Vietnamese stocks fall on weak results, economic concerns

Vietnamese stocks closed lower on Tuesday in thin volume due to weak earnings results in the first quarter and concerns over a slowing economy, an analyst and a broker said.

VN INDEX

Down 0.93 percent at 431.44.

Volume of shares traded: 47.68 million.

Value of shares traded: 720.27 billion dong.

Largest gainers, largest losers

HNX INDEX

Down 0.4 percent at 75.30.

Volume of shares traded: 32.1 million.

Value of shares traded: 333.26 billion dong.

Largest gainers, largest losers

Analyst’s comments

Tong Minh Tuan, deputy Analysis manager, BIDV Securities:

“The markets continued to retreat after rising earlier this year, particularly after a lot of companies posted bad results in the first quarter.

“However, this is a good chance for long-term investors because the market is unlikely to fall much further.”

Lai Duc Long, broker, Hanoi branch of Phu Hung Securities:

“Worries about a sluggish economy continued to weigh on the market despite an interest rate cut that many investors had foreseen.” ($1=20,830 dong)

 

Category: Stocks