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Banking & Finance

October 5: VN-Index down at 10am

Released at: 13:50, 05/10/2018 Stock Market Watch

October 5: VN-Index down at 10am

Source: TVSI

Stocks struggle amid poor overnight news.

by Hai My

The last trading session of the week opened with a degree of caution exhibited among investors. The Dow Jones fell sharply overnight after ten-year bond yields surpassed 3.2 per cent and the global oil price fell sharply after a series of hot rallies that had helped Vietnam’s stock market.

As at 10am, the VN-Index had lost 4.37 points (0.43 per cent) to 1,019.25 points, the HNX-Index 0.3 per cent to 115.92 points, and the UPCoM-Index 0.18 per cent to 54.45 points, after all rose yesterday.

The recent rally of stocks such as banks and oil and gas stalled, resulting in a lack of support in the market.

In bluechips, increases in MWG, PNJ, VHM, VPB, BVH, DHG and HPG was not enough to prevent the market from falling.

Among the top ten largest caps on HSX, only VHM gained, by 0.2 per cent.

Bright spots were seen in seaports, with GMD, VSC, DVP, DXP, HAH and PHP rising, with PHP hitting its ceiling thanks to a draft circular adjusting the service price framework benefitting the port business.

Spillovers helped stocks rally somewhat, but the VN-Index fell short of 1,025 points due to selling pressure as the market approached the resistance level.

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