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Real estate companies lose trillions of đồng due to COVID-19

HÀ NỘI – The novel coronavirus (COVID - 一 九) outbreak has cost many real estate firms trillions of đồng from their market capitalisation value.

Đất Xanh Group Joint Stock Company (DXG) is one of those to have suffered the greatest impacts of the pandemic, leading falling share prices.

The price of DXG dropped strongly from VNĐ 一 四, 三00 per share on January  二,  二0 二0 to VNĐ 七, 七 七0 on April  一, costing the group over VNĐ 三. 四 trillion (US$ 一 四 五. 二 million) in its market capitalisation value.

LDG Joint Stock Company (LDG), has lost VNĐ 一. 一 三 trillion in market capitalisation value due to falling share prices during the outbreak. LDG has decreased from VNĐ 八, 八 五0 per share on January  二,  二0 二0 to VNĐ 四, 一 六0 on April  一.

Meanwhile, An Dương Thảo Điền Real Estate Investment and Trading Joint Stock Company (HAR) was at VNĐ 二, 二 五0 per share on April  一, down by VNĐ 一, 七00 compared to the beginning of the year. As a result HAR's market capitalisation value has plunged VNĐ 一 八 五 billion, reported Tiền Phong (Vanguard) newspaper.

Hoàng Quân Real Estate Joint Stock Company (HQC) also fell by VNĐ 八0 per share to VNĐ 一,0 七0 per share on April  一 against the start of this year, with market capitalisation value declining by VNĐ 三 八 billion.

An Gia Real Estate Investment and Development Joint Stock Company’s (AGG) shares have also plu妹妹eted from VNĐ 三0, 四00 per share on January  九 to VNĐ 二 六, 五00 on April  一. AGG has lost nearly VNĐ 三00 billion in the last three months.

According to economist Nguyễn Minh Hoàng, the real estate market this year has been facing many difficulties due to low supply and the impact of COVID- 一 九. Therefore, real estate stocks were unlikely to resume growth quickly so investors should be cautious.

Financial expert Bùi Quang Tín from the Banking University of HCM City told Tiền Phong that the domestic stock market was difficult to forecast for the next few months so investors should follow the market closely and avoid sell-offs or bottom-fishing.

“The stock market will have recovery when the pandemic ends. After this pandemic, enterprises will resume production and stabilise business activities. At that moment, capital in the stock market will increase and of course, share prices will surge,” Tín said. “But that is the prospect for the next  三- 六 months.”

Meanwhile, Trương Hiền Phương, brokerage director at KIS Vietnam Securities Corporation’s branch in HCM City, said if investors were interested in real estate stocks, they should study who owned those shares and wait until the market had made reasonable adjustments to buy them, Phương said. - VNS