Tuesday, September 26 2017

VietNamNews

Trading drops off on both bourses

Update: March, 16/2015 - 09:07

Investors watch stock movements at Vietcombank Securities Limited Company's trading floor in Ha Noi. Market fluctuations seem to have increased as investors continued to invest in large-cap shares. — Photo Truong Vi

HA NOI (VNS) — Market fluctuations seem to have increased, maintaining the VN-Index at about 588 points, as investors continued to invest in large-cap shares, including those in the bank and real estate sectors.

They also continued to remain net sellers on both markets this week, according to the VN Direct Securities Joint Stock Company (VNDS).

Last week, foreign investors were, surprisingly, net sellers as they recorded total net sales of VND294 billion (US$14 million), a 25 per cent rise at 6.82 million shares, a decrease of nearly 58 per cent.

On the HCM Stock Exchange, sales by foreign investors reached net sale values of VND267 billion (US$12.7 million) for 6.19 million shares.

On the Ha Noi Stock Exchange, foreign investors recorded total net sale values of VND27 billion (US$1.29 million) for nearly 630,000 shares.

Further, the market passed through five trading sessions with decreasing liquidity and a mixed performance. The two main indexes continued to drop last week, with the VN-Index declining by 1.32 per cent to 586.10 points and the HNX-Index decreasing 1.23 per cent to 85.72 points.

The market also witnessed a lower volume of trading activity, with total trading volume in the southern market decreased 1.32 per cent to 470 million shares for a total value of VND8.2 trillion ($391.3 million).

In addition, the trading volume of the northern market dropped 1.24 per cent last week to 177 million shares, with total trading value of VND2.48 trillion ($118 million).

With market information missing in both the southern and northern markets, they saw considerable fluctuations with gaining sessions alternating between declining sessions.

Moreover, the downward trend of large-cap shares, including bank shares, had strong impacts on the market's trading activity as investors, particularly foreign ones, stepped up the sale of their shares.

FLC Joint Stock Company (FLC) had the largest amount of outstanding shares last week, as it had remarkable trading volumes during the sessions.

During the trading session last Friday, large-cap shares, including GAS, VNM and STB, continued to drag the market down.

However, several other large-cap shares, including FLC, BID and CTG, had large trading volumes, which prevented the market from falling too far. — VNS



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