Wednesday, June 29 2022

VietNamNews

Shares decline further as profit-taking pressure rises

Update: March, 09/2022 - 06:54

 

Trucks carrying coal at a mining site of Vinacomin – Cọc Sáu Coal JSC (TC6). TC6 lost 6.08 per cent Tuesday. — Photo vinacomin.vn

HÀ NỘI - Shares dropped further on Tuesday due to the profit-taking pressuring multiple stock groups such as banking, oil and gas, steel, fertiliser, and coal.

The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) lost 0.69 per cent to close at 1,473.71 points.

The market’s breadth remained negative with 95 gainers and 370 losers.

Liquidity increased compared to Monday's session with more than 1 billion shares traded on the southern bourse, worth nearly VNĐ34.5 trillion (US$1.5 billion).

The benchmark lost ground as some pillar stocks suffered selling pressure. The VN30-index declined 1.26 per cent, to 1,490.17 points.

Six of HoSE’s 30 biggest stocks in market capitalisation in the VN30 basket increased, while 22 stocks declined and two stayed flat.

The banking group performed poorly and pressured the market with notable losers including Vietinbank (CTG), Tiên Phong Bank (TPB), Vietcombank (VCB), Military Bank (MBB), Sacombank (STB), Techcombank (TCB), Eximbank (EIB) and Bank for Investment and Development of Việt Nam (BID).

In the real estate group, many stocks plummeted such as C.E.O Group JSC (CEO) down 6.3 per cent, Investment and Construction Development Joint Stock Corporation (DIG) down 6 per cent and LDG Joint Stock Company (LDG) down 4.5 per cent.

Stocks that benefited from the rise of commodity prices such as fertiliser, steel, chemicals, oil and gas, and coal all reversed to decline.

Losers included Hoà Phát Group (HPG), Việt Nam National Petroleum Group (PLX), PetroVietnam Drilling and Well Services Corporation (PV Drilling or PVD), Vietnam Petroleum Construction Joint Stock Corporation (PVC), Petrochemical and Bio-Fuel JSC (PVB), Petro Việt Nam Cà Mau Fertiliser JSC (DCM), Petrovietnam Fertiliser & Chemicals Corporation (DPM), Bình Điền Fertiliser Joint Stock Company (BFC), Vinacomin - DeoNai Coal JSC (TDN) and Vinacomin – Cọc Sáu Coal JSC (TC6).

The HNX-Index on the Hà Nội Stock Exchange (HNX) finished lower, with a loss of 1.54 per cent, to 445.89 points.

Nearly VNĐ4.1 trillion worth of shares was traded on the northern market, equivalent to a trading volume of over 140 million shares. — VNS

 

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