Inspectors concluded a number of violations in gold trading activities at PNJ - Photo: TL
VN-Index continued to be under pressure to correct in the morning session of June 2, when it "evaporated" more than 8 points under the negative impact mainly from large-cap stocks (VN30).
Market liquidity decreased slightly compared to the same time last Friday, although it remained around the average level of the last 5 sessions.
Notably, stocks related to the Vingroup ecosystem were under high selling pressure. VIC, VHM, VRE and VPL alone pulled the index down by 6.5 points in the morning session alone.
On the contrary, highly speculative real estate groups such as PDR, CEO, DIG, SCR, KDH, NTL… recorded positive growth. Many real estate codes are still "purple ceiling".
The above reaction appeared after information was spread about the proposal to abolish construction permits for projects with detailed planning of 1/500. If the policy is passed, it is expected to remove legal bottlenecks, creating a boost for the real estate market.
However, the active buying force - although it appeared at the beginning of the session - gradually weakened by the end of the morning session. At the end of the morning session, VN-Index lost more than 8 points. In the afternoon session, the market gradually narrowed its decline.
However, some stocks related to the inspection of gold trading activities are still under considerable pressure.
For example, PNJ of Phu Nhuan Jewelry Joint Stock Company at one point dropped sharply to 77,000 VND/share, equivalent to a loss of 6.6% of market value - close to the floor price.
However, thanks to bottom-fishing demand at discounted prices, gold industry giant PNJ's stock recovered slightly, ending the session down 5.21% to VND78,200/share.
Previously, the State Bank announced the inspection conclusions of 2 banks and 4 gold trading enterprises, including PNJ.
TPBank (TPB) - one of two banks inspected for gold trading activities - also faced adjustment pressure but less, down 1.13% to VND13,100/share. At the same time, liquidity skyrocketed to nearly 22 million units, double the average level of the past week.
Meanwhile, EIB (Eximbank) shares - although also on the list of many violations in gold trading activities - unexpectedly increased in price by 2.64% at closing.
All three exchanges recorded 438 stocks increasing in price, overwhelming 323 stocks decreasing. Total market liquidity reached nearly 23,000 billion VND. Foreign investors continued to net sell slightly with a value of more than 160 billion VND.
Thanks to improved demand at the end of the session, the VN-Index reversed to increase slightly by more than 3 points, closing the session at 1,336 points.
Source: https://tuoitre.vn/co-phieu-pnj-roi-sau-sau-ket-luan-thanh-tra-vang-cua-ngan-hang-nha-nuoc-2025060215325692.htm
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