Rise and fall, a tale of two cities
HA NOI (VNS)– Shares listed on the HCM City Stock Exchange failed to retain gains during yesterday's session, although advancers overwhelmed decliners by 129-68.
The VN-Index retreated 0.12 per cent to reach 394.19 points.
The trading value stood at VND590.7 billion (US$28 million) as nearly 45.3 million shares changed hands.
More blue chips closed in red towards yesterday afternoon's trading, pushing the VN30 off 0.09 per cent to 461.28 points.
While half of the 30 shares tracked by the index tumbled, only nine managed to post gains, with logistics firm Gemadept (GMD) and property developer Tan Tao (ITA) hitting their ceiling prices.
Meanwhile, on the Ha Noi Stock Exchange, the HNX-Index rose by 0.6 per cent, ending yesterday at 55.84 points. Only 74 out of the total 394 listed codes declined.
Market value totalled VND314.1 billion ($14.9 million) with 45.5 million shares exchanged, jumping 63 per cent on Wednesday's level in terms of trading value.
The HNX30, composed of the bourse's 30 leading shares by capitalisation and liquidity, finished at 105.08 points – a 1 per cent gain.
The performance of these 30 stocks alone accounted for 74.3 per cent of the entire northern market.
Foreign investors were sellers on both exchanges, unloading a combined margin of VND8.7 billion ($414,200). Meanwhile, they favoured shares of Phu My Fertiliser (DPM), Sacombank (STB), commercial baker Kinh Do (KDC) and Binh Dinh Mineral Co (BMC).
"Increasing trading value indicates that cash starts to come back to the market," said BIDV Securities analysts.
Speculative stocks such as securities – Kim Long (KLS), Bao Viet (BVS), VNDirect (VND and PetroVietnam Construction (PVX) and Sai Gon-Ha Noi Bank (SHB) – still attracted investors. Along with Asian Commercial Bank (ACB), the total trading volume of this group accounted for 40 per cent of the Ha Noi bourse.
However, the analysts predicted shares would decline during today's session. "The highlight is that the decline will not be steep," they added. — VNS