Tuesday, February 20 2018

VietNamNews

Blue chips weigh on VN-Index

Update: October, 04/2014 - 10:23
On the HCM Stock Exchange, the VN-Index inched 0.18 per cent down to close the session at 611.55 points.— Photo TNCK
HA NOI (VNS)  — Pulled down by blue chips, the market lost momentum during its last minutes yesterday, despite strong buys from domestic investors.

On the HCM Stock Exchange, the VN-Index inched 0.18 per cent down to close the session at 611.55 points, while the VN30 tracking performance of the top 30 shares by market value and liquidity dipped 0.06 per cent to end at 659.25 points.

Slumps by major stocks such as PV Gas (GAS), Vinamilk (VNM), Bao Viet Holdings (BVH), FPT Corp (FPT) and Hoang Anh Gia Lai Co (HAG) weighed down the market.

However, investors remained confident, as shown by high liquidity. More than 190 million shares worth nearly VND3.554 trillion (US$168.4 million) were traded by the end of the session.

Several blue chips attracted investors' attention, such as Vietcombank (VCB), VinGroup (VIC), Kinh Do Corp (KBC), Saigon Securities Inc (SSI), Hoa Sen Group (HSG) and Tan Tao Investment Industry Corp (ITA), which all climbed in the afternoon.

ITA was also the most active code with more than 15.4 million shares, rising 2.22 per cent to finish at VND9,200 per share.

On the Ha Noi Stock Exchange, the HNX-Index managed to close higher at 90.32 points, just 0.07 per cent up on Thursday.

Liquidity remained positive, with 84.5 million shares worth VND1.159 trillion ($55 million) being exchanged.

Speculative stocks, such as PetroVietnam Construction Corp (PVX) and KLF Joint Venture Global Investment Co (KLF), were the most active, with more than 12 million shares traded on each code. But prices of both shares slid 3-4 per cent.

Foreign investors unexpectedly concluded as net sellers on the HCM City's market after a positive net buying session on Thursday. They unloaded shares worth VND307.3 billion ($14.6 million). However, the sector remained the net buyers on the Ha Noi bourse, picking-up shares worth VND8.41 billion ($400,000).

Despite negative trading yesterday, many analysts believe the market will improve in the near future, thanks to high liquidity on both markets. But they warn of the possibility of a modest correction as investors continue to sell shares to make cash profits. — VNS

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