentiment, real estate, manufacturing, and gas and oil stocks posted poor performances. PV Gas (GAS), Vingroup (VIC), Vinamilk (VNM), and Vincom Retail (VRE) plunged by 0.74-1.69 per cent.

However, losses were capped by gains in some large-cap stocks, led by Hoa Phat Group (HPG) with an increase of 1.36 per cent.

Vietnam Rubber Group (GVR), Mobile World Investment Corporation (MWG), FPT Digital Retail JSC (FRT), and Gelex Group (GEX) all rose at least 1 per cent, with FRT hitting the maximum daily rise of 7 per cent.

On the Ha Noi Stock Exchange (HNX), the HNX-Index declined by 0.16 point, or 0.07 per cent, to 227.32 points.

During the session, investors poured VND1.26 trillion into the northern market, equal to a trading volume of nearly 69.7 million shares.

The market was also supported by foreign capital inflows. Specifically, foreign investors injected a net value of VND381.37 billion on HoSE and VND31.92 billion on HNX. — VNS

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