HoSE witnessed a dominant number of declining stocks, but the VN-Index managed to hold on to the 1,230-point threshold. The benchmark index showed a significant recovery before entering the ATC session, with VCB’s contribution of 2.3 points being a crucial factor in bolstering the market’s rebound.
Another bank stock that stood out was NAB, which surged to its daily limit after being added to the MSCI Frontier Market Index. This is one of the most prominent indices tracking frontier markets by MSCI. Along with NAB, BWE has also been included in this index basket.
VN30 basket witnessed a dominant red sentiment.
Towards the end of the session, several blue-chip stocks narrowed their losses, easing the pressure on the market. Earlier in the morning session, large-cap stocks had shown collective weakness. The real estate group outperformed the broader market, with PDR, TCH, DIG, CEO, NVL, VRE, and DXG ending in the green.
Notably, DIG reversed its course and posted a slight gain of 0.4% despite being subject to forced selling by securities companies. Mirae Asset Securities announced that it would sell 4.7 million DIG shares of Mr. Nguyen Thien Tuan, Chairman of the Board of Directors of DIG, from August 12, until the collateral ratio meets the regulations on margin trading. On August 12, Mirae Asset sold more than 2.95 million DIG shares in matched orders.
Shinhan Securities Vietnam also registered to sell 2.48 million DIG shares of Mr. Tuan. On August 12, the matched volume reached 2.36 million units. In just one day, more than 5.3 million DIG shares were sold in forced liquidation after the sudden passing of Mr. Tuan.
On the other hand, selling pressure persisted and dominated many large-cap stocks such as HPG, GAS, and TCB. Indices representing various sectors like technology, construction, materials, securities, and insurance retreated. Meanwhile, some penny stocks unexpectedly attracted buyers, with QCG and DLG closing at the ceiling price.
At the market close, the VN-Index rose 0.14 points (0.01%) to 1,230.42 points. The HNX-Index decreased by 0.59 points (0.26%) to 230.18 points, while the UPCoM-Index dropped by 0.21 points (0.23%) to 92.79 points.
79 stocks removed from margin trading list on HoSE
The Ho Chi Minh Stock Exchange (HoSE) has updated the list of securities ineligible for margin trading. Among them, HoSE added NT2 shares of Nhon Trach 2 Oil Power JSC as the company’s audited semi-annual financial statements for 2024 showed negative after-tax profit.
“DPM’s Profits Vanish Into Thin Air, Accounting for Over 90% in 2023”
“DPM, the industry leader, achieved a remarkable feat by generating a profit post-tax of over 90% in 2023, marking its lowest net earnings since 2019.”
LandX Services reports a loss of 160 billion VND in 2023, cuts over 1,000 staff
In 2023, Dat Xanh Services incurred a net loss of 160 billion VND primarily due to a shortfall in real estate service revenue. Additionally, the company downsized its workforce by over 1,000 employees in the past year.
Investing in a volatile market: Should beginners consider putting money into high-yield bonds for 10-30% yearly profit?
Short-term stock market trading has proven to be a risky venture for many investors, leading to substantial losses. However, there are a few select open funds that have managed to achieve impressive returns, reaching up to 30%.
