Stock market in red, Quoc Cuong Gia Lai shares reverse trend to 'purple ceiling'

VN-Index lost more than 10 points with more than 500 stocks decreasing in price in the first session of the week. Contrary to the general trend, QCG shares of Quoc Cuong Gia Lai increased to the maximum limit.

The stock market has just experienced an adjustment session at the beginning of the new week - Photo: QUANG DINH

The stock market recovered slightly right after opening this morning's trading session (November 4). However, active selling pressure increased afterwards, causing the index to lose stability.

Vietnamese stocks lost more than 10 points

VN-Index has broken through the 1,250 point mark, down more than 9 points at the end of the morning session. The red color continued to spread in the afternoon session.

Correction pressure was overwhelming in all three groups of large, medium and small capitalization. Liquidity increased quite strongly compared to the previous session, due to greater selling pressure. At one point, VN-Index lost 13 points.

By around 2 p.m., many stocks returned to green, and the index also narrowed its decline. After a day of tense tug-of-war, the VN-Index lost more than 10 points, falling back to 1,244.7 at the end of the session.

The whole market has more than 500 codes decreasing in price, HoSE alone contributes nearly 300 codes.

In contrast to the group of stocks adjusting, only more than 200 codes remained green on all three exchanges. The total transaction value reached more than 17,000 billion VND.

By industry group, banking stocks with large capitalization put significant pressure on the index today, falling 1.2%.

In the top 10 stocks that put pressure on the index today, the banking group contributed 4.

A series of stocks were adjusted such as: VPB of VPBank (-2.23%); TPB of TPBank (-2.9%); SSB of SeABank (-1.47%); EIB of Eximbank (-4.8%), ACB of Asia (-0.6%); LPB of LPBank (-1.37%), HDB of HDBank (-1.8%), VCB of Vietcombank (-1%)...

Meanwhile, the real estate group only lost less than 0.2% when there was a clear differentiation between stocks. Contrary to the general market trend, many real estate stocks increased well such as QCG of Quoc Cuong Gia Lai (+6.95%), DXG (0.3%), KBC (+2.6%)...

Analysts believe that the global financial market, including Vietnam’s stock market, will be affected by the US election. Policies implemented after the new US president takes office will directly affect the profits of many listed companies.

Quoc Cuong Gia Lai reverses the "purple ceiling" trend

In the top 10 stocks that had a positive impact on the VN-Index today, the notable one is QCG of Quoc Cuong Gia Lai with a ceiling increase (6.95%).

This stock has experienced 4 consecutive sessions of increase, including 2 "purple ceiling" sessions, bringing joy to shareholders after a long period of "sliding" due to the information that Ms. Nguyen Thi Nhu Loan was prosecuted.

In another related development, on the same day, November 4, the High People's Court in Ho Chi Minh City opened an appeal trial for Ms. Truong My Lan and 48 defendants in the case that occurred at Van Thinh Phat Group, SCB phase 1.

The case was tried on appeal due to the appeal of Ms. Truong My Lan and those with related rights and obligations, including Quoc Cuong Gia Lai Joint Stock Company.

Previously, the court of first instance ruled that Quoc Cuong Gia Lai must return more than 2,882 billion VND it received from defendant Truong My Lan to ensure the performance of its obligations to defendant Lan.

Then Quoc Cuong Gia Lai appealed, claiming that it only had to pay 1,441.4 billion VND to defendant Truong My Lan.

At this year's shareholders' meeting, Mr. Nguyen Quoc Cuong - General Director of Quoc Cuong Gia Lai - said that fortunately, Phuoc Kien's documents, red books... were sealed and were not mortgaged or used as collateral for any loans from Sunny Land or Van Thinh Phat.

Therefore, when returning the above amount, Quoc Cuong Gia Lai will receive back "full documents and red books of all 65 hectares that we transferred to Sunny Land".

Source: https://tuoitre.vn/chung-khoan-trum-sac-do-co-phieu-quoc-cuong-gia-lai-nguoc-dong-tim-tran-2024110414024475.htm