Shares extend losses on weak China growth
Shares extend losses on weak China growth
Following negative movements on global markets, Vietnamese shares extended their losses on Friday. 
The benchmark VN-Index on the Ho Chi Minh Stock Exchange slid 0.06 per cent to close at 989.20 points.
Nearly 175 million shares were traded on the southern bourse, worth VND3.54 trillion (US$151.3 million).
The VN-Index lost 0.47 per cent to close Thursday at 989.82 points.
China's third-quarter GDP growth fell to its lowest level in nearly three decades on Friday, negatively affecting investor sentiment.
Main European bourses fell a modest 0.1 per cent-0.3 per cent after Asia had been led lower by a 1.2 per cent slump in top Chinese shares.
Dragging the market down on Friday were the securities, banking, oil and gas, construction materials, logistics, insurance, rubber production, wholesale and securities sectors.
The sector indices fell between 0.06 per cent and 1.18 per cent, data on vietstock.vn showed.
On Friday, blue-chips, including Bank for Investment and Development (BID), Saigon Securities Incorporation (SSI), Masan Group (MSN) and Vietinbank (CTG), faced adjustment pressure, falling by over 1 per cent.
The banking group had nine losers and five gainers. Among the nine losers, five declined by more than 1 per cent, namely Bank for Investment and Development (BID), Vietinbank (CTG), Asia Commercial Bank (ACB) and Saigon-Hanoi Bank (SHB).
Foreign investors bought net of VND40.86 billion on the HOSE, including Vinamilk (VNM) (VND57.06 billion), Vietcombank (VCB) (VND18.99 billion) and Kinh Bac City Development Share Holding Corporation (KBC) (VND6.15 billion).
VN-Index stocks with the largest losses this week were Bank for Investment and Development (BID), Masan Group (MSN) and Vietinbank (CTG).
The best performers included Vinamilk (VNM), Vinhomes (VHM) and Viet Nam National Petroleum Group (PLX).
On the Ha Noi Stock Exchange, the HNX-Index edged down 0.55 per cent to end Friday at 105.48 points.
More than 26.3 million shares were traded on the northern market, worth VND311 billion.
The northern market index edged up 0.13 per cent to end Thursday at 106.07 points.
According to Bao Viet Securities Company (BVSC), the market would continue moving sideways next week.
“The VN-Index is expected to fluctuate between 987 and 998 points. The market will continue to experience a wide divergence among stock sectors, depending on Q3 business results,” BVSC said.
VN-30 stocks are expected to experience significant fluctuations as they go through Q3 portfolio reviews in late October.
“We forecast the following sectors will achieve positive profits in Q3, including banks, real estate, electricity, natural rubber and tire rubber. Besides, several stocks in the VN30 such as Vinamilk (VNM), Masan Group (MSN) and Viejet Air (VJC) are also expected to increase and support the market next week.
