86 stocks have their margin cut by HoSE in the fourth quarter of 2023
The Ho Chi Minh City Stock Exchange (HoSE) has just announced a list of 86 stocks that are not eligible for margin trading (margin cut) in the fourth quarter of 2023. Compared to the list announced in the third quarter, the number of companies with margin cut is 10 more.
Most of the stocks with margin cut belong to listed companies that are having business problems such as: Angimex (AGM), Pomina Steel (POM), The Golden Group (TGG), Truong Thanh Wood (TTF), Tri Viet Securities (TVB)...
In the above list, some stocks are still subject to trading restrictions or trading suspension. Notably, stocks of Hoang Anh Gia Lai (HAG) and Tan Tao ITA (ITA) are still under HoSE’s warning.
In the context of the stock market continuously falling, HoSE announced a list of 86 stocks with margin cut (Photo TL)
In addition, some stocks had their margins cut in the fourth quarter due to the business results in the first half of 2023 recording a loss after tax for the parent company's shareholders. Typically, Binh Thanh Production, Trading and Import-Export Joint Stock Company (GIL), which is suing Amazon for withdrawing orders causing damage to its business operations, Quoc Cuong Gia Lai (QCG), FPT Retail (FRT)...
With the stocks in the list of 86 stocks having their margin cut by HoSE, investors will not be able to use credit limits (financial leverage) to buy stocks of these companies on the stock exchange. This will directly affect the purchasing power as well as price fluctuations of the listed stocks, especially in the context of the market being "red hot" with many stocks falling in price like now.
The stock market last week was 'on fire' with 852 stocks decreasing in price.
Not only has the list of stocks cut off from margin trading on HoSE been lengthening, but the stock market last week also continuously received negative signals.
Right in the first trading session of the week on October 3, 2023, selling pressure caused the market to drop quite sharply. At one point, the VN-Index dropped up to 40 points with the tug-of-war between buyers and sellers.
Strong selling pressure in banking stocks has had a negative impact on the market. At the same time, large-cap stocks have fallen in price, making investors worried.
In the fiery trading session on October 3, statistics showed that there were 852 stocks decreasing in price. The total volume of stocks traded on the market was 24,750 billion VND, VN-Index fell to 1,118 points.
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