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Saturday, May 25, 2024

Profits amid market correction

By Trieu Duong

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The performance of businesses in the first quarter of this year influences investor sentiment amid the market correction. Q1 profit picture The VN-Index of the Hochiminh Stock Exchange concluded April with a moderate decline of 75 points, or roughly 6%, backed by gains in the final trading days of the month. While there is sign of a market recovery, liquidity remains subdued, indicating that substantial cash flows have yet to re-enter the market or that investors may be indifferent. Amidst the current market correction, the performance of businesses in the first quarter of 2024 is a factor that influences investor sentiment. Companies normally show optimistic financial results in the initial three months of year to reassure shareholders, gearing up for the annual general meetings (AGM) season in April and May. However, the overall outcomes indicate that corporate profits have not met expectations. While some enterprises have shown growth, others have reported profit declines or losses. As of the end of April, approximately 440 companies listed on the HOSE and the HNX had disclosed their financial reports for the first quarter of 2024. Among them, 65 firms, nearly 15%, reported losses, according to statistics. Some businesses have reported significant losses. Notably, […]
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