VN stocks keep sliding, but positive signals up

February 04, 2020 | 15:22

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Vietnamese shares continued sliding on Tuesday morning, but showed positive signals as investors calmed down after the coronavirus damaged the market over the previous three days.

vn stocks keep sliding but positive signals up

An investor watches stocks. Vietnamese shares traded better on Tuesday morning as investors calmed.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange edged down 0.28 per cent to end at 925.53 points.

The VN-Index had lost a total of 6.38 per cent in the previous three trading days.

More than 105 million shares were traded on the southern bourse, worth VND1.95 trillion (US$83.8 million).

The VN-Index performed better on Tuesday morning than the previous days as investors turned positive from the fear that the coronavirus would bring severe damage to the economy.

Financials – including banks, brokerages and insurers, technology, utilities sectors performed well in the morning session.

According to securities companies, coronavirus would not have a big impact on those sectors.

On the contrary, retail, property development, agriculture and aquaculture, food and beverage, seafood processing and transportation and logistics were among the worst-performing sectors.

Those would be the ones that are predicted to suffer as global economic growth would be pulled down by the disease.

Pharmaceutical stocks declined after they had recorded strong gains in the previous sessions.

On the Ha Noi Stock Exchange, the HNX-Index was up 0.32 per cent to close at 101.64 points.

The northern market index had plunged a total of 4.67 per cent in the previous three days.

More than 19 million shares were traded on the northern bourse, worth VND188 billion.

The afternoon trading session starts at 1pm.

VNA

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