Weakening blue chips make VN-Index close in red

By Huong Dung
Fri, August 25, 2023 | 5:48 pm GMT+7

Vietnam’s benchmark VN-Index dropped 6.02 points, or 0.51%, to close at 1,183.37 on Friday as more than one third of blue chips declined.

The Ho Chi Minh Stock Exchange (HoSE), represented by the index, saw up to 331 losers and 173 gainers, with over 893 million shares changing hands for nearly VND20.3 trillion ($845.66 million), up 10% from the previous session. Cash flows continued to run into the finance, real estate and industry groups.

Blue chips were the main force dragging down the VN-Index as their VN30-Index lost 7.95 points to 1,193.93, with up to 23 tickers falling and only seven rising.

In the banking group, all large caps decreased. VCB of Vietcombank went down 0.92%, BID of BIDV 1.31%, CTG of VietinBank 1.89%, VPB of VPBank 1.46%, TCB of Techcombank 0.44%, MBB of MBBank 0.82%, STB of Sacombank 1.43%, and VIB of Vietnam International Bank 0.76%.

Securities stocks showed positive performance, with SSI of Saigon Securities up 0.63%, VND of VNDirect Securities 2.58%, VCI of Viet Capital Securities 0.58%, HCM of Ho Chi Minh City Securities 0.5%, and VIX of VIX Securities 1,96%.

The VN-Index dropped 6.02 points to close at 1,183.37 on August 25, 2023. Photo by The Investor/Trong Hieu.

The VN-Index dropped 6.02 points to close at 1,183.37 on August 25, 2023. Photo by The Investor/Trong Hieu.

Real estate tickers saw a divergence. While blue chips like VIC of conglomerate Vingroup, VHM of Vinhomes, VRE of Vincom Retail, and NVL of Novaland lost; DXG of Dat Xanh Group, CTD of Coteccons Construction JSC, DIG of DIG Corp. and SJS of Song Da Urban & Industrial Zone Investment & Development gained.

Notably, VCG of Vinaconex dropped over 2% on strong profit-taking pressure though the corporation is part of a consortium that has won a VND35 trillion ($1.49 billion) bidding package to build the terminal for Long Thanh International Airport in the southern province of Dong Nai.

Earlier, this code recorded many sessions of strong gains from VND20,000 ($0.83) to VND28,000 ($1.17) per share, the highest level since mid-April 2022.

Meanwhile, the tickers of three other members of the consortium (Vietur), namely PHC of Phuc Hung Holdings, CC1 of Construction Corporation 1, and HAN of Hanoi Construction Corporation strongly increased.

The green overwhelmed the manufacturing group, especially seafood stocks which skyrocketed following the news that China banned seafood imports from Japan. IDI of I.D.I International Development & Investment Corp. hit its ceiling price; VHC of Vinh Hoan Corp. increased 3.17%, ANV of Nam Viet Corp. 4.79%, and FMC of Sao Ta Foods 2.15%.

Foreign investors were net sellers on the HoSE to the tune of nearly VND850 billion ($35.4 million) after net buying VND200 billion ($8.33 million) in the previous session. They mainly net sold CTG, MWG of Mobile World, HPG of steel maker Hoa Phat, VPB, and DPM of Petrovietnam Fertilizer & Chemicals Corporation.

The HNX-Index at the Hanoi Stock Exchange went down 0.33 points to 242.9, while the UPCoM-Index at the Unlisted Public Companies Market inched up 0.16 points to 91.01.

Comments (0)
  • Read More
Central Vietnam province plans to build $2.4 bln LNG power plant from 2031

Central Vietnam province plans to build $2.4 bln LNG power plant from 2031

The 4,800-MW Chan May LNG power plant, with an investment of $2.4 billion, can be deployed in 2031-2035, according to Thua Thien Hue authorities.

Energy - Thu, November 21, 2024 | 10:41 pm GMT+7

Indonesia, France step up cooperation in economy, defence

Indonesia, France step up cooperation in economy, defence

Indonesian President Prabowo Subianto discussed economic and defence cooperation during a bilateral meeting on Tuesday with French President Emmanuel Macron on the sidelines of the G20 Summit in Rio de Janeiro, Brazil, Antara reported.

Southeast Asia - Thu, November 21, 2024 | 10:25 pm GMT+7

Thai economy to maintain upward momentum in 2025

Thai economy to maintain upward momentum in 2025

The National Economic and Social Development Council of Thailand (NESDC) expects the Thai economy to sustain its upward momentum in 2025 with a growth of 2.3-3.3% despite growing risks.

Southeast Asia - Thu, November 21, 2024 | 10:24 pm GMT+7

Former parliament chairman Vuong Dinh Hue warned for violations

Former parliament chairman Vuong Dinh Hue warned for violations

The Politburo, Vietnam's supreme decision making body, on Wednesday issued warnings to Vuong Dinh Hue, former Chairman of the National Assembly, and Nguyen Van The, former Minister of Transport, for violations while on duties.

