VN stocks end lower on uncertainty over Trump
VN stocks end lower on uncertainty over Trump
Shares were volatile on the two local exchanges with low trading liquidity this morning as investors were cautious waiting for new policies from the next US president.
The benchmark VN Index on the HCM Stock Exchange fell slightly to close at 677.92 points and the HNX Index on the Ha Noi Stock Exchange inched down 0.1 per cent to end at 81.3 points.
The sectors that made gains on Thursday turned towards negative territory, including property, banking and brokerage businesses.
In the banking sector, Sai Gon-Ha Noi Bank (SHB) was the worst hit with a fall of 1.8 per cent, while the others declined between 0.3 per cent and 0.6 per cent each.
Real estate companies also fell. Vingroup JSC (VIC) edged down 0.7 per cent and Kinh Bac City Development Shareholding Corp (KBC) lost 0.6 per cent.
The largest securities firms also performed below expectations. Bao Viet Securities (BVS), HCM Securities (HCM) and Sai Gon Securities Inc (SSI) slid 0.6 per cent, 0.9 per cent and 0.7 per cent, respectively.
On the other hand, coal mining businesses, such as Vinacomin Deo Nai Coal JSC (TDN), Vinacomin Ha Lam Coal JSC (HLC) and Vinacomin Cao Son Coal JSC (TCS), reached their trading price limits as coal price in global trading increased 250 per cent since April.
Market trading liquidity was low with nearly 85 million shares being exchanged worth VND1.14 trillion (US$50.76 million).
According to some analysts, shares will remain volatile in the near future and the trend will remain unpredictable.
The new US president will not reveal his short-term plans until he officially takes assumes charge, so weak investor sentiment is expected to dominate Viet Nam’s stock market.
