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Unlike the previous trading day, investor caution caused the VN-Index to fall right from the start of the session. Accordingly, at the close of the morning session, the VN-Index stood at 765,1 points, down 5,62 points, equivalent to a 0,7% loss. Across the entire exchange, 211 stocks declined, with 4 hitting their lower limit. Trading volume reached 125 million units, with liquidity exceeding 2.000 billion VND.
PVOil shares plummeted after news of a 530 billion VND loss in the first quarter was announced.
Most stocks in the VN30 basket closed in the red. Vincom Retail's VRE was the biggest loser, falling 950 dong per share to 22.550 dong/share, a drop of 4,04%. Another stock in the Vingroup family, VIC, also fell 0,4% to 91.000 dong/share.
In contrast to VRE and VIC, another stock, VHM of Vinhomes, rose 0,6% to VND 64.900. This was due to VHM's recent announcement of extremely impressive Q1 2020 business results. The real estate brand, in which Vingroup Group holds over 70% ownership, achieved pre-tax and after-tax profits of VND 10.124 billion and VND 7.654 billion respectively.
This morning, the VN30 index also saw a sharp decline in oil and gas stocks. PLX lost 2,4% to 39.250 VND/share. GAS is trading at 62.800 VND/share, down 2,2%.
Similarly, after announcing a business loss of 530 billion VND in the first quarter, the stock code of Vietnam Oil Corporation (PVOil) fell 5,4% to 7.000 VND/share.
In the oil and gas sector, POW was a bright spot, rising 1% to exactly 10.000 VND per share.
Similarly, the banking sector also showed mixed performance within a narrow range. The most notable gain was CTG, which rose 0,5% to 18.850 VND, while most other stocks declined slightly.
According to Vndirect's analysis team, investor concerns about the impact of COVID-19 have caused bank stock prices to fall by an average of 18,4% since the end of 2019. All banks in the monitored portfolio are trading at relatively low projected P/B and P/E ratios for this year.
The HNX-Index closed the session at 105,8 points, down 0,47%. 77 stocks declined across the entire exchange, with 21 hitting their lower limit. Trading volume reached 163,7 billion VND.
The HNX30 also fell 1,69 points to 200 points.
UpCom experienced a smaller decline, losing 0,05 points to fall to 51,2 points.
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