|Investors look at a monitor showing market fluctuations on the Bao Viet Securities trading floor. — VNS Photo Viet Thanh
HA NOI (VNS) — Shares on the HCM City Stock Exchanges continued to decline yesterday as selling pressure increased due to a lack of supportive news.
"Investors were cautious with equity assets as the market lacked boosting news after the benchmark VN-Index hit a two-month high on Thursday," analysts of FPT Securities Co wrote on a report yesterday.
The benchmark VN-Index gave up 0.36 per cent to close the session at 582.77 points, while the VN30 tracking the top 30 shares by market value and liquidity was also down 0.27 per cent to end at 627.10 points.
The overall market condition was neutral, with 89 shares advancing, 85 declining and 128 closing flat.
Heavyweight stocks such as private equity Masan Group (MSN), PV Gas (GAS), insurer Bao Viet Holdings (BVH), steelmaker Hoa Sen Group (HSG) and real-estate giant Hoang Anh Gia Lai Co (HAG) all lost value.
Low demand drove liquidity down as the market volume dropped 50 per cent from Thursday to 78.3 million shares and fund certificates while total trading value fell 40 per cent to reach more than VND1.26 trillion (US$59.7 million).
Two most active codes on the southern bourse were realty stocks. FLC Group (FLC) topped volume sales with 11 million shares traded, ending flat at VND13,000 a share.
Tan Tao Investment Industry Corp (ITA) came second on trades of 4.6 million shares, dipping 1.2 per cent to settle at VND8,200 per share.
On the other hand, the HNX-Index on the Ha Noi Stock Exchange managed to close unchanged at 78.62 points although it sank below the neutral line for most of trading. Recovery of blue chips like Saigon Ha Noi Bank (SHB), Sai Gon Thuong Tin Real Estate Co (SCR), Saigon Ha Noi Securities Co (SHS) and PetroVietnam Construction Corp (PVX) lifted the market.
PVX was also the most active stock on total trades of 6.2 million shares, growing 2.22 per cent to close at VND4,600 each.
Most shares (191) remained unchanged, while 82 shares rose and 85 tumbled.
The HNX30 dropped 0.16 per cent to end at 159.76 points.
Trading decreased in the North as well as market volume and value went down 40 per cent from the previous session, totalling 59.5 million shares, worth VND630.3 billion (nearly $30 million).
Foreign investors reduced buying in the last session. They were net sellers on the HCM City market, unloading shares worth nearly VND11 billion ($521,000), but they were still net buyers on the Ha Noi exchange, picking up shares worth VND20 billion ($948,000). — VNS