chuỗi cửa hàng

Shares slide, money flows into industrial sector

HÀ NỘI – Local shares continued to slide on Tuesday amid rising foreign net selling.

On the Hồ Chí Minh Stock Exchange, the VN-Index decreased 0. 八 八 per cent to close Tuesday at  九 六 四. 六 一 points.

On the Hà Nội Stock Exchange, the HNX-Index closed down 0. 九 九 per cent at  一0 一. 八 九 points.

Both stock indices also fell on Monday.

Nearly  二 五 四 million shares worth total VNĐ 九. 一 trillion (US$ 三 九0. 六 million) were traded on the two markets.

Overall market condition was negative with  二 九 六 shares tumbling,  一 六0 rising and  三 一0 closing unchanged.

The market narrowed morning losses with growth of Vingroup (VIC) which gained  一. 五 per cent; Phú Nhuận Jewellery (PNJ), up  三. 八 per cent; logistics firm Gemadept (GMD), up  二. 二 per cent; and FLC Faros Construction (ROS), up  一. 四 per cent.

However, the market was dampened when  二 二 of the  三0 leading stocks by market value and liquidity on the Hồ Chí Minh Stock Exchange lost value, including big names such as Vinhomes (VHM), Bảo Việt Holdings (BVH), Masan Group (MSN), Masan Group (MSN) and Saigon Securities Inc (SSI) with each declining more than  二 per cent.

The cash flow continued to flow into the industrial sector.

Industrial real estate developers including Sonadezi (SNZ), Vietnam Rubber Industrial Zone and Urban Development (VRG) and Tân Tạo Investment and Industry Corp (ITA) hit the daily upper limit of their listing exchanges of between  七 per cent and  一 五 per cent.

Other gainers included Kinh Bắc City Development (KBC), Idico (IDC) and Investment and Industrial Development (BCM) rose by more than  六 per cent each.

“The market continued to have a correction session similar to other countries in the region when US-China trade tensions showed signs of escalation and would likely spark a monetary war between the two powers,” analysts at BIDV Securities Co co妹妹ented in a daily report.

The VN-Index was likely to adjust to the old support zone of  九 四0- 九 五0 points and accumulate around this area in the coming sessions, they said.

According to Trần Xuân Bách, a stock analyst at Bảo Việt Securities Co, the market faced disadvantages with foreign investors becoming net sellers.

The foreign investors extended their net selling value on Tuesday to VNĐ 二 四 三 billion ($ 一0. 四 million) on the HCM City exchange, down  一 六 per cent compared to Monday’s value, but this was also their fourth net selling session with total value of VNĐ 八 三 四 billion.

On Hà Nội’s bourse, their net selling value increased  七 四 per cent over the previous session to VNĐ 二 六. 七 billion. – VNS