Politics - Thu, November 21, 2024 | 10:10 pm GMT+7

Sumitomo insists on building LNG power plant in central Vietnam

Sumitomo insists on building LNG power plant in central Vietnam

Japanese trading house Sumitomo has been pushing for a liquefied natural gas (LNG)-fed power plant investment in Vietnam’s central province of Khanh Hoa.

Energy - Thu, November 21, 2024 | 8:53 pm GMT+7

Vietnam’s Vinhomes fulfils 67% of record buyback plan

Vietnam’s Vinhomes fulfils 67% of record buyback plan

Vinhomes, the housing development arm of conglomerate Vingroup, has purchased back 246.98 million shares, meeting 66.75% of the plan and accounting for 5.7% of the outstanding volume.

Finance - Thu, November 21, 2024 | 8:43 pm GMT+7

Vietnam high-speed railway should run beyond Hanoi, HCMC on either side: lawmakers

Vietnam high-speed railway should run beyond Hanoi, HCMC on either side: lawmakers

Vietnam’s mega North-South high-speed railway project should be redesigned and extended beyond Hanoi and Ho Chi Minh City as currently planned, several lawmakers have suggested.

Infrastructure - Thu, November 21, 2024 | 6:11 pm GMT+7

Vietnam-Malaysia relationship upgraded to comprehensive strategic partnership

Vietnam-Malaysia relationship upgraded to comprehensive strategic partnership

Vietnam and Malaysia have upgraded their relationship to a comprehensive strategic partnership, the highest level in the former’s diplomatic hierarchy.

Politics - Thu, November 21, 2024 | 5:21 pm GMT+7

Petrovietnam units sign LNG supply deal for trial run of Vietnam’s first LNG power plants

Petrovietnam units sign LNG supply deal for trial run of Vietnam’s first LNG power plants

PV Power and PV Gas, two units of state-owned Petrovietnam, have signed an LNG supply deal for trial operation of Nhon Trach 3 and Nhon Trach 4, Vietnam’s first LNG-to-power plants.

Energy - Thu, November 21, 2024 | 4:40 pm GMT+7

Sufficient first phase funds ensured for Vietnam’s new mega airport: transport minister

Sufficient first phase funds ensured for Vietnam’s new mega airport: transport minister

Minister of Transport Nguyen Van Thang affirmed Wednesday that funding would be secured for building the Long Thanh International Airport, set to become Vietnam’s biggest.

Infrastructure - Thu, November 21, 2024 | 3:53 pm GMT+7

Bamboo Capital wins kudos for transparent reports, good governance

Bamboo Capital wins kudos for transparent reports, good governance

Vietnamese private conglomerate Bamboo Capital Group has been honored as a Top 20 business with the Best Annual Report and the Best AGM Organization at the 2024 Vietnam Listed Company Awards (VLCA).

Bamboo Capital - Thu, November 21, 2024 | 3:37 pm GMT+7

VAFIE to organize workshop on amendments to horse racing, football betting rules

VAFIE to organize workshop on amendments to horse racing, football betting rules

The Vietnam’s Association of Foreign Invested Enterprises (VAFIE) and The Investor will organize a workshop on suggestions to amend the government’s Decree 06 on horse racing, greyhound racing and international football betting services.

Economy - Thu, November 21, 2024 | 2:38 pm GMT+7

Vietnam Politburo okays international, regional financial centers in HCMC, Danang

Vietnam Politburo okays international, regional financial centers in HCMC, Danang

Vietnam’s highest decision-making body, the Politburo, has greenlighted the establishment of an international financial center in Ho Chi Minh City and a regional financial center in the central city of Danang.

Economy - Thu, November 21, 2024 | 1:50 pm GMT+7

Singapore's Platinum Victory seeks to gain veto at Vietnam’s REE

Singapore's Platinum Victory seeks to gain veto at Vietnam’s REE

Singaporean fund Platinum Victory Pte. Ltd. has registered to buy more shares of Ho Chi Minh City-based utility firm Refrigeration Electrical Engineering Corporation (REE) to achieve the vetoing power in the latter.

Finance - Thu, November 21, 2024 | 11:29 am GMT+7

Posco keen on investing in Vietnam's $2.2 bln LNG power project

Posco keen on investing in Vietnam's $2.2 bln LNG power project

South Korea’s steelmaker Posco is eyeing to invest in the $2.2 billion Quynh Lap LNG-fired power plant project in Vietnam’s central province of Nghe An.

Energy - Thu, November 21, 2024 | 10:42 am GMT+7

Vietnam firm Hoa Lam to build $212 mln Aeon Mall in Mekong Delta

Vietnam firm Hoa Lam to build $212 mln Aeon Mall in Mekong Delta

The Mekong Delta city of Can Tho has accepted a subsidiary of private multi-sector Hoa Lam Group as the investor of the Aeon Mall Can Tho commerce and service center.

Industries - Thu, November 21, 2024 | 10:31 am GMT+7