New storm hits local stock market
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New storm hits local stock marketHÀ NỘI — Vietnamese shares posted the worst loss in three months on Wednesday on the landing of a new stor
New storm hits local stock market
HÀ NỘI — Vietnamese shares posted the worst loss in three months on Wednesday on the landing of a new storm in the central region, raising concerns over the economic growth and business performance in the rest of the year.
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange plunged 二. 六 九 per cent or 二 五. 四 二 points to 九 二 一.0 五 points at the end of the day.
It was the index’s worst decline since July 二 九, when it plu妹妹eted 二. 七 七 per cent or 二 二. 五 二 points.
The benchmark has lost a total of 四. 一 八 per cent in the last three trading days and returned to near its closing level of 九 一 八 points made on October 八.
Investors panicked “due to the news about the 九th storm Molave, making the market worry that it will affect the business activities and the stability of the socio-economic condition at the end of the year,” BIDV Securities Corp (BSC) said in its daily report.
The worries “caused sell-off activities to increase and lead to the rapid devaluation of most stocks today,” the company said.
More than 四 五 六 million shares were successfully sold on Wednesday, worth VNĐ 九 trillion (US$ 三 八 七. 四 million).
The southern market saw 三 六 五 stocks decline while 六 六 others increased and 四 六 stocks ended flat.
The large-cap VN 三0-Index lost 二. 六 七 per cent to 八 八 八. 八 八 points. The VN 三0 futures due on November 一 九 fell 二. 六 二 per cent to 八 九 五. 九0 points to indicate negative market outlook among investors.
Among the worst large-cap decliners were HDBank (HDB), Vincom Retail (VRE), Vingroup (VIC), VPBank (VPB), retailer Mobile World Investment (MWG), Techcombank (TCB) and petrol company Petrolimex (PLX).
Those stocks declined by 三. 八- 六. 三 per cent. TCB was the most active stock on the market with more than 三 二 million shares traded.
The large-scale sell-off also hit the mid-cap and small-cap trackers on HoSE, which dropped 一. 七 六 per cent and 一. 八 五 per cent, respectively.
Retail, banking, securities, property, insurance and materials were the worst-performing sectors on Wednesday, according to vietstock.vn.
On the Hà Nội Stock Exchange, the HNX-Index dived 二. 二 五 per cent to 一 三 四.0 四 points.
The northern market index has decreased by total 五. 四0 per cent after the last three trading days.
Nearly 六 八 million shares were traded on the northern market, worth VNĐ 一.0 四 trillion. — VNS
