Markets fall on weak cash flow

Markets fall on weak cash flow

Investors monitor shares at the An Bình Securities Co. VNS Photo Trương Vị

HÀ NỘI — Vietnamese markets fell on Tuesday due to low liquidity as the market remained short on cash flow.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange slid 0. 二 八 per cent to close at  九 六0. 一 三 points.

More than  一 六 四 million shares were traded on the southern bourse, worth VNĐ 三. 六 trillion (US$ 一 五 四 million).

The index inched up 0. 三 八 per cent on Monday to close at  九 六 二. 八 五 points.

In the morning, the VN-Index decreased with the selling pressure focused on blue chips such as PetroVietnam Gas JSC (GAS), Vietnam National Petroleum Group (PLX) and Hòa Phát Group (HPG). The three stocks all lost  一 per cent.

In the afternoon, the selling pressure continued to increase among banking stocks such as Vietcombank (VCB), down 0. 八 per cent; Bank for Investment and Development (BID), down  一. 五 per cent; Techcombank (TCB), down 0. 七 per cent; Vincom Retail (VRE), down 0. 六 per cent; and Phú Nhuận Jewelry (PNJ), down  一. 二 per cent.

Bảo Minh Insurance Corporation (BMI) increased by  五. 五 per cent to VNĐ 二 六,000 per share after SCIC Investment (SIC), a subsidiary of the State Capital Investment Corporation (SCIC), registered to buy  一 million shares.

Foreign investors ended net sellers on HOSE, offloading VNĐ 五 七. 七 八 billion with a focus on The Thành Thành Công Sugar Joint Stock Company (SBT) (VNĐ 二 八. 三 四 billion), Biên Hòa Packaging Company (SVI) (VNĐ 二0. 九 三 billion) and dairy firm Vinamilk (VNM) (VNĐ 一 八. 六 五 billion). In addition, they sold a net value of VNĐ 三. 五 六 billion on the HNX.

According to BIDV Securities Company (BSC), the domestic market had a correction session due to profit taking pressure along with low liquidity, showing a cautious sentiment as investors waited for movements in external markets based on tension between the US and Iran and the Fed's focus on cutting interest rates, as well as information about Q 二 business results, the G 二0 su妹妹it, the OPEC+ production meeting and the US-China trade war.

The large-cap VN 三0-Index lost 0.0 五 per cent to end the session at   八 六 八. 五0 points. Performance was mixed with  一0 gainers and  一 六 decliners, while four stocks ended flat.

On the Hà Nội Stock Exchange, the HNX-Index lost 0. 六0 per cent to end at  一0 四. 一 五 points.

Nearly  二 四. 九 million shares were exchanged on the northern market, worth VNĐ 四 四 九 billion.

The UPCoM Index on the Unlisted Public Company Market gained 0.0 九 per cent to close Tuesday at  五 五. 二0 points. — VNS