Tuesday, August 22 2017

VietNamNews

Foreign selling leads to slump

Update: March, 27/2015 - 09:07

On the HCM Stock Exchange, foreign investors continued to sell stocks in the VN30 Index, which tracks the south's largest 30 stocks in terms of market value and liquidity. — Photo VNA

HA NOI (VNS) — The national stock market continued to slump as foreign investors yesterday extended their total net selling value to VND266 billion (US$12.6 million) with a total trading volume of 22.6 million shares. This nearly tripled Wednesday's figure.

An increase in the world oil price to $50 per barrel had no effect on the market as the Government decided to keep the national price unchanged.

On the HCM Stock Exchange, foreign investors continued to sell stocks in the VN30 Index, which tracks the south's largest 30 stocks in terms of market value and liquidity.

They recorded most trading volume and value in selling large-cap stocks, including Vingroup Joint Stock Company (VIC), Ma San Group Corporation (MSN) and PetroVietnam Gas Joint Stock Company (GAS).

As a result, the VN30 Index finished at 586.70 points, a decline of 0.59 per cent and recorded a trading value of VND791 billion ($37.6 million) for nearly 32.8 million traded shares.

Losing shares outnumbered gaining shares by 14 to five. FPT Corporation (FPT), Military Bank (MBB) and PetroVietnam Drilling & Well Service Corporation (PVD) were among those that gained market value. The numbers, in turn, were 0.2 per cent, 0.73 per cent and 3.4 per cent.

As a result, the benchmark VN-Index yesterday lost 0.85 per cent to close at 556.16 points with a total trading volume of only 83.8 million shares, worth VND1.66 trillion ($79.1 million).

The HAI Agrochem Joint Stock Company (HAI) concluded the day as top trader with nearly 13 million shares at VND13,100 per share. In addition, An Giang Fisheries Import&Export Joint Stock Company (AGF) was the top gainer, raising its market value by 6.85 per cent to VND21,900 per share.

On the Ha Noi Stock Exchange, the HNX30 Index had a slight recovery, rising by 0.06 per cent to close at 157.42 points. It recorded a trading volume of 24.6 million shares, worth VND303.6 billion ($14.4 million).

The HNX-Index mostly remained unchanged, ending the session at 83.14 points. The Song Da Investment Joint Stock Company (SIC) was the top gainer on the northern bourse, raising its value by 9.9 per cent to end at VND12,200 per share. The Sai Gon-Ha Noi Bank (SHB) yesterday finished as the top trader with 10.5 million traded shares.

Overall, both markets closed the session with a total trading volume of 122.2 million shares and recorded a total trading value of VND2.14 trillion ($101.9 million). — VNS



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