Wednesday, November 22 2017

VietNamNews

Bourses struggle under pressure

Update: December, 06/2014 - 09:58
A customer monitors shares at the Ha Noi Stock Exchange. Rising selling pressure yesterday caused a decline across the Ha Noi Stock Exchange and hampered increases on the HCM City Stock Exchange. — VNS Photo Thai Ha
HA NOI (VNS)— Rising selling pressure caused a decline across the Ha Noi Stock Exchange and hampered increases on the HCM City Stock Exchange.

The HNX-Index on the northern bourse lost 0.14 per cent to reach 88.63 points on a total turnover of over VND912 billion (US$42.8 million).

Most sectors declined, except construction stocks, which increased with a combined rate of 0.42 per cent.

Also, the largest 30 shares tracked by the HNX30 Index drove the index down 0.15 per cent to 178.15 points.

Meanwhile, on the HCM City Stock Exchange, the VN-Index continued its rising streak by adding 0.07 per cent to finish at 578.76 points.

The total value and volume of trades reached VND1.9 trillion ($89.6 million) and nearly 106.7 million shares were traded.

The VN30 Index, representing the bourse's leading shares in terms of capitalisation and liquidity, added only 0.06 per cent to finish at 624.67 points.

Trading of the shares was sluggish, with only 11 codes rallying slightly. Pha Lai Thermalpower (PPC) and Vietcombank (VCB) were the highest increasing stocks, up 3.9 and 3.4 per cent, respectively.

Meanwhile, losing stocks slightly out-numbered winners. Notably were Eximbank (EIB), which had hit its daily limit for two successive sessions, PetroVietnam Drilling Services (PVD) and Vinamilk (VNM).

As expected, FTSE Viet Nam UCITS ETF announced it would add Sai Gon Securities Inc (SSI) to its FTSE Viet Nam Index's portfolio, while removing Sacombank (STB), Da Nang Rubber (DRC) and Vinh Son – Song Hinh Hydropower (VSH). SSI increased slightly, while the three removed stocks closed yesterday's session unchanged.

The exchange-traded fund also excluded EIB from its FTSE Viet Nam All-Share Index.

According to FPT Securities Co's analysts, liquidity had been continuously declining in recent trading days, which did not support a recovery scenario.

"It is highly possible that a correction will occur next week to test market demand and verify a trend for the market," they said.

In addition, if foreign investors continued to be net buyers, it would be a positive signal for the medium term, they added.

Foreign investors yesterday bought a net of VND70.6 billion ($3.3 million). — VNS


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