Vietnam stocks slip as Asian shares subdued
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Vietnam’s benchmark VN-Index fell 0.59% to 1,268.21 points Thursday as other Asian markets were little changed.
The index closed 7.59 points lower after dropping 8.07 points in the previous session.
Trading on the Ho Chi Minh Stock Exchange increased by 6% to VND16.59 trillion (US$671 million).
GVR of Vietnam Rubber Group plunged 2.3%, followed by PLX of fuel distributor Petrolimex, down 2%.
FPT of IT giant FPT Corporation and MBB of lender MB both fell 1.8%.
Three blue chips gained, led by VHM of property giant Vinhomes, up 2.9%, and VIC of private conglomerate Vingroup, up 2.4%.
Foreign investors were net sellers to the tune of VND684 billion, mainly selling FPT and HPG of steelmaker Hoa Phat Group.
The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.50%, while the UPCoM-Index for the Unlisted Public Companies Market went down 0.30%.
Asian shares were subdued on Thursday, with Japanese stocks sliding to their lowest in three weeks as investors sought safety, pushing the yen to a one-month high while U.S. economic worries boosted prospects for the Federal Reserve to cut rates.
Amid the fragile sentiment, Japan’s benchmark Nikkei slid more than 1% to its lowest in three weeks, while stocks in tech-heavy Taiwan and South Korean stood slightly higher on the day, giving up earlier gains.
The MSCI’s broadest index of Asia-Pacific shares outside Japan up 0.25%, subdued after having tumbled nearly 3% during a three-day losing streak. The index had risen more than 0.6% but gave up those gains.
Questions & Answers
Q.Which specific stocks saw significant declines on the Ho Chi Minh Stock Exchange?
Which specific stocks saw significant declines on the Ho Chi Minh Stock Exchange?
GVR of Vietnam Rubber Group plunged by 2.3%, and PLX of fuel distributor Petrolimex fell by 2%. FPT of IT giant FPT Corporation and MBB of lender MB also both saw a 1.8% decrease in value.
Q.Were there any positive performers among the blue chips on the Vietnamese market?
Were there any positive performers among the blue chips on the Vietnamese market?
Yes, three blue-chip stocks gained during the session. VHM of property giant Vinhomes led with a 2.9% increase, followed by VIC of private conglomerate Vingroup, which was up 2.4%.
Q.What was the activity of foreign investors on the Vietnamese market?
What was the activity of foreign investors on the Vietnamese market?
Foreign investors were net sellers, offloading VND684 billion worth of shares. Their main sales included FPT and HPG of steelmaker Hoa Phat Group, indicating a cautious approach.
Q.How did other Asian markets perform compared to Vietnam?
How did other Asian markets perform compared to Vietnam?
Other Asian markets were generally subdued, with Japanese stocks sliding over 1% to a three-week low. Tech-heavy markets in Taiwan and South Korea were slightly higher, though they gave up earlier gains.
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